Photo by Bob Jagendorf

I have resumed reading The Girl’s Guide to Starting Your Own Business: Candid Advice, Frank Talk, and True Stories for the Successful Entrepreneur and now I realize that setting up a home business is more complicated than I thought.

I’ve been thinking of registering my freelance editorial business, mainly for the tax benefits. Even if I did it as a sole proprietorship there are still many business-like things to consider. For instance, I’ve just been reading the section about insurance and now know that I need to get at least three types of insurance: expanded health insurance (to supplement the provincial health insurance provided by Ontario); disability insurance (to help replace my income should I become too ill to work); and, home-business insurance (to cover the cost of my laptop and other home office equipment should they get damaged or lost). Whew!

And now that I’m about to get my certification in childbirth education, I’m considering registering that business as well. Then I would need even more insurance, such as general liability insurance – to protect me should, for example (and God forbid!) a client slip on the floor during a class, break her ankle and decide to sue me.

No wonder authors Caitlin Friedman and Kimberly Yorio called this chapter “The scary stuff: legalities, licenses, permits, financials, and funding”.

Now I have to buckle down and figure out a budget to cover “the scary stuff”, including fees for a lawyer, an accountant, and an insurance broker. I have to admit, this business of setting up a home business is not that easy.

At least I have this book. I’m the type of person who needs step-by-step instructions for the simplest things. And setting up a home business is far from simple.

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