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

At present time, many individuals’ attitude towards starting businesses is shifting to building up private startups and companies.

Instead

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of being employed, people are becoming interested in being their own boss.

Although

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this

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trend is gaining popularity, there are some disadvantages which make the idea questionable to some extent. In

this

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essay, I will explain both the reasons for popularity and illustrate some of its drawbacks.

To begin

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with, there is a huge tendency among many communities to start their own business rather than get hired by some corporations.

Firstly

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, because of rapid development in technological innovations, like the internet, many famous entrepreneurs have emerged from

this

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era of successful startups. It means that starting a business is easier and has a great chance of prosperity these days.

As a result

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, many folks prefer to look for the needs of the modern community by themselves and through their own company find the proper way to meet those requirements.

Secondly

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, self-employment gives the worker the chance to create a favourable working environment.

For example

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, hiring people with the same personality to make a quiet and reliable space for sharing information and new ideas.

In addition

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, when someone works for an organization, there might be some limitations for the employee to show creativity, because of the bureaucratic atmosphere.

While

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in contrast

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, self-employment gives the population limitless chances for favourable changes.

On the other hand

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,

this

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type of career comes with some disadvantages. First and foremost, because there is a big competition among small businesses to grow, many would end with bankruptcy and not enough finances to recover.

In other words

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, there is not any support from higher powers or shareholders to help.

For example

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, during the COVID-19 pandemic, a large number of small private businesses declared bankruptcy and many lost their only job,

while

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on the other hand

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, folk who were working for the government as an employee had their own permanent job unharmed. To summarize, there are tremendous reasons

like

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using more ingenuity why some people prefer being the owners of their job,

however

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,

this

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approach may be vulnerable to some economic or social shocks.