Nowadays, Many People Choose To Be Self Employed Rather Than Work For A Company Or Organisation

Many people choose to be self employed

Sample essay

Youngsters nowadays prefer to work for themselves rather than being employed by a company or organisation. In this essay, I shall give reasons as to why more and more people are choosing to be self-employed and list out its disadvantages in the following paragraphs.

To begin with, the start-up culture has gained momentum and caught the imagination of the younger generation. Bright, young minds nowadays prefer to be their own bosses and start their own ventures in order to achieve independence in their professional lives. Hundreds of start-ups have received millions of dollars in funding and this has encouraged more and more youngsters to start their own ventures.

However, being self-employed does have its share of drawbacks. One’s own business venture does not guarantee a stable source of income unlike a job with a fixed salary. Financial instability often leads to depression, suicide and adverse effects on family. Secondly, chances of a startup becoming a very successful business are slim. A survey conducted by the Economic Times in 2021 revealed that 9 out of 10 businesses have failed within the first 5 years of establishment. Chances of survival of a scalable business with sound financials and a healthy management are very difficult in the current scenario amidst rising competition.

To sum up, even though the widely popularised startup culture has inspired people to  start their own ventures in order to achieve professional independence, it is very difficult and often impractical to establish successful businesses from scratch in the current scenario of cut-throat competition. This may also lead to financial instability and push them to the brink of suicide due to dwindling incomes.  

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Manjusha Nambiar

Hi, I'm Manjusha. This is my blog where I give IELTS preparation tips.