Now-a-days many people choose to be self-employed, rather than work for a company. Why might this be the case? What could be the disadvantage of being self-employed?

Nowadays, many people are opting to start a
business
of their own
instead
of being employed in a firm. There are many factors contributing to
this
mindset which will be highlighted in the essay along with the disadvantages of being
self employed
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self-employed
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. As more and more countries are encouraging entrepreneurs, various decisions have been taken to ease the process of starting a new
business
.
For instance
, the availability of funds
to
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for
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a good idea or
business
plan is abundant, be it bank loans, venture capitalists.
Morevoer
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Moreover
, the procedures for setting up a new industry have been made a lot easier and transparent.
This
encouragement from several governments and investors is boosting young minds to implement a great
business
plan and start a new venture.
In
addition
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,addition
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there are many existing employees who are tired of doing a monotonous job for years and want to pursue their passion which is motivating them to explore new
business
oppurtunities
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opportunities
.
For instance
, people who have a hobby or passion for music or dance can now think of pursuing it as a
business
model as there are various
profit making
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profit-making
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opputinities
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opportunities
in almost every field.
However
, there are several disadvantages related to opening a new venture.
For example
, a job can
gaurantee
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guarantee
a fixed salary while generating income out of a fresh
business
can take a few years, sometimes even more.
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Moreover
, the
work life
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work-life
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balance a job can provide cannot be dreamt of in a new
business
. Sometimes if the idea or plan
doesnt
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doesn't
workout
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work out
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, it can create a huge financial or emotional instability which can be too tough to cope up with. In conclusion,
although
, due to certain measures taken for ease of doing
business
, people prefer to start up their own company, yet, several risks or problems have to be accounted for before opening up a new enterprise.
Submitted by g.aviral91 on

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