The similarity between being self-employed and owning a business out of the above choices is that you or your business produces something. Whether you personally make it or you own a business that produces something, something is being produced. You are your own boss in both situations, you likely make all of the decisions in both but with owning your own business there is a team that can help. Normally if you are self-employed you can't take time off and generate revenue because you are the sole worker.