With the improvement of technology and continuous growth of economic aggregate, in order to satisfy the demands of futher expansion of economies, governments around the world begin to encourage such a model of employment as being self-employed, which appears very temping for many. However, still the vast majority of people opt for being employed in a company and not to set up their own business. This essay will attempt to look into the key factors as to why people may perfer entrepreneurship and major drawbacks to it.

As far as I’m concerned, there are several reasons about why might be this situation, but in general, they can come down to two main one.

To begin with, the first reason why runing a startup has abruptly become popular in recent decades is that technological advances have dramatically cut back the cost of startng people’s own business. In the past, such as the twentieth century , if someone intend to start a undertaking, then he or she must meet certain conditions. Most of all, he or she should possess a sufficient amount of start-up capital, which might be used for purchasing necessary equipment, building office or workshop, purchasing raw materials and so on. Except for this, it’s also necessary for people who intend to be self-employed to master a wide range of expertise. For example, if an art graduate wants to set up a peosonal studio, he or she must have sufficient access to potential clients in order to be able to sell his works successfully, which means that except for the art skill, he or she still must master the expertise of marketing and advertising.

But now, thanks to the development of internet technology, on-line platforms such as Patreon, Booth and Fantia, provide these freelancers with a necessary channel to reach their potential customers. Moreover, development of software like Photoshop, Maya and Unreal Engine make up for someone’s shortcomings of lack of professional skill. Thus more and more people join the tide of entrepreneurship, even though they do not possess enough ability.

As for the second reason, I personally believe that it is the the high development of modern financial system. Modern citizens who mean to start their own business will not be bothered by lack of initial money.

But everything has its price. Self-employed will not be the perfect model of business since there are some risks of beginning one’s own business such as the change of government policy, the rise of rivals and so on. If people fail to start a business, they must bear all the losses alone. Usually, people will lose everything after bankruptcy, which is the risk that most people can’t afford.

To sum up, under the tide of new technology, entrepreneurship is becoming easier and easier for people, but there are also some risk. Therefore, most people still choose to work for a company as an employee.