SELF EMPLOYMENT, PROS & CONS DISCUSSION

Self enterprenuership- is a situation where an individual takes risk ro invest his own capital, his own skills and intelligence in management of a business with an aim of getting income or making profit.

Advantages of self employment

1. The person is independent as one can make all decisions

2. Unlimited income- the more he works the higher the earning

3. Creates job opportunities for others

4. One can exploit his potentials

5. Provides goods and services to the members if the society

6. Personal satisfaction because of doing what one likes

7. Control over working conditions- beings ones own boss means control the working surrounding

8. Prestige i.e owning personal car in a village full of old friends in school. Feeling proud of own self.

9. It creates one to bw craetive and innovative

Disadvantages of self employment

1. One may not have enough capital for starting business

2. One may have limited skills interms of management( poor decision making)

3. When the business suffers losses the enterprenuers all of them

4. Irregular working times

5. There is no assurance of income

6. Lead to specialisation which at times leads to boredom

7. Leads to fatigue, exhaustion and reduction in life span due to irregular working hours

8. He dont enjoy any fringe benefits like extra assistance eg medical allowance etc

9. People are accorded at low status

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