Now-a-days many people choose to be self-employed, rather than work for a company. Why might this be the case? What could be the disadvantage of being self-employed?

An increasing number of individuals have recently chosen to start their own

business

over

Suggestion

after

being employed under an organization.

This

increasing trend could be due to two main reasons, namely, the advancement of technology and greater ability to

work

more independently.

Furthermore

,

this

essay will stress the possible drawbacks of these start-up businesses, which are high

risk

associated with the

business

and lack of other benefits provided by an employer. The main reason for

this

shift could be due to technological improvements that provide a plethora of new

business

concepts together with convenience to create a suitable home office environment. A recent study conducted in the UK has shown that more than 40% of the employees have left their current positions in

corporates

of or belonging to a corporation

corporate

in order to start their own entities. Another key contributor to

this

change is, the ability to be more independent and

work

under your own initiatives rather than someone else’s instructions.

For instance

, Steve Jobs, the mastermind behind the

multimillion

Apple products has stated that moving from his

last

employer and taking the initiative to start his own

business

gave him a greater ability to think more independently and be more creative with his ideas. The above factors could be considered as contributors to

this

recent

work

shifting trend. When considering the plausible drawbacks of self-employment, one of the key factors is the high level of

risk

. As these individual entities are not yet established and face intense competition from the

market there

Accept comma addition

market, there

is a

risk

of failure associated with the

business

. A good illustration is, in Silicon Valley itself, more than 35% of new enterprises do not survive at least a year due to the competition in the market.

In addition

to

this

, there will be a reduction in the benefits provided to the employees compared to entrepreneurs. Added benefits

such

as insurance, welfare allowances, and company-sponsored training, both local and foreign will be reduced as may start-up businesses lack large amounts of funds like many companies. These can be identified as the negatives of self-employment. To conclude, self -employment is selected by many individuals recently over working under an employer.

This

change is due to technological developments and greater independence in

work

.

This

essay

further

discusses the cons of

this

practice, which are

exposure

Suggestion

exposed

to high

risk

and

reduction

Suggestion

a reduction

in employee

benifits

financial assistance in time of need

benefits

which should be considered before choosing to start your own

business

.