Nowadays, many people choose to be self-employed, rather than to work for a company or organisation. Why might this be the case? What could be the disadvantages of being self-employed

Recently, people now prefer to work for themselves rather than being employed in an enterprise or factory.

This

essay will discuss the reason why people might choose to be self-employed, and state the demerits of

this

latest development. The reason for

this

recent trend is that schedules are more flexible when people earn a living without working for others.

In other words

, people can easily determine their resumption and closing hours without any

consquences

a phenomenon that follows and is caused by some previous phenomenon

consequences

consequence

.

That is

, they are able to plan,

resechedule

assign a new time and place for an event

reschedule

rescheduled

, and cancel engagements at their personal terms and conditions that suit their current plans.

For example

, a local bottling company in Lagos reported that there was an upsurge in the number of people that resigned in 2018 because of the company's rigid work hours.

Thus

, many people are drifting

to

Suggestion

into

the path of personal paying jobs, which they self determines how it runs.

However

, there are many disadvantages to working independently.

Firstly

, the risk of the business is borne solely by the individual owner.

This

is because the company is managed by just one person who is responsible for all the profits and losses of the business.

Therefore

, the danger of a one man business is high as all problems associated with the investment is managed alone.

For instance

, many personally owned food businesses collapsed

as a result

of the rise in inflation rate in 2018.

In addition

, the chances of mismanaging and misappropriating funds becomes more possible because an individual is in charge of all financial dealings.

This

affects the general growth and development of a craft as there will be no checks and balances. In conclusion, these days, many people choose not to be an employee, they rather would fend for themselves. There are drawbacks to

this

tendency because

this

is risky as well as can lead to money mismanagement