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?

Over the

last

few decades, there has been a significant development in the prospect of choosing an organization. It is believed that the majority of the people select to open a new firm rather than regular official jobs.

This

essay will possible reasons for

this

approach and

also

provide details of the drawbacks of their own

business

. There are several reasons why people choose to become an entrepreneur. It is the best way to earn money themselves and take the decision regarding the

company

by themselves. It's primarily because they are the boss of the

company

in addition

to that they can make the decision according to their wish.

Moreover

, the huge profit that they earn from the

company

can be utilized for their new launch of products which indirectly will be helpful for the growth of the

company

. My colleague,

for instance

, left the job for starting a new

venture

.

Although

he had few issues at the start of the

business

, at the end of the day he made a huge profit.

Therefore

it's eminent why people select their own

business

.

On the other hand

, there are plethoras of cons to becoming self-employed

that is

sometimes it would be a failure.

This

is predominantly, while they spend a huge amount to start a new

company

, they never think about the problem related to failure.

furthermore

they take a huge loan to make

this

grand success.

Consequently

, if the

company

is in a big loss they can become bankrupt and can have an emotional imbalance.

For instance

, My friend started a new

venture

without any research and had to face a big loss. He had an emotional breakdown and now he is taking treatment in hospital.

Thus

, it's precise to start a new

venture

is not a simple task. In conclusion, Despite the detrimental drawback of becoming an entrepreneur, I believe that people should be encouraged to start a new

business

to live independently and to earn their money themselves . The government should provide funds to help the people who are interested to start their own new

venture

.