Nowadays a lot of people prefer to be self-employed, rather than working in a company or organization. I believe this is because when they become self-employed, they have a more flexible time as they work from home; However, the disadvantages following these advantages such as the amount of income can vary and retirement fund and insurance fund are not provided during working.
Self-employment brings many positive effects to workers which are relatively essential for their work life balances. While those who work in a company have a fixed schedule, those who involve themselves in self-employment are able to set up their own work time. It allows them to spend more time with their family, as they work from home. As an example, a person that works in their own business has more spare time in daytime, compared to those working at Google or Facebook. Moreover, as they are working from home, they would save that would otherwise be spent for transportation fees.
Not limited to advantages, self employment also brings various disadvantages. One of the drawbacks is the unfixed amount of salary, leading them to economic fluctuations. For instance, the downfall in the number of sales will decrease the amount of the owner’s income; however, the rise in sales volume leads to a greater amount of revenue. Furthermore, the insurance and retirement fund are not covered by the company, as they become their own boss.
In conclusion, self-employment has its own drawbacks, although it brings many benefits to the workers. Whether it has disadvantages or advantages, it depends on the conditions of workers.