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a good business person has to be able to put his ego out of the picture and look hard at the net profit and total hrs spent working. very few can do this. that is why 80% fail.
in the poor side of town the failure is much higher for true self employment.
on the other hand, poor side of town stats show pte works very well even pte quasi self employment, like tupperware avon ect as long as they can get some sort of welfare assistance. of course they never declare the income. LOL.
Do you think they are failing because of the taxation (not keeping enough of their money) and entry to market, b/c of hard subsidies to corporations, or because they were short sighted?
Not to get political, but I think a lot of people don't go out on their own because of the accessibility and affordability of health care. And that's a shame because entrepreneurs can be a real economic engine.
The number one reason I work my part-time job (I retired at 48) is for the killer medical benefits. If Trump and Co. repeal Obamacare and premiums drop, I won't need the job.
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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Quote:
Originally Posted by tommy64
Being self-employed is great, it's being an EMPLOYER that sucks.
The gov't has over-regulated businesses, and good employees are really hard to find/keep.
Unless employees are grinding out the work, you have to do it all yourself. And then you ain't making nothin' if you ain't workin',
I have found this to be true. After working in a good job for 17 years, I then had my own business for 16.
Paying the state a "business and occupation tax" that was a percentage of gross revenue, not profit, having to deal with licensing, business insurance, ever-increasing commercial/industrial rent, paying for your own medical insurance, and the difficulty in finding reliable employees was stressful. Add to that the long hours, the ups and downs, and lack of ability to take off for more than a day and eventually it wears you out. I was ready for a change in 2009 when I took a job again, now have 5 weeks paid vacation, and plenty of other good benefits, most importantly a regular paycheck, and can leave work behind me when I walk out of the office. As a manager, I still hire and fire people, but it doesn't affect my life like it did before.
Just wondering if there is anybody out there like this? Or is everybody in for the rat race? Isn't there some freedom intellectually and spiritually about working for ones self, even if the money isn't as good for working at a corporation?
Some of these thoughts have come to me in the recent recession and I am just wondering if I am the only one. Recently I have been trying to increase my dev skills and start up some consulting/freelance business.
I am still looking for a job for now in IT, but just to get more money and until I get myself up and rolling, but eventually I think I want no part of working *for* anybody again.
I really hate that corporations have eaten up a lot of mom and pop stores and even taken over individuals ideas. I assume it is more efficient, but at what cost.
I totally agree with you. I may aim to work at a small IT firm that appears to be willing to give me a chance (let's see how things go when things cool down after their change of management.) However, long term, it would be best to work for yourself. Social Security and Medicaid are in trouble and, while it might, er MIGHT, be possible to save it all for those 50 and over, those under 50 should probably plan on it being gone, as it will have to be dissolved or changed around in order to avoid the coming default around 2030. I also went into IT but appear, other than my recent break, to have gotten nowhere, and I have a bachelors too.
Would universal healthcare and the elimination of the fear of losing health insurance encourage more entrepreneurship since the burden of healthcare would no longer be on either the employer or employee?
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