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

Over the

last

two decades, the number of startups has grown rapidly as people believe their hard work is been shared towards companies' profit and they end up with basic pay.

This

is the biggest reason that people are quitting jobs and inclining towards opening their own businesses. Working in an organization makes you a robot where a set of work is given to you and you have to perform the task

whereas

if you choose to be self-employed you can explore the opportunity and will try to enhance your skill.

For example

, a business owner will earn a hefty amount of money and will keep the profit in order to grow the organization.

Also

, If a person is self-employed, he has the liberty to choose his working hours and plan his schedule.

On the contrary

, working at a convenient time can often make a person lazy and productivity may get hampered

whereas

working in a cooperative environment has a deadline which creates time management.

For instance

, in an MNC you are not liable to take the risk and have a fixed salary which will come even if the company is facing losses.

Moreover

, if a recession hits the market a self-employed will be the one who will be heavily impacted and might face huge losses.

To sum up

, I think working for oneself is definitely beneficial as it enables them to work on flexible schedules with their own terms and conditions. But eventually, they may fail if they don’t meet set targets.

Therefore

, an individual should be aware of the pros and cons of self-employment before venturing into one.