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that's right, and even a click glance over an Economics 101 book will show that one must have capital.
Capital is what it's all about.
How many of the long-term unemployed have decent capital - not many, I would imagine.
The Jobs Act resolves much of the need for your own capital. People have to stop thinking that they need to supply the capital needed to start a business. In most cases, you can start a business without having any money.
The Jobs Act resolves much of the need for your own capital. People have to stop thinking that they need to supply the capital needed to start a business. In most cases, you can start a business without having any money.
Who is going to provide the startup capital, for an applicant who also has no education, and no demonstrated skills in the type of business, and no apparent management skills or talents.
Is "The Jobs Act" going to hand over enough money to start up a successful and potentially competitive restaurant across the street from McDonalds or Red Lobster, to a person who has never worked in a restaurant before, and who has never had any management experience, and who has not completed any level of education commensurate with any business or management or food service capacity? Just buy him the fully equipped restaurant and hand him the key? As if the only thing necessary to start a business is money? How many chronically unemployed people in the USA would be successful if fronted with startup capital to start their own business?
The Jobs Act does absolutely nothing to provide startup capital, except loosen a few regulations associated with the conventional sources of funding to those who would have been eligible in the first place. Regulations intended to protect the prospective entrepreneur against predatory lenders, who, for the most part, are the only beneficiaries of small business startups..
Here is what is frequently overlooked in such an elementary oversimplification of the big picture. If you are skilled at small engine repair, and no existing shop will hire you to work because there is not enough demand for labor in that field, why do you think you can go into the small engine repair business yourself and there will suddenly, magically, be enough work for you to earn enough money repairing small engines to support your family and insure their health care and send your children to college?
Who is going to provide the startup capital, for an applicant who also has no education, and no demonstrated skills in the type of business, and no apparent management skills or talents.
Do you think "The Jobs Act" is going to hand over enough money to start up a successful and potentially competitive restaurant across the street from McDonalds or Red Lobster, to a person who has never worked in a restaurant before, and who has never had any management experience, and who has not completed any level of education commensurate with any business or management or food service capacity? Just buy him the fully equipped restaurant and hand him the key? As if the only thing necessary to start a business is money? How many unemployed people in the USA would be successful if fronted with startup capital to start their own business?
You need to READ my post. I was suggesting that startup capital is not a limiting factor in starting a business. I never stated that everyone would be successful with a poor business plan if only they could just get capital. Clearly, you need a viable business plan. Opening a fast food place across the street from a McDonald's Restaurant is not a viable business plan.
It seems to be a recurrent saying on the P and C forum.
There was a story of a 61 year old lady who was begging for a job,and the answer to the thread was that she should have started her own business.
I read about it everywhere. Most believe it leads one to be financially independent,and that a business person will never be unemployed.
Are those who start businesses more successful than the others who didn't ,who just worked hard at the jobs they have?
What are some pros to owning a business? Cons?
The reason is that the US is sinking into 3rd World status, where more and more people end up having to be "self-employed" chewing-gum and lotto ticket vendors. OK, I'm exaggerating, but you get the point. We're heading toward an "informal economy" like in Latin America. More and more people are required to be "independent contractors" because employers don't want to provide expensive benefits. Some women are already there, pushing Avon or Shaklee or Noni Juice products on their friends, family and strangers, and trying to talk them into being vendors too, because pyramid schemes pay off mainly if you have other distributors under your direction. Maybe if there were universal health care, some people could get back on employers' rolls again, those employers who could at least afford to provide retirement benefits.
A self-employed person can end up chronically under-employed, constantly hustling for customers/clients. If s/he doesn't make enough money, s/he winds up paying Social Security tax without ever seeing any benefit from that. Yes, ladies and gents, Social Security does collect without paying out. Whether or not they pay out depends on how much you contribute every year, and if it's under a certain threshold, your contribution doesn't count toward benefits. Ah, the joys of self-employment! Be your own boss, throw away your safety net, wrestle with the IRS one-on-one every year, if not quarterly.
Welcome to globalization. Ain't it wunnerful, folks?
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