Now-a-days many people choose to be self-employed, rather than work for a company. Why might this be the case? What could be the disadvantage of being self-employed?

The current generation prefer to set up their own business rather than be employed in a firm due to plethora of different factors The rise in self employment is mainly due to the government's favourable policies towards start ups. Since the advent of the "Make in India" initiative by the government, there has been a sharp increase in the number of entrepreneurs. The ease of doing business is increasingly due to the simplified loan processing of nationalised banks in recent years. People also venture into self employment citing the reason "high risk yields high reward". Although this reward comes with certain limitations. One of the major disadvantages in being self employed is, there is no concept of "regular income". Hence self employment offers job security when compared to being an employee in a company. In most cases, working in a company does not require an individual to depend on another person to complete tasks. On the contrary, running a business involves a large number of stake holders which impact the final output. For example, my father who runs a printing press has to wait for long period of time when there is an acute shortage of raw materials that are required to make the printing paper. This would in turn affect the delivery of the final product to the client. Finally, banks lending money for business purposes charge an high proportion of money as interests compared to other loans. I would like to conclude by saying that being self employed is indeed highly rewarding when compared to working for an organisation. Although, meticulous financial planning and execution is pivotal to achieve success through self employment