Got laid off, and have a very decent severance package all of which I want to invest into my business.

I'm waiting for my EI to kick in, but haven't done any of the paper work in the legal sense to become self employed as I don't expect to make enough money to live off for atleast another 7-8 months (its a niche, industry so there is a long ramp up time).

My question is, should I even bother registering the business? I have very bad ADHD and can no longer take medication due to other medical conditions.

Having a separate dedicated business bank account would help me manage my finances during the initial startup phase.

I understand that I can open a regular bank account and just use that for the business.

However, I'm trying to think long-term, and would also potentially apply for a business cc sometime in the next few months, hence why I'm considering registering my business.