Nowadays many people choose to be self-employed, rather than to work for a company or organization. Why might this be the case? What could be the disadvantages of being self-employed?
There is a widespread trend that people tend to start their own business or work as an individual entrepreneur due to opportunities this format of work proposed in comparison with to be hired by a company or organization. This essay will consider the possible reasons for that choice and enumerates some disadvantages to be a sole proprietor. There are several reasons why self-employment is so attracting for professionals today. First of all, the compensation a person gets depends only on the quality of his or her work talent, professional knowledge and perseverance and has nothing to do with management's point of view as in company or organization has. As a result, an individual entrepreneur is highly flexible in his or her work style and can focus on personal opinion what is better for customers nor on corporation rules to comply with, that without doubt increases motivation and self-esteem. Secondly, many professionals specializing in creative industries such as art or music find it difficult create in work conditions that are imposed by the employer, so the sole proprietorship is the most convenient way to organize working process if a person wants more freedom in actions. For example, many artists open up their own studios where they do not have to be in the morning on time and report to higher management. In spite of all advantages, there are some serious drawbacks that have to be taken into account. Firstly, individual entrepreneurship provides not only freedom of actions but also a high degree of responsibility and a lower level of social security. For instance, running your own business means that a sole proprietor is in charge of many additional duties such as all legal and regulatory obligations and during the time of economic slowdown he or she would be highly insecure in social terms. Another noticeable disadvantage is that running your own business makes your network of contacts narrower in comparison with working in a company with numerous colleagues. Moreover, the absence of social communications that can be experienced in the company could be really limited if a person chooses to work as an individual entrepreneur. In conclusion, self-employment attracts many professional its flexibility and freedom of actions, but few people really estimate and understand all disadvantages related to high responsibility.
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