What is the definition of being self-employed?

Being self-employed refers to having the autonomy to operate one’s own business or work on one’s own terms without being under the direct supervision of an employer. This means an individual is responsible for their own business decisions, including management, marketing, and financial aspects. This status provides the flexibility to determine one’s own work hours, rates, and projects pursued, thereby allowing for true independence in one’s professional life.

The other choices depict scenarios that do not encapsulate the essence of self-employment. Working under a strict employer involves a lack of independence and autonomy, while only working part-time does not necessarily mean one is self-employed, as part-time workers can still be employed by someone else. Being employed by multiple companies at once can also apply to many roles and does not specifically indicate that an individual is self-employed, as they may still be under the employment of others rather than running their own business. Therefore, being one’s own boss is the key characteristic of self-employment.