Nowadays many people choose to be self employed, rather than to work for a company or organisation. what could be the disadvantages of being self employed?

Entrepreneurship is on the rise in

this

modern world.

Hence

, most of the office-worker are looking forward to changing the 9 to 5 shift schedule.

This

new approach has its own pros and cons, but

this

essay will cover the challenges of being an entrepreneur in

this

competitive

market

.

Firstly

, there are numerous people who entered the

first

time in a

market

and have minimal knowledge or experience in

this

domain.

Therefore

, many of them are caught under the wrong guidance and lose wealth.

For example

, a survey of failed start-ups has revealed that many of the business owners have a pale background in businesses.

Thus

, lack of

market

experience became the sole reason for the shut down of small businesses.

Secondly

,

most

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entrepreneur starts with minimal funds to run their

company

. Later, when their

company

shows growth there is a need for desirable funds to support it.

For instance

, Novice self-employed people visit numerous investors to fund their

company

and are declined by all of the investors because of risk assessment.

Hence

, some of the owners took a huge amount of

loan

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from various unknown sources.

As a result

, they end up in a lump sum amount of debt. In conclusion, starting an individual's own

company

instead

of serving others sounds logical decision,

In contrast

, one should take care of complex aspects of start-ups and true

market

analysis is necessary.

Furthermore

, entrepreneurship is not a piece of cake, which can be groomed easily, it involves stress and unexpected situation for which one should be prepared beforehand.