Nowadays many people choose to be self employed rather than to work for a company or organization What could be the disadvantages of being self employed

Currently, more and more people prefer to be self-employed rather than working as an employee. This could be due to the flexible nature of the job. I think this is because the corporate world offers little life balance. However, being self employed can be disadvantageous as when people work for themselves. Although there are several perks of being self-employed, a few things about self-employment can cause a lot of stress to an individual.

First and foremost, people doing a corporate job often find it hard to balance their work and personal life. When an individual is working in an organisation, then they will be bound by the rules and regulations of the company. For instance, a lot of employees work in the company, they will work the standard 40-hour work week and follow the dress code, meal plans as well was timings. As a result, many have made the leap to self – employment, hoping they can have more control over their time.

Secondly, being one’s own boss can be exhausting and stressful due to one fact that the monthly income is not fixed. For instance, in the beginning, their income will be a lot lower than their previous salary and it might take many years to even break even. In fact, in the event of an economic recession or a disaster like the Covid pandemic, small businesses are the first ones to be shut down. Another disadvantage is that when people are self-employed, they have no fixed working hours. To the truth, they could end up working 16 to 18 hours a day especially in the initial stages when they do not have anyone to work for them. As a result, working for oneself is definitely beneficial as it enables them to work on flexible schedules with their own terms and conditions. But eventually, they may fail if they do not meet the set targets.

In conclusion, many people become self-employed in effort to keep their work and personal life in balance. Nevertheless, self employed is not easy, it can make greater workloads and stress for those who do not manage well the happenings and the future up-comings.