Employment is a major concern of all types of industry. It is referred to as something provided by companies and demanded by people who need earnings.
Production efficiency is measured by the output of the production process for a given amount of time. The amount of output mostly depends on the size of the labor force and the skillfulness of the laborers.
Labor or employment is a major component in business production. To be employed, a person must possess the primary skills associated with the nature of the production. He or she must be able to contribute labor and expertise to the endeavor of the company.
The definition of self-employment is ‘starting and running a successful business or social enterprise’. Many famous companies began this way as visionary men and women patented an invention, created a company or registered a brand.
The benefits Freedom. Being your own boss. Earning more money (possibly becoming rich). Working fewer hours. Independence. Variety and choosing work you enjoy.