Self-Employment: How Independent Contractors Fuel the Growth of New and Existing Microbusinesses
The Self-Employment: How Independent Contractors Fuel the Growth of New and Existing Microbusinesses report explores the roles of self-employment and independent contracting in the microbusiness economy, delves into why individuals become self-employed, the challenges and opportunities that shape their experiences, and identify how stakeholders can help these self-employed entrepreneurs thrive.
The self-employed sector has emerged as a powerful force in the modern economy, reshaping conventional perceptions of work and entrepreneurship. The significance of self- employment is evident in its critical role in driving microbusinesses, serving as a linchpin for the 96% of U.S. businesses with fewer than ten employees. As the leading advocate for microbusinesses in the United States, the Association for Enterprise Opportunity (AEO) is uniquely positioned to explore the intricate interplay between independent contracting and microbusinesses within the self-employed sector.
In 2023, AEO initiated a study to gain deeper insights into the experiences of self-employed individuals engaged in independent contracting-a notable form of self-employment within the microbusiness economy. Based on a combination of interviews and surveys involving 950 individuals, this report explores the roles of self- employment and independent contracting in the microbusiness economy. It delves into why individuals become self-employed, articulates the challenges and opportunities that shape their experiences, and identifies the types of support they require to thrive.