Current in Entrepreneurship Blog

From Gallup and Quickbooks here is the 2019 Gig Economy and Self-Employment Report revealing some interesting data derived from THE IRS and the Census Bureau.  Florida, Georgia and Vermont have the highest percentage of self-employed, and entrepreneurs in general fall  into five primary trades -professional services, repair and personal services, construction, administrative services, and retail trade.  Of those self-employed 54% also do work as traditional employees.

Workers are responding to increased opportunities and incentives to become self-employed. Traditional survey data has greatly understated both the level and increase in the self-employed population by focusing only on primary work, when in fact there has been a significant increase driven by people supplementing their incomes through gig work. This upsurge presents a social challenge, in that it exposes workers to higher job insecurity and limited access to health insurance and other benefits.

At the same time, many workers seem to like the autonomy and independence of these arrangements. They benefit from the income it affords them and are engaged in the work. In fact, self-employed workers with only one job — as opposed to those juggling multiple jobs — rate their work situation higher than workers in one traditional full-time job as an employee.  In describing and thinking about these challenges, public policy leaders, journalists and scholars will have to adapt to the more complex work relationships that are unfolding, as additional workers participate in the self-employment economy.

The PDF Report:

https://quickbooks.intuit.com/content/dam/intuit/quickbooks/Gig-Economy-Self-Employment-Report-2019.pdf