Self-Employment

Philip Morgan

Running a business is hard and rare, isn't it? Especially in America where you pay an extra self-employment tax (or bear the regulatory cost of being your own "employee"), medical insurance is super expensive, etc. Amiright?

Or maybe it's easy and common? Maybe all those barriers and burdens are easily tolerated, and lots of people try self-employment/starting a business anyway?

Well…

Global Entrepreneurship Monitor reports that 55% of Americans have started a business in their lifetime. And since the average lifetime is not yet over, we can assume that the percent of Americans who will ever start a business is even higher than 55%.

Source: https://noahpinion.substack.com/p/yes-most-americans-own-capital

That number blew my mind. And it challenged me to think more clearly about the stories I tell myself about self-employment.

-P