IMPORTANCE OF SELF EMPLOYMENT IN 2021.
The COVID-19 pandemic has been there for over a year now. During this period of time, There have been some drastic changes in the world. Speaking of a developing country like India, various issues, changes, new drawbacks have been found out. The health sector in the country has been greatly affected. The pharmaceutical sector has shown an insane surge in growth and profit. Each and every business or company has been affected and hit by this pandemic. However, the worst part of everything is that the employment in the job sector has been drastically reduced. This is majorly because companies are laying off their existing staff, or reducing their salaries, and are unable to recruit more people due to losses or lack of need.
While the job sector has shown a heave decline, the lockdown has also resulted in many small businesses that can be done inside the home. Starting from baking and cooking, to online tuitions, fashion designing, handicrafts etc., the youth has been starting to grow out on every business. The social media has become a prime marketing sector in this regard. With the insufficient number of jobs in the present scenario, self-employment comes up as the solution in present scenario.
A major loophole is found in the health system of the country. There has been a rising demand of doctors and medical practitioners now. But the number of people actually qualified and interested to go into this field is limited. The core sectors of jobs which include engineers, graduates from other streams, etc… have seen a supersaturation. Hence in this dire need of the hour, where there are over a lakh people competing for a single job, self-employment among the youth is the solution. It is often not advisable by parents to take a road less traveled. But in today’s saturated market, we need to look for new opportunities, new ideas, new types of professions. Digital marketing, a term that was absolutely new a few years back, is in the hot seat now. Social media influencing, Network marketing, Content creator on social media platforms, Video Editing/VFX Animations, Freelancing– all these professions are new to the Indian market. Startups and new businesses are the major parts of self-employment. All these new types of professions have a common thing. All these include the Internet or the IT Sector in some way or other. Be it SEO Management or Machine Learning or Web Development, all these have found their way into the world through the Internet. Even stock marketing and trading are done in online platforms these days. In 2014, it was considered that the IT market has been saturated. However, here in 2021, we are still finding out new prospects and professions in this sector. Hence, it is a complete myth that the market is saturated in this present scenario. “A new door always opens when the previous one closes.” – New startups, professions, jobs have to be found out and implemented.
We understand the importance of self-employment, but does it have any advantage over the customary professions and jobs? Yes, it does. In most professions and jobs that have been prevalent, you need to have certain qualifications, age requirements and degrees to apply for it. It takes a long time to rise in position when you are starting. Frustration and depression hit while working in 9 to 5 jobs daily in some field which you are uninterested at. In these modern and new areas of profession and self-employment, your personal skillset and passion matter. You can start out as early as you want and earn money from a young age. A side source of income always gives you a backup plan in case your main objective fails.
Starting out early has its own benefits. It makes you independent from a young age, you perceive the real world on your own. Your profits and earnings cannot be scaled because they come along with your happiness since you are following your passion. Despite an appreciable amount of risk factors in the case of businesses, the self-employment sector is going to be the new trend in the coming years. So start out early, discover your passion, who knows how big of an entrepreneur you might become in the next decade.