In the modern world, many individuals prefer to establish their own business, rather than becoming an employee to another institution. This concept seems to stem from the idea that they do not want to be under control by others, however, some disadvantages may accompany this direction.
In regards to the reason behind that, this is attributed to their excitement, many might feel they will not be able to achieve their dreams, either because they are restricted from trying new techniques or their suggestions for improving might get rejected, and this is common in companies that are owned by people who prefer being safe than risk developing . For example, the owner of a successful factory in Sudan, once stated that he worked for an industry, where his supervisor rejected most of his ideas for improvement , which lead him to resign from his position, and begin his own career, where he can implement his ideas freely, and succeeded.
In spite of that, this approach carries disadvantages, and mainly the financial aspect. Beginning a new business requires a large sum of money, which is a problem that faces many younger individuals . Many of them seeks loans to buy a store or import products and such. Nevertheless, this makes them need to work harder to pay their obligations to banks, or else might end up losing their business or face legal actions. In 2020, a number of young Saudi Arabian business owners, took loans from a bank to expand their company. Unfortunately, the sales was not high as they expected and ended up selling their companies to pay their debt.
In conclusion, becoming self-employed might offer a chance for aspiring individual to explore their potential freely, without being prohibited for using their thoughts, However, the financial downside is an obstacle they may need to solve in order to proceed in their journey towards success.