Self Employed Declining Profits refers to a situation where a self-employed individual experiences a decrease in their earnings over a period of time, typically due to factors such as changes in market conditions or decreased demand for their services. This can be a challenging situation for self-employed individuals, as they may need to adjust their expenses or seek additional sources of income to maintain their livelihood. In some cases, government programs such as the Self-Employment Income Support Scheme (SEISS) in the UK may be available to provide financial support to self-employed individuals experiencing declining profits.