I understand that in Somalia is different because almost half of the population is self employed, a lot of African immigrants gets government assistance to start up one & the entrepreneurship is deeply ingrained into our culture, especially my clan, Issaq.
A lot of Americans are financially illiterate, half of all businesses fail within the 1st 5 years, & want to start one for the wrong reasons . One of the main reasons why people want to be a business owner is to be their own boss, but you have to cater to your customers, shareholders & retailers. Also, you’re working 60-80 hours a week when you’re self employed and have to be very self motivated. Another big issue is that alot of cities/states, like mine have extremely high property taxes and business regulations (even though scammy SUPER UNETHICAL multilevel marketing/cryptocurrency companies run rampant here)
A lot of Americans are financially illiterate, half of all businesses fail within the 1st 5 years, & want to start one for the wrong reasons . One of the main reasons why people want to be a business owner is to be their own boss, but you have to cater to your customers, shareholders & retailers. Also, you’re working 60-80 hours a week when you’re self employed and have to be very self motivated. Another big issue is that alot of cities/states, like mine have extremely high property taxes and business regulations (even though scammy SUPER UNETHICAL multilevel marketing/cryptocurrency companies run rampant here)
