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  • Writer's pictureMeetu Jain

Why Are People Choosing Self-Employment over Job Nowadays?

Updated: Jun 29, 2023

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?

The modern era has seen a drastic surge in the population of young entrepreneurs and freelancers. These are the individuals who do not fancy the idea of regular employment with fixed remuneration and rather are more passionate to follow their dreams. There are several pivotal factors leading to this trend, having its own share of pros and cons.

To begin with, the most preponderant of all the factors behind youngsters favoring entrepreneurship is their desire for self-identity. At a young age these days, people feel like creating their own independent mark on society. They do not feel motivated by the idea of working under authority. Furthermore, these optimistic individuals have faith in their ideas and dreams and do not lack the courage to take risks. Moreover, they are ready for putting in dedicated hard work to reach the position they wish to. In addition, they look down upon the monotony and constraints regular jobs might bring and intend to explore fresh and diversified opportunities. Also, there are chances to make greater earnings than a full-time job might provide. Hence, some people find self-employment as the best option for them and opt for it.

However, alongside all the convincing beneficial factors, there are some demerits of owning a business. One can never ignore the risk of failure of even the best ideas due to lack of capital or the right marketing strategy. Thereby, Instead of making any profit, people might run into losses due to the unavoidable fixed costs involved. Besides this, without cautious balancing, the flexibility may turn into procrastination as the dedication may turn into prolonged working hours, both having serious implications. Not just this, the uncertainty of income involved in own work might become a cause of depression as compared to the satisfaction due to assurance of a regular fixed income. Due to the above, many people find this as over-ambitious.

In conclusion, while being one’s own boss might seem lucrative, one must not ignore the risks involved.

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