Nowadays many people choose to be self-employed, 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 the modern world, there is tremendous growth in career opportunities for self-employed people or employees in the country. These days a lot of working individuals prefer to be self-employed rather than to work for any organization since they vouchsafe flexibility and the privileges of not having to be answerable to anyone. Inevitably, there are certain drawbacks of self-employment

such

as financial losses. Self-employment comes with an enormous number of merits. A working individual prefers to be self-employed than struggle under any peer pressure because it has the flexibility of attendance at the office. One can take a leave of absence from the endeavours as and when required without prior notice. They must take work-related decisions for which they are not liable to report to any superior authorities about their whereabouts.

On the contrary

, the same benefits are not enjoyed by any employee of an organization.

For instance

, A self-employed person decides to take a holiday without informing anyone.

However

, Self-employment has its own share of disadvantages. One must bear the fruits of loss if at all incurred during the course of work. A self-employed individual is solely responsible for the damage to the organization. Despite the losses, salaries to the employees are unavoidable.

For example

, the association decides to buy some shares and its price goes down. Losses are incurred by the institution. In conclusion, A portion of working people would choose to run their own company than work for any other company because they come with a lot of advantages

such

as flexibility and independence which sufficiently exceeds the disadvantages

such

as organizational loss.