Sometimes, running a one-person business can be a bit isolating. While we hear a lot of buzz about fast-growth companies creating jobs, one-person operations tend to get short shrift. The media tends to overlook the fact that most businesses are sole proprietorships, and they do create jobs–for the owners.
A new study, highlighted recently by the handy Journalist’s Resource site, may help to change that perception. It shows that we self-employed folks are a vital part of our local economies.
The Study “Self-Employment and Local Economic Performance: Evidence from U.S. Counties” shows that in both metropolitan and nonmetropolitan counties, higher levels of self-employment fueled job creation and employment growth.
However, there was one downside. As Journalist’s Resource noted, self-employment was associated with lower income levels than traditional jobs were.