For a tradesperson, the dream of starting your own business usually involves being your own boss, making your own rules and schedule, and hopefully earning more money. The reality can include those things, but there is an entirely separate skill set and workload to consider. Sales, administration, finance, HR — you can outsource some of these functions, but the ultimate responsibility falls to you. It can also turn into a grind, said electrician Carly Steiman, between the trade labour and hustling for new work. “You’re constantly networking,” she said. “You’re constantly selling yourself, tastefully. You are constantly learning.” Steiman has been an electrician for 18 years. She incorporated herself after working in film production as a contractor and joining a film union in Toronto. The union told her there were advantages if she incorporated. “So I went to a lawyer and accountant downtown and I did all the paperwork and then I was invoicing production companies, and I was doing residential service calls,” Steiman said. Her company, Lady Electric, now serves Vancouver for residential and light commercial clients, but Steiman didn’t stop with one business. She launched the Tradeswomen Calendar & Exhibit for women in trades, a national campaign showcasing women in trades, including a touring exhibit. She also started Workbee Home Services, a home maintenance services firm to help busy families and seniors manage their properties. “I think what being an entrepreneur unlocks is when you see a problem, you don’t just complain,” Steiman said, noting that Workbee was started because she felt the so-called “sandwich generation” and seniors were enormous and underserved markets. “It breaks the ceiling that you can actually build a tool or solve the problem or improve a bottleneck. For me, I look at the economy and I’m like, ‘There is so much opportunity.’ I don’t look at the economy and complain and say, ‘There’s so many problems’ and do nothing about it.” That being said, being a business owner is humbling and arduous, Steiman added. Just getting a new business off the ground can be a lot of work, said Barbara Knoblach, a financial planner with Money Coaches Canada. A would-be entrepreneur needs to confirm there is enough demand for their work, have contacts and potential customers, have six months’ worth of expenses in savings, and ideally some jobs already lined up, as well as working capital to get a business started, she said in an email interview. Aside from assembling your professional team — bookkeeper, accountant and financial planner, for instance — it’s also critical to charge enough for your work, Knoblach added. “Depending on your trade, you may have considerable expenses for tools, equipment, vehicles, subcontractors, insurance and materials,” she said. “You also need to account for the time you spend on work that cannot be billed directly to your customers. If you don’t take these expenses into consideration, you may end up working very hard without making much money.” You should also review options for health benefits and disability insurance. Without employer benefits, Knoblach said, you have to protect your health and income in case of illness or injury. New business owners will frequently find themselves navigating novel scenarios, Knoblach said. If you have employees, what will you do if they call in sick before a big job? What happens when business slows down, or if customers are late to pay? “At the same time, your operating expenses continue,” Knoblach pointed out. Ultimately, she felt tradespeople should be cautious in starting their own company, with full awareness of the financial implications and workload. If you succeed, it is a rewarding path, Knoblach said — but it is not an easy one. “Being good at your trade does not necessarily mean you will also be successful at running a business,” she said. “These are two different things.” There are other options for running a company rather than just starting solo, Steiman noted. Small trades companies — “mom and pop shops” with few employees — might be willing to sell the business when the owners retire. Whatever the path, and despite all the work, owning your own business has many perks, Steiman said. You can choose the jobs you take on, you can have your own culture and values, you can be a leader in the community, you can be a mentor in the industry, you can figure out your own margins, you can work with others if you want, or work alone if you prefer. Steiman sees many opportunities out there for entrepreneurship and trades. “I think a lot of people that are going to be successful are going to embody perseverance — and that is showing up every day, waking up early, having a day planner, being organized, being on it, and being self-determined,” she said. “If you are somebody with those qualities, then no matter what you do in life, you will be successful. And if you decide to become an entrepreneur, you will be very successful.” --- Nina Dragicevic, The Canadian Press This report by The Canadian Press was first published Nov. 2, 2026.
