Self-employment is working for one's self. Self-employed people can also be referred to as a person who works for himself/herself instead of an employer, but drawing income from a trade or business that they operate personally.

To be self-employed is not necessarily the same as being a business owner: A business owner is not required to be hands-on with the day-to-day operations of his or her company, while a self-employed person has to utilize a very hands-on approach in order to survive. According the US Bureau of Labor Statistics, only 44% of businesses survive the first 4 years in business.

Policymakers increasingly view self-employment in the form of youth entrepreneurship as a possible solution to the youth unemployment crisis. However, many experts believe only 20% of all people are fit to run their own businesses, so it shouldn't be relied on as an "easy fix".

In some countries, (the US and UK, for example) governments are cracking down on disguised employment, often described as the pretense of a contractual intra-business relationship to hide what is otherwise a simple employer-employee relationship.

Contents

• 1 Self-employment in the US
  • 1.1 US Taxation
  • 1.2 401k retirement account
• 2 Self-employment in the United Kingdom
  • 2.1 UK Taxation
• 3 References
• 4 External links

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• Society: Work: Temporary Employment (9)

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