Nowadays many people choose to be self-employed

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Nowadays many people choose to be self-employed, rather than to work for a company or organization.

Why might this be the case?

What could be the disadvantages of being self- employed?

 There is little room for doubt that the recent generations prefer being self-employed than hired by reputable companies which can guarantee them more structured and predictable career paths . The reasons behind this phenomenon , as well as the disadvantages which self -employment may bring, deserve our scrutiny. 

Why people would rather be self-employed could be due to the increasing prevalence of freelance jobs. Thanks to the advancement of technology, companies could now post job online with just a few clicks, allowing aspiring talents to apply for the job without geographical constraints.  The booming of the online job application comes with the concept of freelance jobs , which grants a large extent of freedom to job seekers. It is no longer compulsory for them to commit to a sole company, but to allow them to work for multiple entrepreneurships if they decide to work as freelancers. Not only can the job seekers find a job via the internet conveniently, they can also work in a freer environment. Undoubtedly, these benefits could be attributed to the advent of self- emloyment.

While self-employment provides job seekers with a variety of benefits, one should not neglect the negative side of self-employment. Little do people know, self hired people suffer from financial difficulties from time to time. The cause of these financial difficulties may not be merely about how much effort one has put into his or her job. Indeed, it could be uncontrollable variables that are out of one’s reach, such as a sudden change of government policy on the industry. Take Japan’s residential industry as an example. In 2017, Japan government imposed a ban to stop residential household owners from renting their property to tourist, resulting in a large scale of financial recession among rental business and hitting the self-employed hardest.

In lights of these facts, one can conclude that the flexibility of self-employment could be attractive to job seekers and companies.While recognising the advantages of it, one should not overlook that it may also undermine one’s financial stability. 

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