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

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over

Suggestion

after

being employed under an organization.

This

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

work

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more independently.

Furthermore

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,

this

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

risk

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associated with the

business

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

this

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

business

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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

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change is, the ability to be more independent and

work

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

For instance

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, Steve Jobs, the mastermind behind the

multimillion

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Apple products has stated that moving from his

last

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employer and taking the initiative to start his own

business

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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

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recent

work

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

risk

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

market there

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market, there

is a

risk

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of failure associated with the

business

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. 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

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to

this

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

such

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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

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change is due to technological developments and greater independence in

work

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.

This

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essay

further

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discusses the cons of

this

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practice, which are

exposure

Suggestion

exposed

to high

risk

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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

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.