WSJ: Harder to start a business than ever…

In my third letter to Cassie, I addressed this issue presented by the Journal. I was telling her about the link between money and freedom, and discussing Hong Kong, I wrote:

Hong Kong is a Capitalist’s paradise, and a Special Administrative Region (SAR) of China, built on a swamp with almost no natural resources, and also happens to be the freest place – economically speaking – on Earth, a place where trade is not hindered be it coming or going, where the government stays out of the way, where it takes less than a week to start a business, where anyone with an idea can take a shot. One of these days, the two of us will go there for a few days, just so you can get a taste of what a Capitalist’s paradise looks like – canyons of skyscrapers built on a swamp, while the People’s Republic of California, so resource-rich it hurts to think about, slowly sinks under a mountain of State debt and public-sector pensions.

From the Journal:

Some entrepreneurs say it’s not all about financing, though. They express concern about taxes, health-care costs and the impact that wrangling in Washington over the federal budget deficit will have on them. “I can’t determine what the cost of providing health care for employees would be,” says Kevin Berman, 47, who is starting a local-produce company in Orion Township, Mich., called Harvest Michigan. Starting a company “is harder than it was at any time I can remember.”

San Diego has long been one of the nation’s entrepreneurial hotbeds, a culture that dates back to the 1960s with the founding of Linkabit Corp., a communications company whose alumni have launched scores of technology companies. A 1970s biotechnology start-up, Hybritech Inc., gave rise to a thriving biotechnology industry.

Lately, though, the pace of start-ups securing funding in San Diego has been slowed at the University of California at San Diego center that helps researchers move their work into the commercial sphere. “Investors are moving away from early-stage companies,” says Rosibel Ochoa, director of the William J. von Liebig Center. “Nobody wants to touch them.”

The State hates business – resents it like a scorned wife. Fred-6 hates business – he can’t even use the term ‘profit’ without making it sound like the dreaded “N-word.”

And people wonder why the economy won’t pick up?

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About godsowncrunk
I'm King B, the originator of the Jellywhite lyrical style and god's own crunk.

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