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So your "better stuff" is working for someone else instead of all the hassles of running your business?
Yeah pretty much. Assuming you like what you do. I haven't met many people who opened their own business because they wanted to run a business, generally they do it because having their own business is a way to do what they enjoy, or they need the flexibility for stuff like child rearing. So if you have the opportunity to do what you enjoy without the hassles of running a business why not?
in this case, the u.s. performed pretty well, 20th in the world. we also performed far better than countries of a similar size (whether you measure it by population or GDP).
furthermore, the OP and the article do a terrible job of explaining how this particular ranking correlates to job growth. some of the countries that are supposedly "easy to start a business" -- Lithuania, Ireland, Kyrgrzstan -- have very high unemployment rates.
Haha But the US has a very low unemployment rate? 6.7%? Or 92 million people out of 230 million adults capable of working.
Those few with exceptional cognitive abilities that invent something that has the potential to change the world were and continue to be able to achieve greatness. And none of them likely gave a moment's thought to blaming government for what might have been, if only government got out of their way.
50% of all small business fail during the first 5 years. And it has nothing to do with government, federal, state and municipal. Owner inexperience/incompetence is the #1 reason, for failure. Some of these owners learn from the experience and start over. Some never do.
Starting a sole propitiator, register for a DBA and hang out a shingle. That's the easy part. Then they have to separate personal checking from business checking, set up a bookkeeping. They will need money to advertise, stock, someone to man the store and phone, the list goes on.
If business is successful then they need to consider changing status to S-Corp, get council.
I don't know why people who think it's easy isn't doing it instead of complaining about those who do.
I've owned dozens of companies, only one of them have I ever filed as a DBA, and that was only because it routinely had 10K+ customers at one given time, (i.e. football team) and I needed to shield myself in the event anyone, be it a player, or a customer, got injured.
Key words.... "didn't make me a lot of money". Obviously you didn't do things right, (the list is large) and didn't have the product or service that was needed or wanted.
Captain Obvious to the rescue!
The pertinent bit was whether it was hard to start or not, and it wasn't.
Yeah pretty much. Assuming you like what you do. I haven't met many people who opened their own business because they wanted to run a business, generally they do it because having their own business is a way to do what they enjoy, so if you have the opportunity to do what you enjoy without the hassles of running a business why not?
We all have things we enjoy doing but that doesn't mean that we enjoy doing it 7 days a week, 12-16 hours a day. Having money on line, worry if you made the right decision, not knowing if tomorrow business will be good or dry up, paperwork out the zzz, dealing with employees, making sure customers are happy, the list goes on.
Then after all that, getting kicked in the az with massive taxes. No, I'll take it easy, enough to keep it going but to grow it only for government to dig deeper for a bigger money grab, I won't risk it, won't hire more. No thanks.
We all have things we enjoy doing but that doesn't mean that we enjoy doing it 7 days a week, 12-16 hours a day. Having money on line, worry if you made the right decision, not knowing if tomorrow business will be good or dry up, paperwork out the zzz, dealing with employees, making sure customers are happy, the list goes on.
Then after all that, getting kicked in the az with massive taxes. No, I'll take it easy, enough to keep it going but to grow it only for government to dig deeper for a bigger money grab, I won't risk it, won't hire more. No thanks.
Exactly. Though knowing all this I am not sure why you dismiss the idea of joining a larger business?
I suspect Larry Page and Sergy Bin never gave much thought to busting their butt only to have government take away most of their earnings.
lol. Do you know the difference between a s-corp and a c-corp? Very different. C-Corps are generally "big" business.
Google is a "C Corporation" that incorporated in the state of Delaware. It is registered to do business in all other states as a "foreign corporation".
S-corps are generally "small" business. s-corps (flow through entities) which means all profit flows through and is reported on their "personal" income taxes. Just because a small business makes a profit of say $200k does not mean they get to keep it all.
Some of that money must be kept in the business even though they are being taxed on it (retained earnings- at least 3 month minimum oporating expenses so they can pay employees, vendors etc.) If they want to grow the business which usually leads to hiring more people the business owner must keep more money in the business. If government takes too much money instead of money retained in the business it goes to the government.
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