These days, launching one’s own business rather than working at a company has become increasingly common thing especially for aspiring professionals, because it allows them to earn more money, despite some difficulties. In my opinion, this is a negative option, as young people tend to have a lack of experience.
One possible reason why young generations are opting for independent job is that it gives them a chance to make a significant amount of money. That is to say, they often do not get limited or lower salaries than staff who work at companies, and also profits are based on entrepreneurs’ performance or actions, if they have innovative ideas that can produce cost-effective and suitable products that many people can afford, they are more likely to have a great profession in the near future. For instance, people that recently graduated university tend to come up with wonderful ideas in case of business, creating a new job and increasing financial income. Therefore, some young individuals can succeed in this field owing to their excellent ideas.
On the other hand, organizing self-employed work might lead to downfall due to the need for expertise in the business. This is because young businessmen tend to face many
challenges, although they may have good ideas, experience is still essential. This insufficient knowledge undoubtedly can lead them to failure that brings them risks such as a loss of funds invested for running a business. For example, many businessmen spend money or even have to mortgage their house when needed. Unless these efforts go as well as planned, they may not only lose their collateral, but also suffer from depression, potentially resulting in poor mental health
In conclusion, starting an independent business can be beneficial, as it enables them to earn a substantial income. However, to achieve this goal they need sufficient experience, since a lack of it may lead to financial losses and the loss of their collateral.