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

In recent times, most individuals choose to be sole proprietors rather than

work

for a cooperating group.

This

essay will elucidate both reasons and give the negative aspects of being a sole proprietor.

To begin

with, individuals seek to be self-employed because, the profit they get, is for them only. They will not share the money with anyone because it is their own

company

.

Also

, individuals are not bound by any rules. They can do whatever pleases them.

Furthermore

, they render no account to anyone compared to working in a

company

.

For example

,in a survey conducted in Australia , self-employed people said they do not share their gains with anyone except for themselves and operate their own rules

However

, being a sole proprietorship has its own demerits. When the individual dies, the job collapses because there is no one to look to hereafter.

For example

, Michael Jackson, a renowned CEO in textiles in South Africa,when died no one looked after his job which collapsed.

In addition

, when the owner of a

company

spends the capital, it retrogresses the

work

leaving it in a stagnant position.

Furthermore

, the

work

becomes limited in ideas because the owner takes decisions alone without consulting others unlike the

company

In conclusion, self-employed people spend the profit alone.

However

, when the owner dies the

work

dies off too.