What are your thoughts on self employment?

I am a software engineer with almost 7 years of experience in frontend and backend. I’ve worked on everything from a minuscule 3 person startup to a big 40k engineer company.

Now I want to relocate with my family so I’m considering continuing with the more traditional/safe employment route or trying self-employment.

But I’m a bit split between the two options.

Can someone share some perspectives?