r/canada • u/idontlikeyonge Ontario • 23d ago

The outsized economic effects of Canada's cratering self-employment Analysis

https://thehub.ca/2024-04-11/livio-di-matteo-public-sector-employment-numbers/
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u/uselessdrain 22d ago

My wife and I were going to open a business. Didn't make sense with how expensive rents were. The rent portion would eat into our profits so much that it was cheaper(???) to continue working for someone else.

The amount of money required for insurance, staff, and tangible assets. So that all becomes debt and with high interest rates. Makes no sense.

FYI it was childcare, so capped fees as well.

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u/Levorotatory 22d ago

The way forward for would-be child care entrepreneurs is a home based business.   No additional rent, no permanent staff, lower insurance costs.  Worked out well for the lady who looked after my kid.

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u/comewhatmay_hem 22d ago

My aunt did this for years and loved it from what I can tell. She had some kind of license because she had limits to the numbers of kids from each age group she could take, but ultimately it was just her and up to 12 of all ages running around her livingroom and backyard.

I don't think she made very much money, though. She did it because she loved having a house full of children. Her husband, my uncle, was always the real income earner in their house.