Nowadays many people choose to be self-employed, rather than to work for a company or organization. What might be the cases? What could be the disadvantage of being self-employed?

Nowadays, it has become a trend for the younger people to start their own businesses rather than working for someone else. The youth finds it the best possible way to utilize their talents and to make money and
hence
are not hesitating to risk their careers through
such
initiatives.
This
has got a lot of advantages and disadvantages which are discussed below. On the one hand, the modern education system, backed by the initiatives by the government to produce more job-creators, encourages people to become entrepreneurs. Students exposed to
such
an environment naturally have a mentality that being self employed is the best way to pursue their interests.
Also
, any good
business
idea is being welcomed by the private investors and governments are funded generously making self employment very attractive. Programmes
such
as Skill India, Start up India and angel investing are the best examples of the initiatives by the government and private parties.
On the other hand
, most of the people who aspire to become entrepreneurs lack the
first
hand experience of running a
business
and fail to put up a proper
business
plan even though they have creative
business
ideas. A recent study by the Oxford University states that more than fifty percent of the startups have closed down within 2 years because of mismanagement of the
business
. Misplaced priorities, inefficient management of the funds, improper marketing have led to
such
failures making the lives of people who were employed in
such
businesses miserable. To recapitulate, though the option of becoming an entrepreneur looks very attractive, it is very essential for the people to have worked in organizations which run similar businesses, understand the nuances of running a
business
and
then
venture into
such
activities.
Such
steps will help them run a sustainable
business
and achieve their goals.

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