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?

Self-employment has recently become a primary option for many people, as they despise working for any company or organization. Even though there are multitudes of reasons behind

this

choice, there are certain drawbacks to being self-employed. One of the causes for self-employment is the freedom of work. As a freelancer, people could choose when and how to do their works, no longer having to follow a strict set of rules.

For example

, they can start working at 10 in the morning,

instead

of a standard 7.

Moreover

, self-employed workers fancy being their own boss. They can make their own decisions on the

next

course of action for their business without having to consider others' opinions.

However

, being self-employed

also

opens for many disadvantages. To be able to start freelance work, people must

first

quit their current jobs.

This

might result in a financial risk since no one would pay them their monthly salaries.

Additionally

, opening a company would mean competing against other larger, more established ones on the market. They would have a difficult time finding support and fund for the business without much reputation.

This

also

means fewer good employees will apply for jobs from your freelance business. As online research has pointed out, a quarter of self-employed startups fails in the

first

year, 30% in the

third

, and over half in the fifth. In conclusion, despite its alluring benefits, self-employment does not always work out beautifully as one might imagine since its risks usually outperform that of its advantages.