It is often said that patience is a virtue, and yet for the entrepreneur it certainly is not. If they see an opportunity, they have to take it. In most of the world, this is how they do it, but what if you live in a highly restrictive country, one that has so many barriers to entry or red tape to overcome that it takes a year or more to start a business to take advantage of a new opportunity? ?
In India, it takes 425-550 days to get all the permits to start a business there. So much for economic development in India, and this is causing a big problem for job growth, free enterprise expansion, as the barriers to entry turn out to be too much. How about China instead? Try 250 days.
And if you need power to run your business, then you’re better off getting your own in most places, as the service is completely patchy, inconsistent, and for the most part, in most parts of the country, completely unreliable. . Why does this matter?
Well, as a franchisor, it always seemed strange to me that so many nations would want me to offer jobs and teach their entrepreneurs how to run a business, and yet with all the regulations and delays, it hardly made sense for me to participate in such efforts, so we passed. But it’s something I’d like our business people to think about and consider how lucky they are here in the US.
It’s no wonder there are so many clandestine businesses in these countries, it sure is amazing how the rest of the world operates sometimes. Please consider all this.
Referee. “A Bull in China,” by Jim Rogers, Random House, New York, NY; 2006 (Chapter II).
