Governments have a tendency to reward jod creation but most people don’t understand it from a business minded stand point.
For 1 1 There’s more people paying into the taxsystem when a new business is introduced.
2 There’s less people relying on financial assistance
People get bent out of shape when governments give developers tax breaks.
If you was to learn about tax loopholes your out look would change.
Earned income is taxed at a higher rate than investment income .
When you bortow money you don’t pay taxes on the money you borrow .
Employees get taxed and other deductions taken out like Insurance Payroll tax Hospital levey , Income tax ,Pension .
After all your deductions have been made what percentage of your check do you have left ?
Your employer pays a portion of your payroll tax and you pay a portion of your payroll tax .
If your employer is business savvy he)shemaximizes using expenses charitable contributions depreciation and loss carry forwards to reduce their taxes .
Some people think that it’s just the rich people that take advantage of tax loop holes .
https://atomic-temporary-134540934.wpcomstaging.com/2022/10/27/the-most-effective-ways-to-tap-into-resources/
What you should do is start a business scale it up and hire employees .
Governments all across the globe embrace inward investment although there are some that are regimental and conservative with their approach .
I live in Bermuda and our main pillars of the economy are International business and tourism .
Bermuda can’t survive without international business for the simple fact that we don’t manufacture or produce anything
We are at the mercy of international business .
There are countries that are underdeveloped getting funding from foreign countries like China and America .
If you want to invest in a business or a country you will get incentives and private financing .
A sane minded person isn’t going to refuse an investment in themself their country or their business unless of course if it’s being done dishonestly .
https://atomic-temporary-134540934.wpcomstaging.com/2022/07/22/the-most-over-looked-benefits-of-having-a-plan-and-goals/
Get into the abundance mindset
The abundance mindset tells us that we can and will find away to get it done.
Poor mindset can’t think beyond their problems however to be successful you must look for solutions .
The world is in need of more problem solvers .
Leveraging is freedom
Self control , control of your time, money and freedom is of the utmost importance .
Warren Buffett controls only 1 business, the rest he is an investor i.e share holder .
Most of you get into business soley to get rich and want to control every aspect of it .
Micro managing defeats the purpose of attaining wealth .
The reason being is that all of your time is being consumed in t 1 area .
Say On the other hand you have staff and investors you have more time and freedom to do other things .
Growths come from leveraging time people and money .
Small business owners operate from a position of scarcity . If you don’t know how to leverage you can learn .
There are books, podcast, YouTube, Channels, Seminars that you can view to learn .
Most of us are good savers however saving money is not the way out of poverty . We must start taking advtage of tax loopholes and start investing money into capital appreciating assets
Don’t chase money
Money is a tool and it’s also something you attract .
You need to apply yourself in order to attract it . Theres a difference between chasing and attracting . 1 Person is adding value and solving and marketing their solutions attracts , the person is buying into get rich quick schemes and or scamming people is chasing .
Budget
You most definitely need financial discipline so if you aren’t eventually you’ll wipe your entire savings out.
The main thing is not to live beyond your means and also the allocating of monies for leisure and or recreation .
If it’s not a necessity why put yourself in debt ?
When it comes to your mental and physical health that’s a different thing however you should always put money aside for a rainy day just Incase of an emergency .
Invest your own money
If you keep trusting everyone else to invest and manage your money sooner or later you’ll run into problems
If some one else is investing and managing your money you aren’t keeping track of whats being spent . their money .
Conclusion
Chase your goals, learn skillsets and apply yourself . Not everyone wants to learn , not everyone wants to be an investor , some people are content with being employees .
If I lose money investing directly I could deal with that .If I entrusted some one else to invest my money and they lose my money I’ll be angry but I wouldn’t have no to blame but myself . How many atheletes and celebrities lost money ? They trusted accountants and money managers to manage their finances but those were the very same people mis managing their money .
.
.