Nowadays many people choose to be self-employed rather than to work for a company or organization. Why might this be the case? What could be the disadvantages to being self-employed? Give reasons for your answers and include any relevant examples from your knowledge or experience.

In the current era,

self-employment

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is becoming increasingly popular. Due to the flexible options it offers,

therefore

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many people prefer it to being an employee.

This

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essay will

first

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, discuss why

this

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is

at

Suggestion

on

the increase and

then

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, address the drawbacks associated with working for oneself. There are many factors that are responsible for the popularity of

entrepreneurship

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.

Firstly

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,

lack

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of

job

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contributes in no small measure why some people prefer to be self-employed. The world economy in general and Nigeria’s

in particular

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are titling to recession, so

this

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gives rise to

high unemployment rate

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the high unemployment rate

. A lot of young

graduate

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graduates

would embrace

self-employment

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in order to put food on their table than waste years seeking for the unavailable jobs in the labour market.

For instance

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, my younger brother graduated from the university three years ago and sought for jobs in these years to no avail, whereas his classmate was already earning a living as an Entrepreneur. He never secured

this

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job

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until my family raised

fund

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funds

for his to start-up a

business

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.

Furthermore

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,

entrepreneurship

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guarantees

independence

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the independence

and flexible

work

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schedules. Entrepreneurs see employees that

work

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from 8:00am to 5:00am as boring, monotonous and risky because of

lack

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of

job

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security. One that works for oneself has flexible

work

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schedules and can operate from anywhere because he is his own boss. More so, with the advances in technology

such

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as the Internet, an Entrepreneur does not need to have an office to make

money

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, provided that he has the required tools to

work

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from home.

For example

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, I started as a Freelancer by writing Thesis, seminar and journal papers to people across the world through the website known as

freelancer

Suggestion

freelancers

.

com

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Com

.

However

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, there are many detriments of

entrepreneurship

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such

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as financial risk and

lack

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of skills.

Although

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, those that are self-employed enjoy all the rewards and benefits as well

as the

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as, the

associated risks, unlike an employee where the company bears the risks and rewards. To illustrate an example, I loaned a friend

money

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to set-up a

business

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, which he did and the

business

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was doing fine until the uncertainty of the market crashed it. He lost the

money

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I loaned to him and

also

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his

business

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because he had no capital to continue to fund it. He went back to be unemployed for about two years before he secured a paid

job

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.

In addition

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,

lack

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of skills is a major drawback for

self-employment

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. Many people are self-employed without the required

skillset

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needed to keep them in the market to experience continued growth.

This

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, often leads to the shutdown of the

firm

the phonological or orthographic sound or appearance of a word that can be used to describe or identify something

form

prematurely.

For instance

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, without the knowledge of Information Technology, I invested all my savings in the hope of founding a Tech company. I ultimately lost my

money

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as well as the company. In summary, some people embrace

self-employment

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due to

high unemployment rate

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the high unemployment rate

,

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however without

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however, without

considering the pros and cons of it

such

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as

financial burden

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a financial burden

financial burdens

and inadequate

skillset

Suggestion

skill set

. For one to choose to be self-employed the downside of

entrepreneurship

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must be

analyzed

examined carefully and methodically; broken down for consideration of constituent parts

analysed

.