This week I was reminded again how easy it is to start your own business here in the United States. For a sole proprietorship, the most basic form of owning a business, hardly anything is needed aside from your name, and a few permits from your local government. Keeping business finances separate will make tax time easier, but is not really needed if one keeps good track of your finances.
Things were so much more difficult back in Germany, with permits, approvals, licenses, etc. Often the cost alone to start a business would keep talented individuals from even trying. Add on the high business taxes and regulations on what an individual can and cannot do legally, and there is hardly anybody left even wanting to start a business.
While there is something to be said for doing everything possible to protect consumers, I think it is much better to err on the side of letting individuals create their own economy and see what happens!
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