Sharing Daily Discoveries About Personal Finance And Business Topics

Losing Public Benefits of Being Self Employed And Working During COVID 19

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One thing that has been interesting here in Canada are the announced plans where people can get federal funding as a result of the COVID 19 pandemic causing people to be unable to work. Initially there seemed to be only plans available such as EI funding benefits for those who regularly contribute into it such as traditional employees. As well, there are benefits in place for those who don’t qualify for EI as well.

Here was the kicker to think about which makes you think. There are a ton of businesses that are trying to adapt to the times such as offering virtual classes of their services or even going into different fields with the resources they have to make money. Now in theory these benefits and funding should only be for people who have lost their jobs or are unable to work. So if you think about it, does that mean if the end goal is to make money that it is actually better to be lazy and do nothing in order to qualify for these benefits instead of grinding your way to earn money?

I have seen people even try and start things like a food catering business as an example where they are technically making a little money because they can’t work. So in that case would it be better not to do anything at all? Kind of an odd scenario to think about. It’s generally accepted that if you are self-employed then there is no such thing as company benefits for the most part as you literally make the decisions in every way.

But like here would you actually just do nothing and collect money where once everything gets back up and running then you can go back to what you were doing? Or would you disqualify yourself from these federal funding benefits and try to be self-dependent as always by trying to do something even if you are only making say $100 a week?


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