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- 8 June 2008
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I know, I left wage to contracting to own one man companyYes odds may be stacked against retail shareholders but they are even more stacked against small business owners (government regulation favours larger companies). The guy who invests his life's savings in buying or opening a local fish and chips shop is far more likely to lose his life savings then the guy who invests his life savings in BHP or Telstra shares.
Personally I think the happy middle ground between wage slave and small business owner is being a self employed/freelance professional/tradesman with a practical skill. You aren't really investing capital into your business but at the same time you have a lot more freedom than a wage slave. For example if you do an apprenticeship as a barber and then work for somebody for a few years after that you can either rent a chair at a salon or visit clients at their homes and therefore you don't have the risk associated with paying a long-term lease and paying for an expensive shop fit out etc. Or for example if you do freelancing work as a graphic designer.
When I tried expanding, my very first customer with a subcontractor I placed to do the job took 7 months to pay his invoice, I obviously paid my contractor on the spot..and decided not to want to grow further..and when the red tape with super GST etc got too much to either do myself or pay an accountant to do based on the fees I was charging, I headed and worked overseas in our startup
It is not easy indeed, but while I agree on what you say, I guess it means that Australia has just closed the entrepreneurial path with decent odds for the latest generation.