Study Shows Social and Economic Impacts of Self-Employment
Self-employment can be a social and economic equalizer, as shown in a new analysis by Ooma. They reported on the number of self-employed workers over the past 30 years to reveal how it’s a driving force of innovation that can offer increased opportunity for marginalized groups. Some self-employed individuals from lower socio-economic statuses recorded increased earning potential compared to what they found at traditional jobs. Women with children appreciate the flexibility of self-employment since they can work outside of standard 9-to-5 hours. Self-employment benefits move beyond the individual and create positive effects on communities. Local startups, restaurants, tech companies, and personal training programs can all benefit from a pool of self-employed workers to partner with them. These smaller businesses can offer unique services and products that customers can’t find from large corporations.
The team’s 30-year data collection shows a resilient market for self-employment. Despite some declines after 1994’s peak self-employment numbers, the pandemic ushered in a bounce-back period for self-employment.
infographic by: www.ooma.com
