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If your barrier to entry is the cost to incorporate, how could you afford to create a job? Surely, in any state in the union the cost of even a minimum wage sal
by logicalmind 17y ago
If your barrier to entry is the cost to incorporate, how could you afford to create a job? Surely, in any state in the union the cost of even a minimum wage salary exceeds the cost to incorporate. That's not even considering the salary cost of skilled labor.
- jbellis 17y agoTypically you will only get (even angel) investment _after_ incorporation.
- fortes 17y agoHiring someone is far more complex than just having the funds to do so. Ignoring all the taxes, there is a lot of paperwork and agencies you have to deal with. I would hire someone right now if it were easier, but I can't afford to hire someone once I factor in the administrative and tax overhead.
- breck 17y agoSorry I should have been clearer. I was referring to the type of small businesses that start very slowly, as is the case when someone with a current job wants to start a business but doesn't have the money to do so full time. Most people I know who start non-tech businesses fall into this category. It may be a year or two before they are able to support themselves full time. For them, they could use that $1,000+ to pay part time workers to help them grow faster.