Nowadays many people choose to be self employed, rather than to work for a company or organisation. Why might this be the case? What could be the disadvantages of being self employed?

Presently, a number of individuals prefer to leave their reputed jobs and facilities to pay attention to a self-owned venture. I acknowledge that this approach has a wide range of benefits to the entrepreneurs, while others choose to think that it causes a number of detrimental effects on the organizational working environment. In this essay, I will analyze the reasons behind this choice and the notable drawbacks with appropriate explanations. Everyone wants to be financially independent and like to be the king of their own kingdom. The significant reason behind this is the unhealthy work environment in various multinational companies and organizations. As a result, employees face crucial problems includes over-time work, stress, strict deadlines, unhealthy competition, etc. , despite the fact that they are paid with huge remuneration. Moreover, a plethora of people are nowadays having great ideas regarding various areas of business, and they have the potential to execute the same. Meanwhile, a plethora of developing countries have been offering opportunities to the youngsters to open up their own ventures, by reducing the implementation charges and taxes. For instance, in Kerala (a state in India) introduced a new developmental program called 'Yuva' to encourage the arrival of young entrepreneurs into business. Therefore, self-employment considered as the vital change of this decade. There are few disadvantages to this trend. Firstly, it directly affects the employers due to the clear plummet of the job market. The companies and organizations experience pure negligence, even though they are willing to increase the pay scale. In fact, this would influence the growth of the companies and reduces the contribution to the national economy. Secondly, the immediate hike in the self-employment activities generates competition among individuals which later on push back the progress on a large scale. Furthermore, it may become a burden to the youngsters due to the high maintenance cost and taxes. In conclusion, even though the adverse implications of this idea in relevant, in my view innovative ideas of self-employed will boost the economy in its long run.