Jay Honeck writes:

Owning your own business doesn't insulate you from the effects of a
down economy. If anything, it accentuates the effect, and makes the
impact more immediate.

Owning your own business insulates you from corporate management decisions
that can put an instant end to your career and income. It's unusual to lose
_all_ your clients and _all_ your revenue at once when you're running your own
business, but it's routine to lose all your income at once when you are laid
off from a job working for someone else.