Now-a-days many people choose to be self-employed, rather than work for a company. What could be the advantages and disadvantages of being self-employed?

Nowadays the number of start-ups is rising at a rapid pace.Many people rather than working for a company, choose to be self-employed. There are various merits and demerits to

this

trend.

This

essay shall discuss the details with examples in subsequent paragraphs.

To begin

with, the main advantages of having your own job are being independent and self-reliant.

In other words

, there are no fixed working hours and there is no member to boss you. So, one can work at his or her own will without any restrictions.

Moreover

, individuals can earn more than in salaried jobs and are financially more stable. To cite an example, Ritesh Agarwal worked for an MNC and left

this

job to start a business of his own.

Hence

,now he owns one of the largest online hotel markets in the world and is among the top start-ups.

Furthermore

, there are numerous negatives of self-employment as well.

First

of all, as the company is new there is no guarantee of success and they have to put in extra effort to meet the ends.

Secondly

,

to begin

a self business lot of capital and funds are needed.

In addition

, there is no constant and steady flow of income in self-employment.

For instance

, Vijay Malaya who owned Kingfisher airlines was one of the top enturpinor of the world but due to massive debts and rising prices, he became bankrupt.

Thus

, all these assets were seized. In conclusion,

although

there are many risks involved in starting your own organisation, self-employment proves to be more advantageous as it provides job opportunities to others and helps in the economic development of the country.