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The Reason Small Businesses Are Disappearing, As Explained By A Small Business Owner
Confused why despite endless daily propaganda that the US economy is getting better - after all "just look at the record high S&P 500" - fewer and fewer Americans believe the narrative, as the Democrats and Obama found out the very hard way in last week's midterm elections? Then the following explanation written by the owner of a small business - the segment of the US economy that has historically led every single recovery but this time was left behind - should help answer some questions.
The reason small businesses are disappearing written by a small business owner.
I want to start out by saying that i am a 27 year old male with a small business in Sacramento CA. I started this business a few years ago with savings of 15k. With a lot of hard work and determination i have succeeded, but it sure as hell was not easy. I am a long time lurker and have never seen anyone go in depth about what its like to own a small business and the reason why they are disappearing. Without going into to much detail, i own a furniture store so obviously things are different then other businesses but a lot of the things are the same. I wanted to begin with the things that are killing small businesses. Also only my opinion.
- Small Business Loans - Although they are not killing small business they sure as hell don't help anyone. Unless you are opening a unique small business you are not going to get any funding. By unique i mean something along the lines of creating solar panels. According to a recent investigation by the SBA Inspector General (ill post the article if you would like), over 75% of SBA loans went to large businesses. So basically if you want to open a normal business you need a ton of collateral and a miracle to get a loan.
- Permits and Licensing - In opening my specific business the first year totaled about $2000.00.
- Advertising - Many small business's cant afford to take out pages or flyers in the news paper or TV ads so they only have a few choices such as Yelp or the Penny-saver. (Don't get me started in Yelp).
- Street Advertising - While this used to be a good portion of how you get business it is now off limits. Code enforcement will not allow you to put anything outside. No balloons, signs, anything with your store name, window paint more than 50%, or any mattresses. Also delivery vehicles can not be closer than 50 feet from the curb. In my case that means behind the building.
- Board of Equalization - Cant go into to much detail here but they sure as hell aren't here to help.
- Health Insurance - Now obviously with the people that have a large work force working full time they will be hit hard by obamacare, but i wanted to give you a perspective on a single person. The cheapest rate for myself and me only, and believe me i have looked around, is $250.00/month. Some might say oh that's not bad, but let me explain what that covers, NOTHING lol. Basically if something happens to me i have to shell out 6K before insurance gets involved. Also 100 dollar co pay every time i go.
- The economy - While many know that when the President comes on TV and says the economy is doing great, we all know it is not, some people don't. Every month more people drop out of the Labor Force and the number of families on food stamps is sky rocketing. So for those of you who don't know the economy is terrible because of all the top stories of Kim Kardashian and whoever else, lots of people in america are struggling.
- Merchant Fees - This is for credit card processing machines. The machine itself costs 600.00 plus the percentages on sales and cards. Companies such as BofA charge once a year on top of the regular fees $150.00 to protect you from fraud (which they can't even stop) and yes its mandatory. Paypal or Square seem to be the best options these days.
- Fire Department - Yes even the Fire Department wants a piece. Starting last year you must do your own visual inspection and send them a check for 150! Basically if you don't they will come to your store and give you a million violations for wasting there time.
Something to watch out for is people who check fire extinguishers in business's. This is a huge scam where they come in without permission to inspect your extinguisher, get you a new one and bill you like 200 the following month. They have no right or permission to enter your business and jump all over you. You can simply tell them politely to get out. They dress like they are fire fighters but they are not.
* * *
The thread with the author's Q&A continues on Reddit.
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the hottest business i have seen in charlotte nc area is the e-cig vapor shop, that sells all sorts of brands and flavors. i used it to stop smoking after 38 years of a pack a day reds in about 4 weeks.
everytime i go into the shop it is busy, and you are actually doing something useful for humanity.
i have a small business and i have been treading water for nearly 6 years, every year gets a little harder.
These e-cig shops are precursor businesses that have a business model that is easy to shift to legal pot sales in states considering such laws.
I've seen it happen in a few of the states that have passed it, like WA and CO.
The changeover is seamless.
They will typically already be located in hipster areas. Sort of have a headshop vib, anyway. It makes me wonder if these businesses are part of a bigger parent company. They all look the same. Kinda like how Happy Dragon Chinese restaurant in Ft. Lauderdale will be completely the same as Great Wall Chinese restaurant in Louisville Ky. Same fucking menu.
DIDNT YOU READ?!?!?!
SELL FIRE EXTINGUISHERS WHILE DRESSED AS A FIREMAN!
200 DOLLARS FOR A 20 DOLLAR UNIT!
NICE MARGINS!!!
nope-1004
The article is about general obstacles to small businesses,
which are NOT at all refuted by your over-generalized (hence false for any attempt to invalidate the article's message) assumptions about the feasibility of furniture business.
The author did NOT state he was opening a furniture store in Detroit!
In some areas of the US (SouthWest in particular) housing construction continues, and populations are expanding. Regardless of long-term predictions, the current environment to make profits in some areas still exists (including even for furniture stores).
nope-1004
Who gives a shit what the guy is selling! The point of the article was not the widgets, it was how the government stifles the selling of them at every opportunity!
That's what they said about Einstein. And look where it got him!
To be fair, starting a business at the bottom of a cycle is typically a good time. Everything is cheap and initial volumes are low enough to get a learning curve. The problem is that this cycle has not really created an upturn of any broad sense. Sure some have done well but many others have never seen their sales recover. Having started my business in 86, building custom furniture, I started in a low point, and have seen plenty of them over the years, but this one has been murder. I still am at 50% of my 08 sales, with glimmers and green shoots from time to time, but nothing sustainable. Small business has always had a tough time but there can be no doubt that everything is stacked against it now. Starting a business is a gamble of your savings, but with debt included, a gamble on your future earnings as well. How many here feel strong enough to bet their futures on a small business? I would guess few would give up their illusionary secure corporate posts to do so. Its easier to just call the rest of us dumb asses unless we actually succeed and then we are just corrupt thieves. Buy stock for three dollars and sell it for six and you are a genius but if you make 5% profit on your business sales you are a opportunist speculator fresh out of Venezuela. Listening to NPR telling of how their enlightened president is forcing businesses to sell $30 barbie dolls for $2.50, calling retailers speculators.
Don't mean to be a dick and I do wish this young feller well, but how can you open a furniture store with $15,000? I smell a rich family "investor" here. But hey, good luck to you and I totally agree with the crux of the article.
"how can you open a furniture store with $15,000?"
You take over an existing business from someone who's retiring. Assume the lease, then pay out a percentage of earnings till you've paid off the old inventory. In the world of small business, everything is negotiable.
If you are a young White Guy ..you are out of luck also....only minorities are allowed to game this money trough....
Gonna be dental floss tycoon...
https://www.youtube.com/watch?v=220xlHky1SY
That even got a Vulcan in stiches. +100
"i believe its the wooden springboard used by white guys in the nba."
Comment of the day, and it's early. Thanks for that.
First problem is that he should be outsourcing a lot of stuff to sites like elance.com odesk.com.
Also you should get the hell out of California. Nothing good can come from that.
Except the weather, and the parks. And let's face it, no amount of money will change the weather.
How much does HARP cost and just how is the weather there nowadays?
Larry - I know this woman that started a biz shopping at factory retail outlets for womans clothing and selling it on e-bay. She makes $200k a year. Thats an option for some here. You could sell antiques to rich folks with a site template that is cheap or free and a $2000 of Google marketing to kick you off.
It's a barbell economy. Sell lots of volume to poor folks or niche products to the rich. I find the latter more profitable and less marketing costs but you have to get on the phone too to provide an extra layer of service. To increase salemanship, buy this book: How to Master the Art of Selling by Tom Hopkins. The tactics work great for personal relationships as a plus and the writer is funny.
A lot of older folks with dough still prefer the telephone in conjuction with selling services on the web, a competitive advantage in itself to understand.
There's a Latino named "Buff Mendez", who got DQ'd from the Olympics for juicing. He's 5'10". He can squat a world record, although dirty - they're all riding dirty. But, he can do a running one-legged upward jump and reach abovve the backboard by a few inches. I've seen a video of it. He's so fu##ing strong and fast that he just explodes upward. Of course, the exception doesn't disprove the white-man springboard rule.
It promotes equal rights for Wookies.
Makes sure you sell mattresses to every lesbian troll trying to trip up your business.
It's a peice of wood that you use to wack people with
I have a small biz also. Coffee shop. Fucking bloodsuckers at city hall can kiss my ass. Fucking liberal progressive pukes. And fuck you bernanke
What are you doing opening a coffee shop if you don't want to serve to liberal progressive pukes? Arent' those your main clients?
His coffee shop doesn't cater to the "fair trade" seeking customer. All his coffee comes from his uncle's plantation and where he lives, his customers are supporting this.
No pink cupcakes or Jew bagels at this shop either. Bearclaws and fresh kill roastbeef sandwiches with lots of white hot horseradish.
Maybe he serves them Tyler Durden style dishes..?
Project mayhem!
~"Maybe he serves them Tyler Durden style dishes..?"~
It's just..., well..., let's just say today is not a good day for the Clam Chowder.
What's worse than sucking a dozen raw oysters out of your grandmother's pussy?
Sucking out thirteen of them and realizing you only put in a dozen.
wrong...bad.....really bad. Drinking already?
Another drug dealer, sigh.
They go around and make sure every business is paying all the taxes, fees, dues and has all the required permits and licenses that are required to do business in the state/city/county.
So all businesses are taxed equally and all business have an equal regulatory burden.
Really I am not making this up.
Thanks be to the creator who blessed us with our uniqueness in the Land of the Free. (Well we could living in Zimbabwe or Myanmar).
Highlights of the 2014 Edition Include:
- Small businesses pay more in per-employee regulatory costs. Firms with fewer than 20 employees pay an average of $10,585 per employee, compared to $7,755 for those with 500 or more employees.
https://cei.org/10KCI'm thinking of baking cupcakes and selling them from the trunk of my car at the local high school.
That will bring the SWAT team down on you for sure.
You got a license to serve sugary, unhealty foods to children?
You don't need a license to commit terrorism. And, it's good for the economy with the necessary increase in popo spending.
Popo spending...+1
I am aware that it would not be looked on with favor.
The only honest reason is that you would be cutting into their mafia monopoly fraud profit scam, but they would say 'it's for the children'.
The truth is even funnier
The Board of Equalization is Californias Owelian Newspeak socialist name for Tax Enforcement
What is a board of equalization?
Legislated market share...pretty standard stuff.
Yeah I played with a classic, but it is the only way to stop the monster, not that I advocate it or any violence. I advocate the political process cuz the pugs will save us..
How can I say less, so very well done!
+10,000, earned, not printed...
Loved the disclaimer about violence to a group of thugs that only speaks the language of violence.
So much subtle humor!
Well done!
If you suggest you advocate violence, we will come visit violence on you!
We DO violence! You RECEIVE violence! Got it?
The only logical conclusion is that small business is the enemy of big government.
Or vice versa. But I state the obvious. Or am I oblivious? Me thinks the latter. :)
It works both ways, only a difference of which side of the table you sit on. Ya know, right or wrong, good and evil, as far as the east is from the west, heaven or hell, just basic stuff.
The mission of the State Board of Equalization (BOE) is to serve the public through fair, effective, and efficient tax administration.
They collect sales tax in CA. If you miss a payment they "guesstimate" what your total sales for that month are, base on "larger" competitors. Since California is deep in debt, just look at them as the the Gestapo.
Nothing has changed, except for the huge increases in hellcare. Killing the entire economy.
I checked SBA 25 years ago. It was a joke.
Home equity and reduced interest rates spurred more small business over the 90's.
Today if you have no interent presence you are dead.
90% of small biz fail, the ratio has been this for over 50 years, so quit bitching. No risk, no reward, or go work for the man, if they have any interest in you.
Probably the most important reply I have read on here thus far.
It depends on what you do. Retail, yes.
Probably the most important reply I have read on here thus far.
The BOE or state board of equalization is the government entity in California responsible for administering sales and use tax rules, regulations, collections, etc. Trust me when I say they are an absolute nightmare to work with as when in doubt, the rule is simple. Collect more sales and use tax from the business. Forget the IRS as the last group you want to battle with is the BOE. Funny they use the term equalization as there is nothing equal or fair about this group.
They basically are the collectors of sales and use tax revenue in the State of California. The BOE is not meant to be a business development agency.
Doooooooom......
http://www.infowars.com/video-apache-helicopter-harasses-gun-owners/
I am pretty sure it was just some pilots saying hello.
Maybe they were hoping somebody would take a pop at them..
things are getting that crazy
". . . over 75% of SBA loans went to large businesses."
Of course that is the course, because the US Congress, back around 2007, passed a bill giving SBA loan preference to businesses which had been invested in by private equity firms and/or hedge funds, which explains the obvious pattern.
The other items were all legislated due to financial and lobbying support of the major corporations to screw up small businesses, etc.
And those effing phony TED talks, supported by Wall Street (Goldman Sachs, JPMorgan Chase, et al.) promote the adoption of tort reform (meaning that you can't sue the corporations) under the guise of "free enterprise for cupcake-selling young girls" bullcrap!
And the major force behind the adoption of tort reform is the US Chamber of Commerce' legal arm, the National Chamber Litigation Center, and the present FBI director, James Comey, recently sat on their board of directors.
It's all connected, it is all planned . . .
News site of the day:
(Amber Lyon, fired by CNN for reporting the news.)
http://amberlyonlive.com/
(as explained below )
https://www.youtube.com/watch?v=CFDC7zmJgQg#t=1m35s
state level dept to insure that what you pay in taxes is Equal to what they think is "your fair share"
Board of Equalization ?
Total commie crap.
What are you saying....that you don't think we should all be equal???
They are coming to equalize us all...or is that neutralize....I keep getting those two confused.
Zerohedge is getting desperate now trotting stuff like this out thinking the market will crash. Laughable.
nail meet head
"You didn't build that" - Leader
USSA!
USSA!
USSA!
Problem One:
You decided to start a business in California.
Oops.
No, that's Problem Two. Problem One is:
You're in California.
NOOO!!!!
And if you're thinking of ditching the state of California for Illinois: Strike 3, you're out.
Florida isn't much better.
NYPoke - Compared to New Hampshire, Florida is heaven to operate in. Females from Mass took over the legislature mid-nineties. If you had a penis in NH you got taxed.
Few know this but NH went bankrupt in 2011. Total police state. They sent me a bill for $7k for people on unemployment in 2007 breaking the social contract. When I called them demanding a hearing with my attorney they wire tapped the money out of my account the very next morning. Fuck them. The state is lovely and I will return in a decade once they regained there senses.
Here in Florida also like NH is cops tax collecting on driving offences. I just do the speed limit and avoid the bars at night.
This list is far from complete. But hits many of the larger costs.
furniture store? blah... the most possible illiquid investment
small business ought to venture into the latest craze....
corruption in politics....
got to go with the trend
small business ought to venture into the black market and operate with cash and no location with a good trade skill as the base--
Nigganomics! You did not build that, we did! Here is some fried chicken for your troubles.
ROFL
+10000
Well we know when the people "elect" Hillary she'll behave differently because she's not brown. You see, Hillary loves and values the private sector and embraces small government. She'll use her power to help create an environment that small businesses can prosper in, LOL. White Stupidity, bitchez.
TalkToLind
Guarantee you Hillary will not receive 90% of the white vote because she is white as blacks did with Obola. However, since blacks never turn down a government program I'm sure there will be black voting districts with over 100% percent votes in her favor.
The Dim precincts will need 110% of the registered votes in 2016. That is their target.
Forget about counting voter turnout. Demographics don't matter either. With Diebold touch screen voting machines, the "right" candidate always wins.
Also a small business owner, I understand this deterioration is by design. It is artful to succeed within an empire that is crumbling.
I switched to square.... Saved my about 50% in fees, etc. A very good deal!
All I can say is an excellent post; thank you.
Yeah, I remember reading something about 75% of SBA loans going to large businesses or corporate subsidiaries.
What kind of retards would run the SBA in that fashion? (Ooops, wasn't thinking clearly there for a minute. Sorry)
Yeah, a better question would be, what kind of retards are the American elecorate, to think government is qualified in any way to make any kind of loan?
Student loans? The cost of education skyrockets. Home loans? The housing market bubbles and busts. SBA? Grease your future boss's palm. What else?
Life in the socialist paradise...
Small business, John McCain style! Under 10,000 employees and you are just a guy plugging along who needs a leg up.
George W, got a sba loan for 2 mil, dug dry holes and paid his salary of 160,000 a year back in the 80's.
That's what the sba is for.
He made a litttle bit of cash on a not so crappy dig, and used the 675K instead of paying investors, or his loans back, bought a small share of a baseball team, then sold it for 7 million, all set up of course to look somewhat successful. Then made it into the white house then to turn it over to a black man to fuck it up some more.
At least the elite bush family wanted to progress the retard of the family.
Don't forget the Saudi money he went through, too.
We can't allow free enterprise here in the US because the goyim might figure out that they don't need the nanny-stater globalist Jewish rats who are brainwashing them and micromanaging every aspect of their lives
You left out the ADA compliant bathroom remodels.
and county inventory taxes - multi county operations, multi tax!
and monthly fire station monitoring fee
and City water and sewer
Dont forget the well water monitoring fee . . . just in case it becomes too polluted to use to flush your turds.
The ADA is now being used to police "accessibility" to web sites.
DOJ Consent Decree Provides Guidance on Web Accessibility Compliance Under ADA
"On March 6, 2014, the Department of Justice (“DOJ”) issued a press release announcing a proposed consent decree against H&R Block to resolve claims that the H&R Block website, mobile applications, and online tax preparation products were not appropriately accessible to the disabled."
The consent decree imposes notable administrative requirements in addition to the technical provisions of WCAG 2.0. Examples of these requirements include the following.
http://www.infolawgroup.com/2014/03/articles/lawsuit/doj-consent-decree-...
Dude forgot 1 of THE biggest hurdles for small biz today.... Insane rent costs! (Directly related to Fed tinkering)
Yes...had the market been allowed to reprice all of that commercial RE, rents would be 1/2 to 1/3 of what they are now, people would be able to afford to rent them, hire people, and start a business. But someone prionted up a shitload of fiat and "supported" "prices".
You forgot to mention that your credit is considered less worthy than an employee
Speaking of credit...We wanted to add another 7,000 square feet to our paid-off 13,000 square foot class-A office space. In order to secure the loan the Board would have to put up their own assests as collateral for the loan and the bank would not use the paid off space we occupied. Fucking leaches.
Two options. Sell the space and rent it back, or SAVE THE MONEY FOR THE EXPANSION. Fuck the banks.
Then, when things go south, they pick up everything you own for pennies on the dollar. Hmmm..... how do I join that club?
You're born into the Chosen Tribe or you're not. If not, join the Freemasons.
Anyone needing a loan for their small business only has to go to a Payday Loans store. The interest rate is only about 550% annually.
You didn't built that
It's been going on for years and years. More regs and fees and licences act as barriers of entry. Only the rich get to do business. Everyone else must remain a serf or work their asses and lives away to get in. Fuck that.
Yes, indeed. Sometimes I think the government just wants two or three companies in the whole US left. You have to take whatever pay they offer, or starve. Those three companies will be what's left of the private productive sector, basically nationalized. Their only purpose: to fund the government. They might try to get away calling it streamlined capitalism, but if people don't get it by then, they might as well just jump off a very high bridge.
Almost two decades ago, I had a client who was seeking to develop a parcel into some 500 lots. He casually mentioned to me one day that he had spent over a quarter of a million dollars the year before on the engineering (mostly about complying with various government mandates), permits, and fees (and which said costs were still going strong). I was shocked and said something like, 'Oh, that's terrible!" He looked at me like I was an idiot, and said, "Are you kidding me? It's great! If it weren't for these costs, anyone could do this."
Not everyone would do it though. Not everyone has a parcel of land to be subdivided. Then the cost of subdividing the land gets passed to the poor shmuck who ends up deep in mortgage debt buying the stamp sized "land" and the sawdust and gypsum filled box for the family.
The developer, munis and banks win big.
The "home" "owners" sheeple are bagholders in so many ways.
Entire concept is complete garbage. Next after subdivisions come condo developments. Garbage, garbage and more garbage.
Hey, but at least its garbage that can be leveraged. Did I mention the banks are happy?
Sitting target
How does he make hard money selling furniture?
Well, he loses money on every piece, but he makes it up in no volume.
Pot in the cushions.
Your competion has no such burdens:
http://www.youtube.com/watch?v=Vth6k9otgR0&list=UUp_i632yhFIF3vp0Lt7dl1A
Sure, the electronics are cheap. But you have to eat.
Thanks for the post! You are not alone! As a small business owner myself, I have seen first hand how government is knocking random rungs off the ladder until there is just no way up. I've done my own construction of my forms. I am manager, logistics, planner, etc.. I've done my own research in the US patent office, making friends with some of the searchers in the process. I've done my own R&D and put out my own products. Like yours, my path has been about 15 years in the making. I left the corporate back-stabbing short-cutting world and I still don't regret it. But how in hell can a person in their twenties duplicate what I've done to get to where I am, and maintain 100% ownership? I've got my own list of what has changed creating extra cost over time from the government I have to do, and to put that on the front end of a start-up would be devastating. They are excellent at killing small business and any incentive to start one. Let's call it reverse carrots on a stick. I'm sure you and I could trade some good tricks to get around a lot of things on your list, but options are running thin. Good luck to you!
another of my beefs on "reported" retail sales.
mom & pops do not report (only mid to large chain need apply) ... since the recession many mom & pops taken out on a stretcher ... BUT their "surviving" customers go on to shop ... at chain stores who do report.
so, if enough mom & pops go out of business, it will boost "reported" retail sales (though, in actuality no increase at all)
Hadn't thought about it that way, but I think you're probably right.
i know i'm right
census bureau also reports state govt revenues (with about a 2 or 3 quarter lag) ... need to normalize sales tax rates (vertex keeps track of changes) ... for the first 3 years coming out of the recession the state tax revenue growth about half of "reported" retail sales growth ... the number has since gotten a lot closer (probably most of the small biz failed that were going to fail)
but not a soul cares since hoo cares now about retail sales back in Q1? ... everyone wants that hot new preliminary number (no matter how massaged)
My contrarian mind, likes the way you think.
PS I am ashamed to say, I never thought of THIS !!!
FWIW: Running a Retail business is always a Pain. If you want to start a business sell goods and services to other businesses. B2B (Business to Business) requires less overhead, you don't have to provide a store front or rent out expensive retail space. You will likely have few consumers to support and high margins on services. Consumers are a real hassle and pain. All you need to do run a successful B2B is to offer quality products and services at a reasonable price that is demand by businesses. With the Obamacare business do not want to hire, they want to outsource. Use that to your advantage.
wouldn't it be easier to just work in the democratic party and take money for nothing?
"You didn't build that!"
Hope, Hope and Change!!!
"You didn't build that!"
Hope, Hope and Change!!!
Start a home office, if possible:
Register as "Single-member LLC" with the IRS.
Put vehicle name in name of LLC.
Ditto for PC and office supplies, furniture, Internet connection, phone.
Your spouse is an Employee.
Your kids are your Landscaper.
p.s. If you have a smart CPA with balls, your dog is now your "Alarm system".
Get your shirts monogrammed and write them off as a "uniform". Uniforms can be written off, regular "clothing" like shirts and pants can not.
Yes, the IRS would love that too.
You are their job security.
CPA's don't have balls anymore.
How do you get a public servant into small business?
Put him in a big business and he'll take it from there.
that's gold right there
yeah yeah , and cockarockes are livestock
http://www.starvingthemonkeys.com/downloads/StarvingTheMonkeysChapter2.pdf
While your sentiment is good, depending on the circumstances, a self-employed person may benefit dramatically more from being taxed as an s-corp...
simple overview: https://turbotax.intuit.com/tax-tools/tax-tips/Small-Business-Taxes/How-...
a bit more detailed: http://www.forbes.com/sites/peterjreilly/2013/08/25/s-corporation-se-avo...
This.
People may laugh at this but why not? Why don't real people register as LLCs? Corporate "people" only pay taxes on profits while they whine at real people getting hit on gross revenues. Two can play at that game. Write off your house and vehicles and food and everything. Let those greasy cretins figure out how to pay for more overseas adventures, bankster bailouts, handouts for Israel, etc.
Done and done, over 7 years ago.
I've had several cohorts ask me how I have done what I've done and I've shared my (meager) methods of "success" with them. Some couldn't be bothered to do even Step 1, but found comfort going back to the large mega-corp. I don't put them down, as I understand not everyone has the exact same "get-up-and-go" and sense of urgency that I have. I still do work for many of their employers and every time I come in, they're (to the person) always exclaiming "man, I wish I had the balls you have."
I explain that they could, in fact, do exactly what I do (they're all brilliant people), but I suppose it's very difficult for most people to step outside of their sphere of comfort.
But if you are from another country you can get a small business of your own handed to you so that you can run it into the ground.
As an example, Exxon built a new gas station/convenience store in my suburban Atlanta neighborhood about 3 years ago. For the first 2 years it was corporately owned and operated. Then under their minority opportunity franchising, it was sold. Over night it changed to something that would be an embarrassment in the worst slums of New Delhi. There are now saris' for sale front and center, all sorts of weird trinkets for sale stuck all over the checkout counters, the front window has a 10x10 handmade EBT sign, inside there is a a big scrolling sign with red lights that says "EBT HEER" (sic), and the place is absolutely filthy. The gasoline is bad and put my car in the shop for 2 weeks. I had to stop there yesterday for a c-store purchase as the traffic was too bad to get to other nearby places, and there was a wide trail of some type of white powder from the front door, all over the sidewalk, and leading to the dumpster that was probably rat or roach poison.
I am sure that we the tax payers who were born here are somehow paying for this mess. And we are not supposed to mind that we would never qualify to own the place and run it properly.
The ebt heer sign needing of updation.
Pakistani comes here. US Fed Gov gives them 75k to buy a business AND (if you can believe this) they also don't have to pay taxes for five years. After five years, they sell it to their cousin who just moved here from Pakistan.
Why do you think all the convenience stores are all of a sudden exclusively owned and staffed by people who are not Americans?
Nice, cuz they bee brown'n'shit. Meanwhile, I get to pay 15% to Social Security, plus all the other taxes Uncle Sam can think up.
History changed by Elites, TPTB, want to recreate destruction of past civilizations so they can own the real estate & become Lords, Nobles, Aristocracy, and Kings.
History may be cloudy since Winners get to destroy all evidence of the past.
- Iraq
- Babylon
- Egypt
- Greece
- Berbers
- Canaanites
- Phoneticians
- Etruscans
- Mexico, Chile, Peru, Bolivia, Ecuador
- Modern Africa in Resource Rich areas
Nice to see a column written sarc free and in plain English.
This would never make it as a column in a big liberal paper.
The following also does not happen in the MSM: Valerie Learns About Modern Slavery
Well, that was a short list...there should be a link for the additional points after the "I want to start with"...
"Unless you are opening a unique small business you are not going to get any funding. By unique i mean something along the lines of creating solar panels."...
In which the oil corporations will either buy your patent off of you or steal it outright if you procrastinate with your ideas for too long which ultimately will force you to sell at a loss and then proceed to put them on a shelf to collect dust with all the other energy technology patent(s) over the past 40 years that could have created millions of jobs and spawned new innovations in that sector...
Fixed it!
Another confirmation that the real estate market is dead for first time home buyers.
You should have told the SBA you're gay or transgender.
They may have given you some excellent terms.
Especially in Cali.
Finally a real perspective on what it's like to own the typical small business. The system is designed to protect and enrich large businesses. All this patronizing of small businesses by the politicians is no different than their suppoed concern for the (becoming former) middle class.
You can either be an extra-small business and exist at the margins (like me), or you can be a crony that uses entry barriers to bar competition and grow into a behemoth. The middle ground is disappearing, if it hasn't already.
I disagree with the point about financing being unattainable for a small business. I have one employee and apparently there are people out there just dying to give me a quarter million in financing with no credit check. They call me every 5 minutes with their FREE FREE $$ JUST PRESS 1 TO SPEAK WITH A REPRESENTATIVE!!!11!!
I'd take it and move to Coats Rica under another name.
Buy gold and wait with Jim Willie.
Can live very well down there on $1,000 per month.
Funny, and I've [unseriously] considered it. I'm of the opinion that Costa Rica et al will not be safe bets for my lily-white family. I think foreigners will become food during the collapse when we revert to tribal groupings.
My two cents, adjusted for inflation of course.
This guy should have just bought real estate and the S&P 500, or better yet just been born into a really rich family.
I cannot even write, in depth, about this subject as it turns me into a raving lunatic. I had small business' my entire life. I did well. Today's kids could never duplicate what I did.
The fire extinguisher ordeal brings to light the stupidity of .gov. Inspectors came to my offices every year and made me buy new ones. i would go to walmart, buy two new extinguishers per office. The extinguishers came with a manufactures' 10 Year warranty.
Need I say more? God Damn Cocksukers. I will party for a month the day someone nukes D.C.
On the flip side. I have done what most older, wiser business owners are doing. Sold the business and went off the grid. Oh, I still work, but I don't even have a bank account. As the old timers used to say, "it's cash on the barrel-head". Yep, I am unemployed and out of the workforce. I am 56.