Nowadays many people choose to be self empoyed, rather than to work for a company or organisation.Why might this be the case?What could be the disadvantages of being self employed?

In

this

cutting-edge era, the competition has increased to a very high extent which can be seen in every aspect of life whether personal or professional. The craze towards lavish lifestyle has changed the way of earning as

people

are getting attracted towards modern living.

As a result

, the way of earning has changed from

last

decade as masses are getting more involved in self-employment rather than working for some organisation. There could be several disadvantages of

this

trend. As mentioned, there are many reasons behind

people

choosing self earning resources rather than jobs. I will be discussing various causes and cons of

this

change in the given impending.

First

of all, the major concern of unemployment in our country is the root cause of

people

adopting self

business

opportunities. To illustrate, every year, lakhs of

people

get their graduation degree and percentage of youth getting employed is almost negligible and

consequently

, the depression and crime rate have increased.

Moreover

,

people

are working on a particular skill so that they can start their own

business

to earn their livelihood.

Furthermore

, if someone is working under an employer, he has to work under a supervisor.

Additionally

, working under pressure, longer working hours, low salary and employer exploitation has made the scenario even worst, which results in a bad work-life balance and

thus

, leads towards choosing self-employment over jobs. Though it is true that entrepreneurship has attracted many youngsters as one needs not to work for other companies and there are flexible working hours.

Also

, one becomes his own boss which boosts up the confidence of oneself but it can arise several disadvantages which cannot be ignored.

Firstly

, setting up a

business

calls for a huge investment which probably would not be possible for an individual who just passed out from college.

Secondly

, a competition will require better resources and the person himself will be responsible for his losses which can bring a lot of tension and make chaos in his life. Apart from

this

, there is no fixed earning after a month as well as no job security. To conclude, self-employment is a great source of earning a great livelihood and pros and cons are part and parcel of any

business

. In short, what matters is

,

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a definite goal, proper planning, experience, patience and determination that makes a strong foundation for any

business

.