A person who is self-employed essentially works for oneself. A self-employed person typically is required to personally provide goods or services in return for income.
Generally, if a self-employed person does not work the cash inflow stops. This is the point of difference between a self-employed person and a business owner. More on business in a moment.
Self-employed people include many tradespeople and professionals, such as small accounting and legal firms and consultants.
It is even more important for these people to develop their skill set. Without further development they run the risk of falling behind others in their field, and becoming less sought after and valued by the marketplace.
As these people are their own employer, they will not be entitled to a severance or redundancy package, which may assist in work or career transitions.