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

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

therefore

many people prefer it to being an employee.

This

essay will

first

, discuss why

this

is

at

Suggestion

on

the increase and

then

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

entrepreneurship

.

Firstly

,

lack

of

job

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

in particular

are titling to recession, so

this

gives rise to

high unemployment rate

Suggestion

the high unemployment rate

. A lot of young

graduate

Suggestion

graduates

would embrace

self-employment

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

For instance

, 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

job

until my family raised

fund

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funds

for his to start-up a

business

.

Furthermore

,

entrepreneurship

guarantees

independence

Suggestion

the independence

and flexible

work

schedules. Entrepreneurs see employees that

work

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

lack

of

job

security. One that works for oneself has flexible

work

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

such

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

money

, provided that he has the required tools to

work

from home.

For example

, 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

Suggestion

Com

.

However

, there are many detriments of

entrepreneurship

such

as financial risk and

lack

of skills.

Although

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

as the

Accept comma addition

as, the

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

money

to set-up a

business

, which he did and the

business

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

money

I loaned to him and

also

his

business

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

.

In addition

,

lack

of skills is a major drawback for

self-employment

. Many people are self-employed without the required

skillset

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

This

, 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

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

money

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

self-employment

due to

high unemployment rate

Suggestion

the high unemployment rate

,

however without

Accept comma addition

however, without

considering the pros and cons of it

such

as

financial burden

Suggestion

a financial burden

financial burdens

and inadequate

skillset

Suggestion

skill set

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

entrepreneurship

must be

analyzed

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

analysed

.