In today’s world, many more people are looking to start their own business and work for themselves instead of being an employee. This trend has both advantages and disadvantages which will be discussed in this essay.
One thing that is most beneficial to entrepreneurs is the freedom that self-employment brings. To many people, being their own boss gives them the room to think and to work more efficiently. Moreover, they would be able to have creative liberty when it comes to their own life and the direction of their company. Another advantageous point is that the financial rewards, were they to succeed, are much greater when compared to working for someone else. For example, Airbnb was a startup in 2007 that went from 200 000$ to a gigantic 25 billion dollars in 2021. If one is willing to take the risk, they could become the next billionaire.
However, entrepreneurship is not for everyone due to the great financial risks involved. As not everyone is a risk-taker, they may feel that the idea of putting all the eggs in one basket is a terrible one. They may not be comfortable with having the chance to face bankruptcy and having to sell off their assets. This risk may be lowered if given sufficient funding and competence from the owner. Furthermore, the stress of owning a new company is of no benefit to most people. With the financial risks and the numerous tasks one needs to perform in order to run a company, it is safe to say that there is much stress and mental strain involved in the process. This is not something that many can endure in the long run and many may break before reaching the goal. Despite this, were an individual resilient and patient, they could make it to the end of the road without much trouble.
On balance, despite the numerous challenges involved in starting a business, it is still a great way to achieve financial stability. If given enough dedication and funding, I believe that this is a great way to have a good source of income as well as social recognition
In
today
’s world,
many
more
people
are looking to
start
their
own
business and work for themselves
instead
of being an employee. This trend has both advantages and disadvantages which will
be discussed
in this essay.
One thing
that is
most beneficial to entrepreneurs is the freedom that self-employment brings. To
many
people
, being their
own
boss gives them the room to
think
and to work more
efficiently
.
Moreover
, they would be able to have creative liberty when it
comes
to their
own
life and the direction of their
company
. Another advantageous point is that the
financial
rewards, were they to succeed, are much greater when compared to working for someone else.
For example
, Airbnb was a startup in 2007 that went from 200
000$
to a gigantic 25 billion dollars in 2021. If one is willing to take the
risk
, they could become the
next
billionaire.
However
, entrepreneurship is not for everyone due to the great
financial
risks
involved. As not everyone is a
risk
-taker, they may feel that the
idea
of putting all the eggs in one basket is a terrible one. They may not be
comfortable with having
the chance to face bankruptcy and having to sell off their assets. This
risk
may
be lowered
if
given
sufficient funding and competence from the owner.
Furthermore
, the
stress
of owning a new
company
is of no benefit to most
people
. With the
financial
risks
and the numerous tasks one needs to perform in order to run a
company
, it is safe to say that there is much
stress
and mental strain involved in the process. This is not something that
many
can endure in the long run and
many may
break
before
reaching the goal. Despite this, were an individual resilient and patient, they could
make
it to the
end
of the road without much trouble.
On balance, despite the numerous challenges involved in starting a business, it is
still
a great way to achieve
financial
stability. If
given
enough
dedication and funding, I believe that this is a great way to have a
good
source of income
as well
as social
recognition