There is no restriction on the type of work that you may undertake. You could work for an employer or yourself. The only restriction is that the employment must be both of the following:
full time
undertaken in a Specified Regional Area in Australia.
The Australian Bureau of Statistics defines a 'full time position' as one in which employment is normally for 35 hours a week. You are allowed to work in up to two concurrent part time jobs to meet the one year (35 hours a week) full time work requirement.