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Band 8

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

#people #work #company #organization #be #case
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In recent days, it is commonly noticed that individuals are keen to be a freelancer or establish their own companies
instead
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 of working for the company.There are numerous reasons behind
this
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 phenomenon and I will elaborate on both causes and cons in
this
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 essay.
To begin
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 with, forming a business or providing freelance services has a range of benefits. Individuals who are working for a company spend a lot of
time
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 at the office,
hence
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 they do not get much
time
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 to spend with their families.
Also
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, sometimes employees are forced to do overtime without extra wages. In these cases, freelancers are more likely to
work
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 on their own schedule and convenient
time
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 zone which gives them more
time
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 to stay with family.
Additionally
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,they
work
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 on different projects at a
time
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 and that generates more money.As they
work
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 on a project basis or hourly basis they get higher standards than the local pay rate which gives them financial stability.The latest survey on Bangladeshi freelancers revealed that they earned second highest after the garments industry in Bangladesh.
Besides
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, making more money they can be free from competition with coworkers.
On the other hand
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, running own agency or providing own services has some critical drawbacks.
Firstly
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, if they
work
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 as a freelancer they would not get
time
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 to gain soft skills,
such
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 as teamwork, leadership,
time
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 management, and communication which may lead them to depression. As an individual, he/she needs to complete all the tasks related to a particular project by themselves which will impact the deadline and if they missed the deadline, they would lose their clients.
Also
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,some studies said that only 8-10% of freelancers can manage a project and become successful service providers.
To conclude
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, people tend to be a freelancer for having economical freedom and
work
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-life balance.
Although
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 it has some drawbacks, still it could be overcome if they gain experience by working for companies, and developed soft skills
such
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 as budget and taxation knowledge so they would become successful in
this
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 field.
Submitted by Shamim Hossen on

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Topic Vocabulary:
  • self-employed
  • company
  • organization
  • freedom
  • independence
  • income potential
  • flexibility
  • working hours
  • working location
  • passions
  • interests
  • decision-making
  • business practices
  • disadvantages
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