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?

In

this

modern era, like everything is changing, the thought process of youngsters is nowhere behind, as they are highly focused on working for themselves rather than burning the oil to help their employers to earn revenues.

Firstly

, we will be discussing its causes and

secondly

, we will explain the repercussions of being an entrepreneur.

To begin

with, nowadays every human being is suffering numerous kinds of societal, family or financial pressure and zero work-life balance adds fuel to the fire.

Additionally

, regardless of late-night workings and making their life hell, efficient employees don't get promotions and bonuses, which pushes them to re-think their decision of continuing the job.

Furthermore

, everybody knows that owners earn better than their employees.

For instance

, I was working in a mortgage company and used to work for 10 hours every day, whereas, freelancers who were sourcing files for us, were earning 5 times higher than me deploying less effort.

Therefore

, it is evident that it takes several months or years to stabilise in own venture, but rapid growth and satisfaction are the factors that drive everybody to do their own start-up.

On the other hand

, being a businessman carries some drawbacks as well,

such

as

,

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it involves huge investment costs and requires a gestation period

to begin

the production.

Moreover

, there is always uncertainty attached to it.

For example

, Covid was a dreadful situation for every employer, as they had to pay salaries to their employees and rent to the property owners, without generating a single rupee revenue for a couple of months.

Thus

, it is clearly a concept of the higher the risk, the higher return. To conclude, undeniably, a large number of youth is focusing on commencing their own venture

instead

of working for others because they can see the potential in their ideas.

However

, there are some risks attached to it, which surely needs to be taken into consideration before jumping on

this

big decision.