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

Most contemporary economies allow

such

a model of employment as being self-employed, which appears very tempting for many.

However

, still the vast majority of people opt for being employed in a

company

and not to set up their own

business

.

This

essay will attempt to look into the key factors as to why people may prefer entrepreneurship and major drawbacks to it.

To begin

with, in many modern societies, including Russia, entrepreneurship is greatly encouraged with lots of

business

seminars and workshops advertised. These may range from slightly fraudulent to genuinely educational and supportive, and generally any information on setting up a

company

is easily accessible for those who are willing. And willing they are, as being a

business

person, the image itself has a certain feel of luxury, respectability and success. People are being told that they have no limits and can easily become as wealthy as Steve Jobs is they wish it. The

first

reason is linked to the

second

, which is relevant to Russia and some other countries. Bank loans are accessible too, and they are largely granted. If a future

business

person truly knows their

business

, it poses no threat.

Nevertheless

, easy access to setting up a

company

for someone inexperienced or insensible may cause a range of problems. Apparently, the

first

issue that may perplex an unskilled entrepreneur is the necessity to be a jack of all trades (if the

company

is very small). Having taken responsibilities of an accountant, PR or HR manager at the same time can be a burden and make the person wish they had never done it all. If they hire other people to perform these tasks, they must pay more tax and provide their employees with decent working conditions. At the same time,

business

is usually a risky matter and in our competitive reality many of them go bankrupt. And

last

, but not least – self-employed people are the only people responsible for their own vacations, sickness or maternity leaves or any job perks. So, in a nutshell, being your own master has many downsides,

that is

why many people decide to play it safe.