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 advantages and disadvantages of being self-employed?

Nowadays, a plethora of individuals
prefers
Change the verb form
prefer
show examples
to begin
their own
business
instead
of being employed in a company. A chunk of individuals opines that before starting on
business
a person must have basic skills that can only acquire by working as an employee whilst others are sceptical about it. I;
however
believe that it has both merits and demerits that I will discuss in forthcoming paragraphs.
To begin
with, there are numerous reasons behind the rising trend of startups.
Firstly
, youngsters wanted to work in an esteemed organisation, there are numerous perks working in these
companies
such
as higher salaries or free healthcare services and many more benefits.
However
, it is very difficult to Secure a job in big
companies
as there is tough competition because everyone wants to work in these
companies
.
Moreover
, these
companies
give priority to academic qualifications while hiring as a consequence , a lot of youngsters are filtered out due to lack of education.
In addition
, many folks want to get rich quick
therefore
they start their own businesses .
For instance
, not only the
business
owner has the huge risk of losing his investment but
also
he gets to keep enormous profit if a particularly innovative product or idea worked.
On the other hand
, as a successful entrepreneur, one needs to have in-depth knowledge of the market and years of working experience. Poorly made choices are not only detrimental to the brand value but
also
business
goes bankrupt due to failed speculations.
Moreover
, being self-employed is a full-time job, a person himself has to manage all his tasks during the initial years of his new
business
.
Therefore
, as a consequence ,the CEO finds less time to spend with his family or friends. To conclude, I believe that in recent years the rising trend of start-ups is due to fierce competition between youngsters or desire to acquire a vast fortune in less time.
However
, without proper experience or bad choices can result in any
business
failure.
Submitted by Vipan bro on

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Topic Vocabulary:
  • self-employment
  • freelancing
  • entrepreneurship
  • autonomy
  • financial stability
  • work-life balance
  • financial insecurity
  • lack of support
  • resources
  • long working hours
  • uncertain income
  • job security
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