Gig Workers are Actually Small Business Owners & Why That Could Mean More Money for You
We surveyed and interviewed SaverLife members who have gigs and side hustles, and one of our key takeaways is you don’t give yourself enough credit for the very meaningful work you’re doing to launch businesses.
It doesn’t matter that your small business is not your primary source of income. You’re an entrepreneur, regardless. You have ambitious goals and dreams, and we see you.
On top of being entrepreneurs, you’re also sole proprietors – meaning you’re the exclusive owner of your small business. And if you’re not a sole proprietor, it’s because you’ve already expanded to the next level.
We know some of you may feel that your gig isn’t significant enough to be a small business, but we want you to understand that the work you do is significant, and you are running a business.
That includes gigs like delivering for DoorDash, driving for Uber, dogsitting for Rover, creating content for Upwork, and completing tasks for TaskRabbit. It also includes all the innovators out there launching brand-new startups for anything from landscaping to hospitality.
The label may seem like semantics, but it’s crucial to realize your true value so you can reach your full potential.
5 Reasons why it matters to identify as a small business owner:
- You’re eligible for tax benefits, including credits, rebates, and write-offs that may come as a surprise if you’re not aware of small business tax code changes.
- You earned it. It takes a lot of risk and work to even plan to start a business. Credit where credit is due.
- There are many programs, products, and resources designed for businesses that are at the exact size and stage of your business. You may be exactly who they’re looking for, and we want you to have access to those tools.
- You’ll have a lot more success and a lot less grief if you structure your business effectively, including things like tracking revenue and expenses and separating your personal and business finances.
- Understanding your business’s value and operating like a pro will make it so much easier for you to get more funding to grow your business.