So is America losing its entrepreneurial mojo? There is some evidence that entrepreneurial activity is flagging. The latest data from the Kauffman Foundation found that there were 514,000 new business owners a month in 2012, down from 543,000 in 2011. The 2012 numbers marked the lowest in five years.
Rothschild said the time to invest is when the blood is flowing in the streets. Contrarians will tell you the time to move is when others are not. This negative indicators is positive towards actually starting.
In the U.S., only 21 percent of millionaires cited business sale or profit as their source of wealth. A much larger percentage cited saved earnings or personal investments as their sources of wealth.
Now this shows what people who WOULD be starting businesses are now doing. They are working the false economy to build up personal wealth. The years spent doing this are two-fold tragic:
1. All that "wealth" will be stolen one way or another. Easy come easy go.
2. The time spent making fake wealth is time not spent learning how to make real wealth.
If this was a financial weather maps, it shows global cooling for USA and Europe. Asia and South American do not have the imperialism of the USA/Euro axis, so they have to make money the old fashioned way. The map does not quite illustrate where freedom is strongest - Pacific Rim: East Asia and South America.
I am convinced that BigBiz/BigGovt is dreadfully antipathetic to entrepreneurs. many other have said it, but it is relentless. This article comparing entrepreneurs, for no particular reasons, ends with:
"Entrepreneurs need to embrace volatility and recognize that fortunes can be lost as quickly as they were made," the report said.How does that relate to anything in the article, or anything in reality. Entrepreneurs never take risks (maybe because Barclay's is a bank and banks invented the idea to scam entrepreneurs.) I can see people with present high net worth reading that and thinking "I'll stay with my investments in Barclay's, where the are safe." Given the tottering economic structure we have such people will most likely end their years eating Alpo and tearing out pages from back issues of Architectural Digest to make toilet paper. Time to start a business. Diversify. Take 10% of those savings. Does not matter how much that is, it is enough. And start up your business.
Feel free to forward this by email to three of your friends.
3 comments:
Europe is double that of the U.S. (41% vs. 21%)! Shocking. It seems that I keep hearing from the the US media that the so-called lazy and socialist Europeans are going down the drain economically (35 hour work week and 9 week vacations in France?!). Maybe Americans can learn some things from these foreigners.
http://blogs.wsj.com/atwork/2013/07/10/firms-back-away-from-the-self-employed/?mod=WSJ_article_outbrain&obref=obinsite
Not only are big biz/big gov antipathetic to entrepreneurs, apparently even big companies will not even seek to hire self-employed people.
My impression is that society views entrepreneurship as being much too risky and highly undesirable.
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