Business for Self - Simplified!

A good portion of the working public is self-employed.  I believe this will continue to be a substantial part of the population and may be even greater in years to follow.   It is a segment of our working population that was not handled very well by our financial institutions, up until the last few years. 

The insurance providers, CMHC, Genworth, and Canada Guaranty have a program called Business for Self Simplified.  There are small differences between the different insurers, but I want to speak of one common element:  The insurer requires you be self-employed for a minimum of two years. So, if and when you decide to start your own business, first go to the Chamber of Commerce and complete an application for a Business License.  You can register your personal name if you haven’t decided on your company name.  The license lasts for seven years, costs about $75.00, and provides solid proof of when you started in business.  If you don’t have a one page license, then the documentation you are required to provide is substantially harder to get.  As a self-employed person make buying a home easier.

One final note: You require great credit to qualify as well.  Get a business license, tend to your debt properly, and your chance of buying a home becomes a real possibility.