nowadays many people choose to be self-employed rather than to work for a company. why might be this case? what could be the disadvantage of being self-employed? give your reasons for answer

It wasn't long before, when people used to prefer working under big organizations, but now there is a huge influx of entrepreneurs in the current market as more people are turning towards self-employment rather than working for a reputable company. There are a number of factors contributing to

this

transition which will be later on discussed in the essay along with some of the disadvantages for that entrepreneurs might encounter down the road. Before discussing the disadvantages it is essential to analyse as to why people have transitioned towards establishing their own business rather than being a part of one. There are a number of significant causes that have led up to

this

shift in mindset. It has partially occurred due to the extreme

job

crisis that have overtaken the market reducing the number of

job

opportunities for the seekers and partially due to the lack of

job

security and low wages that employees have been facing. The

first

probable disadvantage of being self employed is the financial loss that one might suffer. A person who decides to board the self-employments ship cuts loose all steady source of income that they might have

otherwise

.

This

might lead to anxiety and economic crisis in the household which might create unrest among the family. Since entrepreneurs rarely have a steady source of income to cater their everyday need their routine life is badly effected which in term hugely affects their mental stability.

For example

, if a person who has left his

job

for a desire to have his own business suffers a financial drop he will undergo not only emotional distress, but would

also

suffer in terms of career growth as companies would question the time he was not working in a firm. In conclusion, it must be said that

although

, the people who are turning towards self employment in order to bypass the economic crisis in an order to establish themselves have great potential but, still they are on fragile ground owing to various disadvantages that entail them, which might prove to be extremely critical,

hence

it is recommended to not act hastily and consider every possibility before diving deeper into the abyss of self-employment and have a rescue plan in case of a failure.