Recently, it is common for individuals to be entrepreneurs instead of working as employees. From a personal perspective, while self-employment allows freedom to run business ideas, I believe that this trend is more detrimental, the reason being financial constraints.
On the one hand, self-employment makes young people more creative. This is because young people are curious, and they often approach problems in new ways to bring out ideas, solutions or innovative products. For example, Elon Musk, who is known as the richest man in the world, has a lot of successful ideas that change the world today such as Pay-pal, electric vehicles, space stations. Therefore, youth can start up with unusual business models, and they could gain significant benefits or opportunities. However, working in a company, employees have to deal with business bureaucracy, which is difficult to implement ideas.
On the other hand, self-employment poses many risks to business-owner. To be specific, they might find it hard to be financially stable. For instance, new business models not only take a long time to make profit, but they also have to spend large amounts of money on marketing campaigns. Consequently, entrepreneurs who do not have strong finances might be bankrupt and lose all their security. However, working in a company they have stable income, insurance, and it is suitable for people who have family responsibility.
In conclusion, it is true that owning a business has certain benefits, namely independence. However, I maintain that it is more detrimental than working in business due to financial constraints.