It has been observed over the past few years that more start-ups and freelancing companies are imerging, indicating that people are more comfortable being self-employed rather than working for a company or organisation.
One of the biggest reason for this change is the earning opportunity, where people are not bind to a fixed salary instead they can potential earn more compared to working in a cooperate system. Moreover schools and university now focus more on developing creative mindsets and teaching how the real world works instead of giving theoritical and out dated education. By focusing more on practical knowledge young adults become creative and open their own business. Not to forget, with the use of internet which is available globally people can open a international business without the need to have an office or staff all working can be done at home or any other comfortable place with flexible hours rather that working 9 to 5 everyday.
However being self-employed has its own risk. Starting with instable income, while a cooperate job pays a fixed amount monthly, it is not the case with people who are self-employed their earnings may differ periodically making is subject to high risk and potential high profit. A survey conducted by Forbes stated that people who are self-employed tend to work more hours than people working for organizations or companies, moreover self-employed people are at a higher risk of stress and depression. The initial cost of staring a start-up can be huge, which can shatter the confidence of a person seeking to be independent in terms of finance.