An increasing number of people today are opting to start their own companies instead of working for a company mainly because of the increased support for young entrepreneurs. In my opinion, the main disadvantages of not having an employer are lack of expertise and its overall effect on businesses.
The number of self-employed relates to young entrepreneurs and has its origin in widespread angel investment across a variety of industries. One well-known example of this can be seen on the popular show ‘Shark Tank, ’ where a panel of investors and executives hear product pitches and compete to purchase stakes in budding entrepreneurs’ businesses. This show has launched a number of successful products by securing initial funding, which has led to a trickle down effect from this show: not only has it turned specific dreams into realities, but it also encourages viewers in general to be more ambitious and has therefore been one of the main catalysts for the frenzy of self-run businesses popping up in recent years.
Though there are undoubtedly positives to all these start-up companies, I think that the overall impact is negative because it results in many poorly run businesses. For example, in recent years a number of ride-sharing apps, including Uber, Grab, Lyft, Be, Go-Viet and countless others have sprung up. The established companies provide a functioning app with high-quality service to meet the growing demands of this industry. However, the majority of small startups find themselves in over their heads with apps that barely function and driver shortages that specialise in inconveniencing customers. It would be better for the people starting these derivative businesses to either work in companies, gain valuable experience, look for gaps in the market, and then develop develop worthy competitors or simply be content to have a good job in a good company that they do not own.
In conclusion, I feel that the rising number of new companies has led to a cult of overconfidence. If more people were satisfied working for others rather than pursuing unrealisable ambitions, this would likely lead to better consumer products across the board as well as increased national economic prosperity.
An increasing
number
of
people
today
are opting to
start
their
own
companies
instead
of working for a
company
mainly
because
of the increased support for young entrepreneurs. In my opinion, the main disadvantages of not having an employer are lack of expertise and its
overall
effect on businesses.
The
number
of self-employed relates to young entrepreneurs and has its origin in widespread angel investment across a variety of industries. One well-known example of this can be
seen
on the popular
show
‘Shark Tank,
’
where a panel of investors and executives hear product pitches and compete to
purchase
stakes in budding entrepreneurs’
businesses
. This
show
has launched a
number
of successful products by securing initial funding, which has led to a trickle down effect from this
show
: not
only
has it turned specific dreams into realities,
but
it
also
encourages viewers
in general
to be more ambitious and has
therefore
been one of the main catalysts for the frenzy of self-run
businesses
popping up in recent years.
Though there are
undoubtedly
positives to all these
start
-up
companies
, I
think
that the
overall
impact is
negative
because
it results in
many
poorly
run
businesses
.
For example
, in recent years a
number
of ride-sharing apps, including Uber, Grab, Lyft, Be,
Go-Viet
and countless others have sprung up. The established
companies
provide a functioning app with high-quality service to
meet
the growing demands of this industry.
However
, the majority of
small
startups find themselves in over their heads with apps that
barely
function and driver shortages that
specialise
in inconveniencing customers. It would be better for the
people
starting these derivative
businesses
to either work in
companies
, gain valuable experience, look for gaps in the market, and then
develop develop
worthy competitors or
simply
be content to have a
good
job in a
good
company
that they do not
own
.
In conclusion
, I feel that the rising
number
of new
companies
has led to a cult of overconfidence. If more
people
were satisfied
working for others
rather
than pursuing
unrealisable
ambitions, this would likely lead to better consumer products across the board
as well
as increased national economic prosperity.