Truth: Any-sized businesses can have a 401(k) plan, even the self-employed. Around 59% of small business owners who don’t have a 401(k) plan think their business is too small.* No business is too small to have a 401(k) plan. Companies of all sizes, from the self-employed to businesses of thousands of employees, use 401(k) plans to get ready for retirement. All that’s needed is the desire to set up a plan.