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?
In recent days, it is commonly noticed that individuals are keen to be a freelancer or establish their own companies
instead
of working for the company.There are numerous reasons behind this
phenomenon and I will elaborate on both causes and cons in this
essay.
To begin
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
at the office, hence
they do not get much time
to spend with their families.Also
, sometimes employees are forced to do overtime without extra wages. In these cases, freelancers are more likely to work
on their own schedule and convenient time
zone which gives them more time
to stay with family.Additionally
,they work
on different projects at a time
and that generates more money.As they work
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
, making more money they can be free from competition with coworkers.
On the other hand
, running own agency or providing own services has some critical drawbacks. Firstly
, if they work
as a freelancer they would not get time
to gain soft skills, such
as teamwork, leadership, time
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
,some studies said that only 8-10% of freelancers can manage a project and become successful service providers.
To conclude
, people tend to be a freelancer for having economical freedom and work
-life balance. Although
it has some drawbacks, still it could be overcome if they gain experience by working for companies, and developed soft skills such
as budget and taxation knowledge so they would become successful in this
field.Submitted by Shamim Hossen on
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