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?

Organisations are based on the unified work by the various people working on the same path. They might have different responsibilities but their aim is to keep working on the betterment of the company. With the advancement and fast-paced life, people have generally grown a liking of being their own boss.

This

has led to individuals working as freelancers and opening new ventures where they can work independently. In the following ,paragraphs we will discuss the reasons and demerits associated with it. First of all, lack of enough facilities is one of the main reasons behind the increasing statistics of self-employment.

This

includes fewer pay, more working hours and the absence of health insurance in many organisations so people choose to part ways with their employer.

Secondly

, with innumerable qualified personnel adding to the market every day, there is a lot of competition everywhere. Adding to it is the inflation rate which is highest in the history because of the pandemic.

For instance

, there was a spike of 13% in unemployment in the USA after COVID.

Thus

, there is a shortage of jobs

that is

leading to the path of freelancing in general.

Thirdly

, an unfriendly atmosphere and strict

as well as

ineligible managers and bosses are

also

important factors in

this

regard.

On the other hand

, there are multiple drawbacks to it. One needs to be fully aware of taking responsibility for everything that would come across in

this

kind of empowerment. A single mistake can literally drop a person to the bottom as everything from finance to planning is run by an individual alone.

For example

, there is no quality assurance department that would look after the final execution of any project. Another disadvantage is unlimited working hours and an undecided working schedule that comes with it as there is no 9 to 5 mode available.

Finally

, unlike a job, there is no fixed income every month as you never know when you are going to get another project so you should always try to save something for later.For In conclusion, I will say that

although

there is a charm in working independently and enjoying the power, there are many disadvantages too. As they say, with power comes responsibility, the same is applicable here without a doubt. You need to be a master of all and highly dedicated to your decision if you really want to be successful in the future.