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 disadvantage of being self-employed?

In recent times more and more people are starting their own
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business
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businesses
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or becoming
a freelancers
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freelancers
a freelancer
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compared to being employed
under
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by
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a company.
Although
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the main reasons for
this
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trend are flexibility and earning
higher
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a higher
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income
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, drawbacks of self-employment like facing higher risk and unstable
income
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should not be ignored. An individual who is self-employed has freedom of choice.
In other words
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, they do not
work
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for anyone which means they can make unrestricted decisions in their workplace.
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Moreover
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,Moreover
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they are not bound to answer anyone if their action has negative consequences. Another reason for
this
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trend is, people who have their own
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business
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businesses
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tend to earn higher
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income
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incomes
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compared to
to
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apply
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those who
work
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in a salaried job.
This
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is because
,
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apply
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most of the time
business
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models are profitable and
major
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a major
the major
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portion of the
profit
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belongs to the owner of the
business
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.
For example
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,
retail
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a retail
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shop owner has the privilege to enjoy the majority of the
profit
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whereas
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he pays a small
potion
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portion
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of the
profit
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as salary for his employees. Businesses and
free lancing
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freelancing
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have many risks
such
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as Instability and loss. To explain
this
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further
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,
a
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apply
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self employed
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self-employed
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individuals have to face the loss and have to take full responsibility which can cause stress and anxiety in them. Another major drawback of self-employment is not having
sustainable
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a sustainable
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income
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.
In other words
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,
employee
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an employee
the employee
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working
a
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apply
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for a company enjoys a stable
income
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regardless of the performance of the company
while
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self employed
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self-employed
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individual’s
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individuals’
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income
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depends on their performance.
For instance
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, a driver, who drives
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a
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taxi may not earn
single
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a single
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penny if they do not go to
work
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due to
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illness
whereas
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, an employee will be paid his salary even if he is not working
due to
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illnesses
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illness
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as their medical leaves are covered
according to
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the
labor-laws
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labour-laws
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.
To conclude
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, even though there are many advantages like earning large
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profit
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profits
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and enjoying
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work related
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work-related
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flexibilities in self-employment, disadvantages in terms of job insecurity and unstable incomes should not be taken lightly .

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Topic Vocabulary:
  • self-employment
  • freelancing
  • entrepreneurship
  • autonomy
  • financial stability
  • work-life balance
  • financial insecurity
  • lack of support
  • resources
  • long working hours
  • uncertain income
  • job security
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