Does anyone know what this entails?

I believe your cousin has just realized something he should have done long before. That is, to be his own boss. I understand that working for someone is really an exhausting thing as you need to cope up with the requirements and expectations there are. While being your own boss in your own business is quite a freedom and enables you to enjoy more of life and many others. Just imagine an escape from jail. That's how it feels. Also, aside from it is about time for him to take a good move, it's a good diversion as well to forget the depression he may have had from losing his wife. So the idea is just so good and in time. And to insure insure that the path taken would be worth all the effort, getting help from professional business coaches is a good deal. For some reason you or your cousin doesn't know someone who does it, may I recommend Lars Stork – he offers individual coaching and mentoring services which would be perfect for a full pack guidance for your cousin. To learn more about it, visit http://www.futureafrica.eu/coaching.html