People Like Working For A Company Rather Than Starting Their Own Business | Band 7.5 IELTS Essay Sample
People like working for a company rather than starting their own business. Why is this the case? What can be done to encourage people to start their own business?
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Band 7.5 IELTS essay sample
When it comes to job opportunities people believe that being employed by a will help them achieve more progress in their lives rather than engaging in / pursuing)self-employment. This is because the fixed monthly wage that someone gets when employed by a company is more reliable. However, there are many ways to inspire people to start their own ventures.
The main reason that encourages people to seek employment rather than launch their own business is the guaranteed monthly income they get when they are employed by an organization. In other words, when employees work for a company they are assured of hourly rates and annual leave. However, this might not be the case for a self-employed person because the income earned from the business might be variable as many businesses experience loss and profits from time to time according to the market conditions. Another reason is that a business requires a vast amount of time and knowledge to be successful in the industry but, nowadays, many people are not willing to put in that level commitment.
Despite this, there are many measures that can be taken to motivate the businessmen and businesswomen. Firstly, the governments can implement loan schemes that allow people to borrow money at low interests as many of them suffer from financial difficulties when they start out. Secondly, many local businesses face failure because of their inability to compete with international giants. Hence, to prevent this, the government should enforce rules and regulations that prevent large conglomerates from flooding the market with cheap goods.
In conclusion, although working for a company is preferred by many people entrepreneurship should be promoted because it promotes large scale economic growth in the country. The governments can achieve this by providing financial or other incentives to people who want to start up.
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