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?

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Nowadays, many people are leaving their nine-to-five jobs and starting their businesses, leaving society in a conundrum - why are hard-working employees quitting their corporate jobs and creating the path of entrepreneurship? The Reason could vary person-to-person, but the most common answers are flexibility in the office timing, passion for owning a
business
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, and money earned proportional to efforts and hard
work
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put into the
business
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, unlike cooperate jobs where some people do not get paid for extra time. In
this
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essay, I will discuss the reasons for
such
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a shift and the disadvantages of being self-employed. On the one hand, being a
business
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owner comes with flexibility in the
work
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schedule. Individuals can plan their day as per their preference.
For instance
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, they can skip the peak hours metro rush and conveniently delay their start.
In addition
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, if they have to put extra effort into their
business
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, the reward (money) would be prominent. The passion and dedication towards their
business
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is
also
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higher than being employed by someone else.
On the other hand
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, self-employed people manifest higher financial risk. If the market goes down, the impact would be fatal.
For example
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, in the crash of 2008, many self-employed
business
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owners declared bankruptcy. Apart from that,
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individuals
also
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experience disastrous
work
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-life balance, as they always
work
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. They can never leave the
work
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behind, impacting their health in the long run.
To sum up
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, we discussed the reasons motivating employees to quit nine-to-five and start their ventures. Flexible time and passion to
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for themself are the key highlights.
Then
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we briefly shed some light on the downfalls of being self-employed - higher financial risk and disturbed
work
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-life balance.
Submitted by sameersharmarg 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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