Nothing ventured nothing gained. If you don't want the risk then there's zero-risk wage jobs everywhere waiting for you.
Don't want to risk everything, just get a job says guy who thinks people aren't being forced into wage slavery.
Why do you need a guaranteed income supplement if your business fails? Just go apply for a job. You can also choose to buy into income protection insurance as a self-employed person. I also know employers can claim certain EI benefits like sickness.
So you don't have to worry about going bankrupt and losing everything while you look for a job?