Released July 24, 2007

STILLWATER, Okla. – Self-employment across America has been on the rise for years and data from the Census Bureau shows this trend will continue.

Recently, the Census Bureau released the latest numbers from 2005 showing more than 20 million Americans are now self-employed.

Taking a further look, each day 2,356 Americans decide to go into business for themselves, said Glenn Muske, Oklahoma State University Cooperative Extension Service interim associate dean, assistant director, family and consumer sciences.

“These companies account for 78 percent of all United States businesses,” Muske said. “They also obtain annual receipts of $951 billion collectively.”

Georgia was up 7.6 percent and Utah was up 7.2 percent, showing the highest increase in the states. The overall national average was 4.4 percent.

Muske said Oklahoma grew less than the national average with 3.2 percent.

“Web search portals were the fastest growing sector, where the number of self-employed soared to a 41.2 percent in one year,” he said.

According to the IRS, a person is considered self-employed if any of the following apply:

• You carry a trade or business as a sole proprietor.
• You are a member of a partnership or limited liability company that files a Form 1065, U.S. Return Partnership that carries on a trade or business.
• You are otherwise in business for yourself.

“Self-employment in Oklahoma is on the rise, even though numbers are below the national average,” Muske said. “Data shows that in Oklahoma, the total for all non-employer sectors has increased since 2002 when the total was 228,077. In 2004 the number grew to 248, 416.”

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http://www2.dasnr.okstate.edu/Members/katie.reim-40okstate.edu/self-employment-is-booming-nationwide

Katie L. Reim, (405) 744-6792, katie.reim@okstate.edu