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 disadvantage of being self employed?

There has been a tremendous shift in work culture among individuals. People nowadays prefer to be self-employed

instead

of, working under any organization.

Although

there are some obvious benefits of “being your own boss”, there are certain drawbacks as well. Millennials nowadays tend to start a business or do freelance jobs rather than work for a company or organization, mainly because of the perks of working independently. Being a free agent would provide flexibility for an individual to control his working hours,

as a result

, improving the work-life balance.

For example

, when working for an organization there will be certain rules in place for entering and leaving the office while

that is

not the case for freelancing.

Furthermore

, unlike being employed under an organisation, self-employment would allow the person to choose the field he needs to

endeavor

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endeavour

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such

as, art, programming, investing, etc, thereby leading to an increase in job satisfaction.

However

,

besides

all the colourful benefits provided by self-employment, there are

also

some disadvantages to it.

Firstly

, unlike working for an establishment, there will be no stable source of income for a freelancer,

for instance

, many of the freelancers working in the entertainment industries were hit badly by the Covid-19 pandemic.

Secondly

, people starting their own business often become stressed out due to managing finance and sometimes even give up due to lack of motivation,

thus

making their situation even worse. In conclusion, nowadays we are observing a tremendous shift in the working culture of millennials, where fewer individuals prefer to work for an employer. Benefits like flexible working hours and job satisfaction are the main reasons for

this

change in mindset.

However

, there are some disadvantages to being non-staff

such

as, inconsistent source of income and an increase in stress.