Many young people after graduation, hesitate about whether to work for a company or set up their own business. It’s better to decide relying on your own experience and personality. However, there are different aspects to discuss when choosing, which way is suitable for you.
In the first place, the most required for starting a business is initial capital. Only a small percentage of young people have their own money to invest, and usually, they get it from already rich parents, which makes building their career much easier. All the rest need to earn themselves, otherwise to take out a loan, which is a big risk for the first work. And, to my mind, it isn’t worth it.
Perhaps a more important aspect to consider, however, is market competition and lack of experience. A person, for instance, could get a really great education, be the best student on his/her course, and know everything about the economy as a science. But despite this, usually, such a human has no idea how business works in reality. Lack of professionalism, soft skills, communication, and networking experience are real hardships in successfully jump-starting a new career. In your own business, undoubtedly, you are the only person taking responsibility for every mistake. That is to say that when you work for a company, your boss pays for your experience, not you. Also, you can study simultaneously, meet new people, learn the economy in practice, upskill and your employer will pay for that as well.
On balance, working for yourself or for somebody is a choice. While thinking of their way, people should take into account their financial resources, readiness to compete, and personal characteristics. From my point of view, owning a business is not suitable for everybody, in particular for recent graduates. In spite of this, nobody can forbid us from trying both.