Working as an employee for companies and firm is visualized as reliable source of income, whereas enterprenurship is more flexible and self focued approach. Individual inclines toward different choices. This eassy will discuss merits and ddemerits of the topic in hand before reaching at any conclusion.
To begin with the advantages of self employement which is a task of responsibilities, patience, effort and solving obstacles onto the way of success. The biggest advantage for a person being his own boss is no supervision. Alongside, schedule is mainly flexible as independent contractor work according to his own choices. Moreover, it provides work life balance as person who mainly adopt such way of buisness can spend more time with family and friend. Undoubtly, this is a risky path as personal losses are unavoidable. Lack of secure income as source of income can vary every annum. Forexample: steve jones failed several times and end up making multimillioner company as apple limited.
On the other hand, as an employee, your work is supervised by different means like by performance appraisal. Hence, work life balance is difficult to maintain. Securing time for personal activities need proper schedule planning. This path is often choosen by most indivdual as more relaible providing employement insurance or coverage in difficult times of termination , For major population biggest relief that attracts people toward 9to 5jobs is that it covers health insurance benefit for family which is relief in unforseen circumstances. Another major factors are Job security and fixed salary. Promotion chances are high and salary gain are observed in this type of job.
According to my opinion, I solely believe that working as an employee is less risky and end up securing pension for future incentives. As proportion of sucessfull self employed contractors are less, making it more compitative to survive in compitition.