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Interesting this one, I was just talking to a friend who is planning to start ”small” with a project, and has decided to skip on insurance because the cost was going to be several hundred per year. But the product they want to sell, could potentially cause much damage to their clients from just one mishap (not going to go into details), so it’s a case of go bigger to cover the insurance, or my suggestion is forget it.

I know accounting isnt as important as insurance, but if you stuff it up, you have the potential for loss or having a grumpy ATO person on your doorstep, which could cost more then a grumpy accountant. If you can’t afford to have an accountant or insurance, you can’t afford to be in business. thats the problem with people talking side hustles, etc, in reality you are just playing games, get serious or stick to your day job.