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?

In the contemporary era,

instead

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of working for a company,

individuals

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prefer to work for themselves.

Firstly

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,

this

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essay would discuss the reasons for

this

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trend.

Secondly

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, it would elaborate

the

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on the

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demerits that could arise if a

person

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opens up their own business. Since

individuals

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enjoy the freedom of working on their own projects.

Thus

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, people prefer self-employment rather than working for someone else. If a

person

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is working on a personal assignment,

then

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he or she could set up a deadline for the project as per their schedule.

This

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means that they do not need to report the progress to a team lead as they would normally do while working for a company. They just need to communicate with their client.

As a result

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, people tend to open up their own business.

For instance

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, according to a recent survey held in India, which is a country situated in Asia, the younger generation finds it fascinating if they open up their own company. On the downside, there are certain demerits of self-employment. Since there is no guarantee that a

person

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would receive a project on their own.

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, there is no assured income that they would receive at the end of the month.

This

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means that the remuneration that a

person

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would acquire in a month would depend upon the projects that they complete in

this

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time period.

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, If

individuals

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do not have any projects of their own,

then

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they would be forced to dissolve their enterprise due to the financial crisis.

For example

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, according to the government of Canada, which is a country situated in North America, forty per cent of startups fail in their

first

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year because they do not have adequate clients. To conclude,

this

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essay discussed that people prefer to be self-employed because they cherish the freedom that they obtain while working on a personal assignment.

Further

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, it discussed that

individuals

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would suffer financially if they do not have enough work to sustain their enterprise.