The struggle between the decision of being your own boss and working under someone is becoming more difficult to make as economic situations become tougher. From evaluation around me, self proclaimed entrepreneurs are quitting entrepreneurship because of difficulty in maintaining a business and reduced sales due to reduced purchasing power from people, an effect of the economic situation. Office workers on the other hand who also have been on one salary grade for a long time now are becoming fed up with how their monthly salary is no longer sufficient to secure a comfortable lifestyle for a month also due to the higher cost of living. What do you think is the way forward?
When it comes to having a business, it has its own obstacles because of things like the rising cost of living in our country, which makes it difficult to pay for things like utilities, transportation, and food with the little money that is earned.
-Facilities.
-Government program and policies that are inconsistent.
-Many different taxes and levies.
-Dumping and undue competition.
-No exposure to technology.
-Inflation.
-Increase in exchange rate.
What do you think is the way forward?
Every person should, in my opinion, have a budget and multiple sources of income. You can work as a civil servant and also run your own business, provided you know what kind of enterprise to start and what kind of environment it will thrive in. You should also research the area's needs before developing a business plan because great entrepreneurs are known for their ability to solve problems. Actually, starting your own business is not a bad idea.