Self-employment « Dr Alf's Blog





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According to the Pew Research Center, self-employed Americans and the workers they hired accounted for 44 million jobs in 2014, or 30% of the national workforce. Hiring is more prevalent among self-employed Asians, whites and men.

Source: Three-in-Ten U.S. Jobs Are Held by the Self-Employed and the Workers They Hire | Pew Research Center

With traditional jobs increasingly likely to be designed out by technology or off-shored to low-cost countries, self-employment is bound to increase strongly in countries that provide the fiscal incentives.

This trend is particularly generalizable to the UK where there’s also a growing self-employed sector. Unfortunately, in the UK, small businesses, like the self-employed, don’t get the same deal as big businesses. Big businesses are able to lobby and, through the use of tax experts, reduce their tax bill. Typical job growth in big businesses is stacking product on a super-market shelf or a zero-hours contract. It’s well known that real job growth comes more from smaller businesses.

Surely governments should provide incentives for more people to become self-employed?

Thoughts?

View image | gettyimages.com

Be prepared for a surprise when you look at these international statistics on self-employment published by the Economist.

via Self-employment | The Economist.

Despite all the hype about land of opportunity in the US, it’s suprising how few people are prepared to take the risk and be self-employed.

Both John Gelmini and myself have had lengthy careers in international corporate life working for well-known multi-nationals. Then we reinvented ourselves and became self-employed.

For me personally, becoming self-employed was one of my best decisions.

OK you’re your own boss but you need to learn new skills in developing clients, supplier relationships and networking. Also your work must take priority – normal life may get subordinated.

With increasing technology, traditional jobs will disappear at an escalating rate. Career cycles will become shorter and shorter, even for highly qualified professionals.

In many major intersections in India’s major cities, the unskilled stand on corners hoping to get day-work to maintain their frugal lifestyle. With less social security, in twenty years time, this could be happening in major cities around the world.

Sooner or later, you will need to look at being self-employed as your traditional work options dry-up. Spread your risk now and look at self-employment before all your peers. Don’t just be another ‘Me too’, get ahead of the pack!

Thoughts?