Nowadays many people choose to be self-employed, rather than to work for a company or organization.

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Lately,
people
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are pivoting towards
self-employment
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and owning a business rather than working for a company or corporation. I believe the reason for
such
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development is mainly because of the freedom one gets to experience.
However
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, like every coin has two sides,
self-employment
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also
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has its disadvantages.
Firstly
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, it does not give a stable source of income and
secondly
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, the concept of pension wouldn'
t
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work in
such
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cases. On the one hand,
people
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prefer being independent and free. Working in a 9-to-5 job does not give the freedom to explore other aspects of life.
Moreover
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, many do not get paid well for the number of hours and tremendous effort they put in.
For example
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, 70% of employees working in Alzet, a pharmaceutical company, aren'
t
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satisfied with their current pay and believe they deserve better.
On the other hand
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,
self-employment
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isn'
t
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a cup of tea for many. It requires
people
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to have a lot of patience and mental strength. Importantly, the major drawback of being self-employed is the fact that one's income purely depends on how well their business runs.
For instance
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, 20% of
people
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who had start-ups in India went back to working for a company because they couldn'
t
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make the bare minimum money needed for survival.
Additionally
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,
people
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who choose to be self-employed their whole life wouldn'
t
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get the luxury of getting a pension once they retire. In conclusion,
self-employment
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has its advantages and drawbacks. The advantages include independence and freedom,
while
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it's disadvantageous in terms of financial stability and lack of pension.
Submitted by vani13padmakumar on

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Topic Vocabulary:
  • self-employment
  • independence
  • entrepreneurship
  • overheads
  • global markets
  • niche audiences
  • work-life balance
  • flexible hours
  • traditional employment
  • entrepreneurial culture
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