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Nowadays people tend to have their own business because of the modern world. Why do they need this? What are the risks?

#people #business #world #risks
These days the world has developed and progressed tremendously because of technology and globalisation, which has made people inclined towards starting their own
business
. In
this
 essay, I will discuss the reasons for the necessity of
this
 trend and
ennumerate
Correct your spelling
enumerate
 a couple of risks that people face when they embark on a
business
 venture.
Firstly
, in terms of individuals who feel the need to start a
business
. In
this
 era of
globalisation
Add a comma
,globalisation
show examples
 the number of people who are able to do a job has increased enormously because of international trade relations and developments in Information technology.
For example
, in the early 2000s, the call-centre industry in India saw a sudden boom because of cheaper labour than the US and
as a
result
Add a comma
,result
show examples
 the American businesses hired Indians to do their digital processes.
Consequently
, the number of jobs in
USA
Correct article usage
the USA
show examples
 declined and citizens there had to choose
business
 opportunities to make a living.
Additionally
, because labour was cheaper due to globalisation, jobs weren't as lucrative as expected.
This
 was another reason for individuals to seek out
business
 ideas and earn much more than they would have as an employee.
Secondly
, in terms of the risks involved in running a company, there are quite a few. One of them is the possibility of not making enough profit to cover the investment made
to begin
 the
enterpriise
Correct your spelling
enterprise
. Another risk is the possibility of competitors who are able to provide the same service at a lesser cost, which might put the
first
 company out of
business
.
For instance
, the products being sold on Amazon.
in
Change preposition
apply
show examples
 are cheaper than the ones on another e-commerce website called myntra.com because of their free delivery policy.
Although
 myntra.com was one of the
first
 e-commerce sites in India, it was overshadowed by Amazon.
Change preposition
apply
show examples
in
Correct your spelling
is
show examples
 because of
this
 policy. To conclude, the discussion above can be summarised in that world markets and shrinking job opportunities have made getting into
business
 a necessity despite the risks involved.
However
,
with
Change preposition
apply
show examples
a little innovation and striving for excellence will make
this
 trend a positive one for those who choose
this
 path.
Submitted by Leena Kapoor on

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