What’s the difference between self-employed and independent contractor?

All independent contractors are self-employed, but not all self-employed people are independent contractors. “Self-employed” is a classification, while being an independent contractor is a term that describes people who are hired by third parties to complete work on a contract basis.

Is it worth it to become an independent contractor?

If you want the flexibility and freedom to create your own schedule, offer the services you want, and the ability to grow your business the way you want, then it’s entirely worth it to become an independent contractor. And with so many low-cost business ideas , anyone can get started.