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?

Presently, a majority of individuals are preferring to set up their own trade while very few are desiring to get employed under any firm.

This

essay will discuss both the aspects;

firstly

, benefits in engaging in own business and

secondly

, the drawbacks of not getting employed.

To begin

with, every human being wants to be the owner of a business

instead

than work for an employer. Setting up own employment provides with huge benefits in terms of money, family-time, flexibility in working hours, freedom from employer’s work pressure and many more. Especially, to earn money and success within a short span of time.

For instance

, a recent survey had been conducted which stated that around 70% of youth which had chosen to freelance are richer and more successful as that compared to rest who preferred for a paid position.

However

, there are many risks that come along with being self-employed. An individual has to be prepared for the field fluctuations in the journey of making money by means of self-earning. The most important point is the uncertainty of the income which can either be profit or loss. Apart from

this

, there are many other cons

such

as the high requirement of funds for investment, setting up infrastructure, huge spending on promotions and marketing and mental stress. A good illustration of

this

, one of my colleagues was bankrupt because of failure in repayment of the loan he took for his own startup of manufacturing ash bricks and

also

facing many legal issues

consequently

. To summarize, there are not only plus points of being self-employed but

also

it comes with a large interest of risks and concerns.

This

essay highlighted some of the causes prevailing in the society for self-employment along with its demerits.