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?

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Instead
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of working for a big company or an organization, many
people
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prefer to be self-employed. There are many reasons why they prefer
this
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;
however
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, it comes with some disadvantages. Today a lot of
people
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choose to be self-employed because it gives them a sense of independence and dignity. There is no one to give orders and boss around which is quite common in a corporation as they are
hell bent
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hell-bent
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on meeting the targets set by their boards. Meanwhile, in a self-employed job, the targets can be more realistic and humane.
Firstly
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, the working hours can be flexible and altered whenever required.
This
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reduces the work stress and
also
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permits the person to spend more quality time with their loved ones.
Secondly
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, they can take holidays or a day off whenever they want which is the biggest incentive of being self-employed.
Secondly
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, the profits increase as they do not have to share the revenue with anyone.
Furthermore
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, the tax breaks for small businesses are very helpful.
Although
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being self-employed has its perks, there are quite a few drawbacks. Self-employed businesses are usually small or medium scale and sometimes they do not have insurance.
This
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makes the business risky in case of an unforeseen event like a pandemic, natural calamity or market fluctuation. Unlike in a big company, there are very few
people
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to help navigate through difficult situations, especially if some legal problems occur. Doing everything oneself can turn out to be challenging.
For example
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, if a doctor runs his own hospital he will have to look after the day to day functioning of the hospital
in addition
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to treating patients.
This
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can not only be stressful for him but
also
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compromise the quality of services he provides.
Furthermore
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, it becomes difficult to find
well qualified
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well-qualified
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staff due to the limited resources that the small businesses have.
Lastly
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, one can miss out on an opportunity to work on a
life changing
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life-changing
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project like sending a rocket to Mars as these projects are often taken up by big organizations. To conclude, I feel that many
people
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choose to be self-employed these days to have a better
work life
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work-life
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balance and enjoy more time with their family and friends. Though it can be quite rewarding, it definitely has some disadvantages and obstacles.
Submitted by ifteqar.ahmed01 on

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Topic Vocabulary:
  • self-employed
  • company
  • organization
  • freedom
  • independence
  • income potential
  • flexibility
  • working hours
  • working location
  • passions
  • interests
  • decision-making
  • business practices
  • disadvantages
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