Many good reasons for being independant, and some were discussed in previous posts. In order to be successful as an independant though, you have to learn to be a decent businessman...AND put substantial time into marketing and promoting.I like being with Borealis Records, and consider my time with Folk-Legacy records, a great experience. In both cases you know that the company cares about your work and is knowledgable about folk music. Along with the business arrangement I consider the folks who run these two companies as good friends.
Over the years, I've been with a number of labels AND done independant projects, and with the independant ones you can keep track of every dime....but if you're not good at doing that generally, the paperwork may overwhelm you.
Rick