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by adding a chair, a desk, lighting and storage. THE ASSOCIATED PRESS
Whether that is a “good news” or a “bad news” story depends on how you spin it. Daily headlines tell us that many boomers will have to work longer because they haven’t saved enough to finance a long retirement.
Yet today’s “newly self-employed” are more educated than the general population and more educated than previous entrepreneurs. If you ask them why they are striking out on their own, they may tell you it’s just because they finally can. With a lifetime of experience and a financial cushion to fall back on, there is little downside risk.
Technology and a changing workplace ethos have also made a huge difference. When I interview people and my dog is barking in the background, nobody blinks when I explain I work from home. I paid only a few thousand dollars for my website upgrade completed last spring and now it costs me nothing to market to the whole world without leaving my desk.
I never planned to start my own business, but somehow, I landed on my feet.
Related: 5 things boompreneurs should know
However, if you are considering going solo it’s a good idea to develop a business plan first and arrange at least a preliminary consultation with an accountant and a lawyer. Getting any necessary permits and setting up your books properly can save you a lot of grief later on.
These government websites also have useful information about government requirements:
Sheryl Smolkin is a Toronto lawyer and writer. Contact her through her website and follow her on Twitter @SherylSmolkin.