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If you are receiving unemployment, I can't think of a better time to start your own business. Great companies will be born out of this era that were bootstrappe
by hop 17y ago
If you are receiving unemployment, I can't think of a better time to start your own business. Great companies will be born out of this era that were bootstrapped all the way. I think frugality and a focus on the bottom line is a renewed theme. Even if you fail miserably you'll be light years ahead of everyone else.
- owinebarger 17y agoYou would think so, but in fact the unemployment "insurance" agencies of some (many?) states are overtly hostile to using your time to build a startup rather than unsuccessfully seeking a position as an employee. In Connecticut, for example, the statutes say revenue from self-employment should offset unemployment benefits, but the state agency has chosen the highly creative interpretation of "revenue" to include potential capital gains your efforts represent, and the notional amount of salary you should be paying yourself for the work you do for your startup, including, say, writing a business plan. It does seem like they are shooting themselves in the foot, but the unemployment "insurance" fund in CT is already living on debt.
- asmithmd1 17y agoThat does not make any sense. Maybe there is a way to make the snake eat it's tail. After your payroll paycheck bounces call up the state employer regulators and see if they will make your paycheck whole. Then post the whole thing to the web as a performance artwork