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

Younger generation now a days are willing to achieve their dreams by inaugurating their own organization rather than working in an organization. In my view, it could be beneficial to be self-employed rather than dependent on the job. Let us discuss about the benefits and pitfalls of entrepreneurship in detail in the following paragraphs.

Firstly

, implementing own ideas and converting them to monetization is the primary goal of any businessman. Even though job gives security, but not raising the economic standard of the human beings to a larger extent as long as they are employed. Successful entrepreneurs earn a large amount of money.

This

attracts the youth to turn around and choose the business as their occupation.

For instance

, a research conducted by the University of Berlin indicates that rich people who do well in trade are much happier than their counterparts who are at work.

In addition

, rich species are well revered in the society.

However

, there is a stability in work compared to the business. Young adults likes to abide by their own thoughts which is not possible Whenever they are employed. Even though, the company has its advantages, there are some downsides as well. The primary downside of the company is an investment. Investment is a fuel for any successful venture. It's a tedious task for the entrepreneur to get finance for the startup.

Although

, there are examples of successful mentor like Sir Richard Son of Virgin Group, who overcome all the ordeals in order to become an affluent man.

This

is not always the case with the common public.

Moreover

, there is an aversion of startup culture in some cultures. Managing an establishment is not a trouble-free task and

this

creates hurdle for the self-employment The conclusion is, even though there are some pitfalls in self-employment it's the best way of providing jobs to the locals which prospers the society. It's the responsibility of the government to assist the youth with financial support and create awareness about the trades.