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QRisks involved in Sole proprietorship business?

I am starting up a small, home based business in the next few months. I realize that in a sole proprietorship situation my business and myself are considered one and the same, specifically in the case of bankruptcy. That being said I am VERY careful with money and live a debt free lifestyle. I also do not plan on financing any part of my business. In this situation are there any other risks that I haven't considered? or any way that I can wind up in hot water financially if I'm not trying to pay back any creditors?

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