The lecture discusses about the disadvantages of self employment and warning that it has much risks to take. It says it can be attractive, but it very hard for it to succeed.
First, the reading discusses that self-employment allows the person to get rich.
But, the lecture argues that being the boss doesn’t make a person rich with an absolute
percentage. In reality, it is told that 50% fail within a year and 95% fail within 5 years. Moreover,
even though the company survives, it only earns a modest income.
Second, the reading states that being the boss allows the person to determine one’s destiny. He is
allowed to make every decision for every sector of the company. It referred as being the captain
of the ship. On the other hand, the lecturer argues that being self-employed is a rough road of
doubts. Because the boss has to make tough decisions, take full responsibility for everything and
has to make countless sacrifices in order to maintain the life of a boss.
Thirdly, the reading passage argues that self employment gives the reward of creating something
from the scratch. Watching your business grow is the reward that most entrepreneurs acquire.
On the contrary, the lecture discusses that there are no riches to gain in self-employment
businesses. Banks do not lend loads to uncertain businesses and every financial obligation must
be taken without any benefits such as health insurance, pensions and etc.