EFFICACY OF SELF-EMPLOYMENT TOWARDS ACHIEVING SUSTAINABLE DEVELOPMENT GOAL EIGHT

Abstract

The nature of self-employment is such that it enables an adult to live up to financial expectations and ultimately helps survival.  Goal 8 2023 depicts Sustainable Development Goal for economic growth, employment, and decent work for all. The study adopted a qualitative approach in order to give an in-depth knowledge of the study. This is so necessary because the misconceptions and prospects of every self-employed vary from one another. The population for the study comprises practicing self-employed individuals who are conveniently selected. A convenient sampling was used to actualize ten (10) respondents who were willing to participate in the study. Semi-structured interview, which accommodates open-ended questions, was employed in the study. The result of the study shows that certain misconceptions, which are; huge capital is needed, it’s a retirement job option, and prospects such as steady growth, profit increase anytime, flexible schedule, and self-induced promotion are prospects that keep the respondents in self-employment. The study concludes that key factors for a successful self-employment venture include focus, consistent traits, the ability to delay gratification, wise spending, accountability, awareness of trends in the business, and above all, stability in meeting customers' demands. The study suggests that the misconception that a large startup capital is necessary should be dispelled, as consistency in regular employment can lead to growth.