10 Things to Love About Being Self-Employed

There are many benefits to working as an independent contractor or small business owner: freedom, flexibility, control over your work, the chance to follow your passion, and the ability to work from anywhere in the world, just to name a few.

In 2024, over 72 million people worked as independent professionals in the U.S., and that number is only expected to rise in the future. Here are our top 10 reasons why you will fall in love with self-employment.

1. Give Your Income a Significant Boost

More independents than ever before are earning high incomes. In 2024, 4.7 million earned more than $100,000, according to our State of Independence report. Companies are increasingly adding independent talent to their workforces because they need the skills and flexibility that independents bring—and they’re willing to pay for it.

Our Contingent Labor Imperative study found that most companies have been using more independents in recent years, and 76% plan to increase their use of this talent pool even more over the next 18 months.

Discover: How to Increase Your Revenue

2. Build a Career from Your Passion

Going independent is a great way to boost your income, but many people say doing something they love matters more than just making money. It makes sense—being passionate about your work often leads to getting more done. When you feel connected to what you’re doing, it’s easier to spend extra time on it.

3. Be Your Own Boss

As an independent contractor, you can set your own hours and build the work-life flexibility you’ve always wanted. Many independents say they chose this path to gain more freedom, flexibility, control, and purpose in their careers. Finding the right balance takes time and self-discovery, but it’s a journey you’ll be grateful for in the long run.

Discover: How to Find Your Ideal Work-Life Balance

4. Pick Your Own Projects

One of the most empowering parts of running your own business is having the ability to say no. If a project doesn’t feel right or fulfilling, you have the freedom to walk away when your heart isn’t in it. These conversations, whether with yourself or potential clients, aren’t always easy, but it’s important to recognize that you can say, “It’s not you, it’s me.”

5. Work From Anywhere in the World

In 2024, 18.1 million American workers identified as digital nomads—location-independent workers who use technology to travel and work from anywhere. As an independent professional, you have the tools and freedom to run your business wherever you choose. With cloud-based services, mobile offices, and constantly improving technology, home can be wherever you want it to be.

Learn: How to Become a Digital Nomad

6. Tailor Your Business to Your Interests

When you run your own business, you control your learning opportunities. Each project you take on may require new responsibilities and skills. Staying up to date through personal growth or diverse work experiences can give your business an edge when building new work relationships.

7. Make Tax Deductions Work in Your Favor

Running your own business can be expensive, but it comes with some unique perks. From office supplies to professional memberships and subscriptions, there are many business expenses you might be able to write off as an independent worker.

Don’t Miss This: Self-Employed Tax Deductions You Can Use

8. Create the Perfect Work Environment

Instead of spending hours stuck in traffic, paying for tolls and parking, or working around a train schedule, you can choose a workplace with a commute that fits you. As an independent contractor, you have plenty of options—like a home office, coworking space, coffee shop, or private office building.

9. Expand Your Network While Meeting New People

Being an independent gives you a unique chance to meet people you might not encounter in a typical work environment. After all, networking is key to starting a successful business. You can connect through LinkedIn and social media, join professional groups, or attend events to stay ahead in marketing yourself and finding leads.

Learn: How to Boost your Small Business Growth With These Networking Tips

10. Find Your Creative Freedom

As a self-employed professional, you have the freedom to be creative. You decide how, when, and with whom you work. Your ideas are yours alone, and since there’s no manager or team to go through, the only feedback you’ll get comes from your clients, who are already invested in your ideas. When you’re your own boss, no idea is ignored!

Additional Tools and Resources for Independent Contractors and Self-Employed Professionals

If you’re looking for more support to grow your small business, explore MBO Partners’ blog for expert tips and strategies. You’ll find helpful advice and insights to help you take the next step on your independent journey.