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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?

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? j3Dy

An increasing number of youngsters choose to start their own business these days instead of working for other people. Moreover, a wide range of reputed and successful businessmen are also in support of these young entrepreneurs and they help these young-ones financially. However, I believe this phenomenon has both merits and demerits and one has to very careful before taking such a decision. There are many reasons behind the rise /increase in the number of start-up companies. To begin with, people face difficulty acquiring a job of their preference/liking in the highly competitive market. Individuals who want to work in an esteemed organization or a well-paid job need to possess high academic qualification degrees or years of work experience. Such requirements already disqualify a large section of job hunters. Next, a few people desire to become rich in a shorter period. To illustrate this, a business can earn a person a hefty sum of money overnight as all the profit goes to the pocket of the owner. However, there are several drawbacks to this. To start with, there is no guarantee that a self-employed person will earn enough to live a comfortable life. When people work for a company, they have the assurance of a guaranteed paycheck at the end of the month; however, when they work for themselves this guarantee is missing. Another disadvantage is that many self-employed people work day and night and do not get time to spend with their family and friends. Thus, it creates an imbalance in their work and personal life. Moreover, a huge difference can be seen in their daily routine which affects their health adversely. To recapitulate, working for oneself is definitely beneficial for young people because it enables them to work on their own terms; however, there are drawbacks such as the lack of a guaranteed paycheck that needs to be considered before choosing to be an entrepreneur.

An increasing number of youngsters choose to This phrase/word (depending on the context) can be potentially replaced with :initiate
start
 their This phrase/word (depending on the context) can be potentially replaced with :possess
own
 business these days instead
 of working for other You use this word too often, consider replacing it withcrowdfamilycommunitynationsocietypublic
people
. Moreover
, a wide range of reputed and successful businessmen are also
 in support of these young Use a comma before 'and' if it connects two independent clauses (unless they are closely connected and short).entrepreneurs, and
entrepreneurs and
 they This phrase/word (depending on the context) can be potentially replaced with :assistassistance
help
 these young-ones financially
. However
, I believe this phenomenon has both merits and demerits and one This phrase/word is too simple and can be replaced with:oughts to
has to
This phrase/word is too simple and can be replaced with:extremelyimmenselysupremelysuperb
very
 careful This phrase/word is too simple and can be replaced with:previouslyprior to
before
 taking such a decision.

There are This phrase/word is too simple and can be replaced with:a plethora ofa number ofnumerous
many
 reasons behind the rise /increase in the number of This phrase/word (depending on the context) can be potentially replaced with :initiate
start
-up This phrase/word (depending on the context) can be potentially replaced with :enterprisescorporations
companies
. To This phrase/word (depending on the context) can be potentially replaced with :initiatecommence
begin
 with, You use this word too often, consider replacing it withcrowdfamilycommunitynationsocietypublic
people
 face difficulty acquiring a job of their preference/liking in the highly
 competitive market. Individuals who want to You use this word too often, consider replacing it withtaskindustrytrialjobproductionstruggle
work
 in an esteemed organization or a well-paid job need to possess high academic qualification degrees or years of You use this word too often, consider replacing it withtaskindustrytrialjobproductionstruggle
work
 experience. Such requirements already disqualify a large section of job hunters. Next
, a few You use this word too often, consider replacing it withcrowdfamilycommunitynationsocietypublic
people
 desire to become rich in a shorter period. To illustrate this, a business can earn a person a hefty sum of money overnight as all the profit goes to the pocket of the owner.

However
, there are several drawbacks to this. To This phrase/word (depending on the context) can be potentially replaced with :initiate
start
 with, there is no You use this word too often, consider replacing it withwarrantycollateralcertificateagreementcontractdeposit
guarantee
 that a self-employed person will earn This phrase/word is too simple and can be replaced with:abundance
enough
 to This phrase/word (depending on the context) can be potentially replaced with :reside
live
 a comfortable life. When You use this word too often, consider replacing it withcrowdfamilycommunitynationsocietypublic
people
You use this word too often, consider replacing it withtaskindustrytrialjobproductionstruggle
work
 for a This phrase/word (depending on the context) can be potentially replaced with :enterprisecorporation
company
, they have the assurance of a You use this word too often, consider replacing it withassuredpledgedsure-fireinsuredprotectedendorsed
guaranteed
 paycheck at the This phrase/word (depending on the context) can be potentially replaced with :expiration
end
 of the month; however
, when they You use this word too often, consider replacing it withtaskindustrytrialjobproductionstruggle
work
 for themselves this You use this word too often, consider replacing it withwarrantycollateralcertificateagreementcontractdeposit
guarantee
 is missing. Another disadvantage is that This phrase/word is too simple and can be replaced with:a plethora ofa number ofnumerous
many
 self-employed You use this word too often, consider replacing it withcrowdfamilycommunitynationsocietypublic
people
You use this word too often, consider replacing it withtaskindustrytrialjobproductionstruggle
work
 day and night and do not This phrase/word (depending on the context) can be potentially replaced with :acquire
get
 time to spend with their family and friends. Thus
, it creates an imbalance in their You use this word too often, consider replacing it withtaskindustrytrialjobproductionstruggle
work
 and personal life. Moreover
, a huge difference can be This phrase/word (depending on the context) can be potentially replaced with :witnessed
seen
 in their daily routine which affects their health adversely
.

To recapitulate, working for oneself is definitely beneficial for young You use this word too often, consider replacing it withcrowdfamilycommunitynationsocietypublic
people
This phrase/word is too simple and can be replaced with:due to the factin light of the fact thatowing to the fact that
because
 it enables them to You use this word too often, consider replacing it withtaskindustrytrialjobproductionstruggle
work
 on their This phrase/word (depending on the context) can be potentially replaced with :possess
own
 terms; however
, there are drawbacks such as the lack of a You use this word too often, consider replacing it withassuredpledgedsure-fireinsuredprotectedendorsed
guaranteed
 paycheck that needs to be considered
This phrase/word is too simple and can be replaced with:previouslyprior to
before
 choosing to be an entrepreneur. 