In its most basic sense, self employment simply means that someone works for themselves. People often refer to the self employed as either entrepreneurs or business owners. However, there are several types of self employment that can be pursued by anyone wanting to work for themselves. Here are some of the various types of self employment opportunities available:
Entrepreneurs / Small Business Owners – Generally the term “entrepreneur” is used when talking about small business owners of traditional businesses, although the term does have broader connotations, and is used to describe other types of self employed individuals more now than in the past.
Online Business Owners – Also known sometimes as Webpreneurs, these online entrepreneurs work for themselves earning all of their income online, through online advertising, online retailing, online services, or in other ways.
Home Business Owners – Home business owners are another niche of entrepreneurs. In this case, they officially run a legal business, but their business location is within their home.
Freelancers – Freelancers don’t officially or legally run a business entity, but they’re still self employed. Freelancers generally work under contracts with clients to provide various services, sometimes working at home, and sometimes working on a temporary basis from the client’s business location.
Independent Consultants – Independent consultants usually work as independent contractors on a per-project basis consulting clients on various business matters. While essentially freelancers, independent consultants often manage their freelance efforts in a manner more similar to running an official business (and some independent consultants can be sole proprietors, partners, or other types of business owners as opposed to freelancing at all).
Investors – Some individuals enjoy a self employed life by earning their incomes strictly through investing in other businesses, projects, or stock markets.
Partnerships – It’s not necessary for a business owner to actually own a business exclusively to be considered self employed. May self employed people own a business with one or more partners.
Owner / President / CEO / Stockholders – This group is a sort of combination of several of the other types of self employment, only targeting larger corporations or organizations. There may be one owner in a large private company, several owners at various executive levels, or simply a group of stockholders owning the company (some of whom may be earning their entire income based on the success of their investment in that company).