I assume you'd be tailoring the CV to match each job application? In that case I'd have a totally honest version with something like "career break" and a bit of detail for forward looking companies who'll appreciate the honestly and a BS version with something like "Personal Business Development" and crap hinting at your own company for the ones who'll expect your life to take second place to their profits.
To be honest, I wouldn't want to work for anyone who thinks having a year off is a bad thing, but if the choice is between eating and not eating it can be useful to stretch the point a little to gain time. Anyway, if they want a suit on a career ladder chances are they know his name before they start looking at CV's and you could include chainsaw juggling in the hobbies and interests and it'd make no difference.
Andy
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