Nowadays many people choose to be self-employed, rather than to work for a company or organisation. Why might this be the case? What could be the disadvantages of being self-employed?

Most contemporary economies have cultivated the self-employment model, which appears very tempting for many.

However

, the vast majority of society adheres to the old-fashioned hierarchy system.

This

essay will elaborate on the key factors as to why some might prefer entrepreneurship and the major drawbacks to it. One of the prime driving forces for people to start their own company is that they long for a sense of control which can be followed by many other factors

such

as better income and more flexible hours.

Besides

the fact that owning your own business brings a sense of luxury and prestige.

Furthermore

, there are many bank loans that accommodate starters with a huge budget

to begin

their lucrative journey.

For instance

, Russia has one of the most profitable bank policies for junior business owners.

However

, lack of guidance is one of the obvious downsides of

this

complex journey that should not be neglected. When an individual decides to work for him or herself, the responsibility for any type of failure will be all his or hers. On these occasions, people tend to feel lost and on their own which can lead to possible bankruptcies.

Besides

, as the founder, they might have to carry the burden of many roles in the company all by themselves;

therefore

, they should be aware of every aspect of each and every job. Take Steve Jobs as an example; he had to fulfil the tasks of both a designer and a full-time project manager. In a nutshell, entrepreneurship has its ups and downs which many consider not worth risking their job security.