Nowadays many people choose to be self employed, rather than to work for a company or organisation. what could be the disadvantages of being self employed?

Nowadays, there are various types of employment for job seekers but self-employment is the most popular among people. There are many benefits of

this

like greater flexibility, higher earnings from profit, and self-administrative.

On the other hand

, there are some huge risks associated with it like variable pay and no replacement which are not a cup of cake for everyone.

Thus

, even though people choose to be self-employed, they should take into account the disadvantages associated with it. On one hand, a business does not provide a safe cushion for constant wage,

instead

, income generated through profits is often variable.

For instance

, a sugarcane trader will earn huge profits during the crop season but will remain idle during off season.

Thus

, annual profit generated through business is often dependent on the demand for the product or services. These variable payments often create stress and insecurity among the family members.

In addition

to income, non-replacement is another major risk involved with it.

While

working in a company, there are temporary replacements are hired from the start but not in self-employment.

For example

, if a freelancer has taken some contractual jobs,

then

the person is solely responsible for the completion of the task. In the event of sickness or accidents, those responsibilities are not transferrable to another person.

Thus

, self-employment does provide huge profits but is a huge headache in difficult times.

To conclude

, business and freelancing are highly rewarding in some cases but are often stress amplifiers and huge troubles in case of non-completion of jobs. Each individual should consider each aspect of employment carefully before considering it as their primary income source.