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?

In recent times, people prefer to become self-employed rather than work in a corporation. Having flexible working hours and earning more

income

are the main reasons for them to build their own business, even though they are more likely to spend more

time

working and have unstable incomes. The main reason more people becoming self-employed today is to have flexible working hours. Unlike working in a company, working for themselves gives them control of their own

time

to balance their personal life. In terms of

income

, it has the potential to earn more compared to working as an employee, because all the revenue becomes theirs without sharing with other stakeholders. Take online fashion seller

for example

, they don’t have to wake up earlier to go to the office,

otherwise

, they can do their hobby like going to the gym

while

monitoring their online shop on their gadget. They are

also

gaining more

income

because all the sales profit gets directly to their account.

However

, becoming self-employed could have a number of drawbacks. First and foremost, they are more likely to spend more

time

working because of the bigger workload and responsibility that they have. Unlike working in a corporation, a self-employed may handle all the work by themselves from marketing to accounting, which they do by themselves.

Additionally

, the annual revenue of their business is unstable

due to

the market condition and how hard their work compares to a corporate job that gives a fixed

income

and other benefits. In conclusion,

although

becoming self-employed gives people control of their

time

and earns more cash, it

also

has a big challenge. Greater workloads and unstable revenue are the main concerns of a business owner.