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 be of being self-employed?

It is often noticed these days that most individuals prefer to work independently

instead

of being hired by someone else.

This

trend is caused by certain factors

such

as completion of higher education and the massive potential for growth,

however

, there are a few demerits like having a stressful life and no job security. There are two factors attributing to the rise in self-employed people.

Firstly

, many individuals complete high-level education these days because of improved opportunities.

For example

, my brother completed his post-graduation in the field of Surgery and has planned to start a multi-speciality hospital for himself.

Secondly

, there is a chance for multi-fold growth, if proper calculated steps are taken in the development of business. To be precise, with a rational approach and preparedness to toil hard,

one

can achieve great heights.

However

, there are certain drawbacks associated with being independent in practice/business.

To begin

with, it leads to not only stress but can

also

give rise to a few health issues. To cite an instance, my friend who started a textile industry, later on, developed hypertension due to constant pressure from the banks.

Moreover

, there is no guarantee of regular work,

thus

there is a chance of financial loss as well. To elaborate, in case of a natural disaster/pandemic, the workplace may remain close leading to exorbitant losses. In conclusion, after having a glance at the above explanation, it is clear that the people who are highly educated and want to excel, start with their own businesses,

however

,

one

may have to pay the cost in terms of his/her health. It is recommended to decide what

one

wants in life and

also

the amount of risk

one

would take to achieve it.