Business lesson 35

“Would I rather start a small business or become a minimum-wage apprentice to a mentor? Why?”

I would rather have a small business than to have a minimum wage.  The small business will get me more money if I invest in it, than if I were to work for someone.  Working for someone would not guarantee that I would have security.  If I own the business, I would have more security than someone who is employed and is required to put in less effort.

An apprentice could one day take over the company, or even become CEO.  They have an advantage that someone in a small company dose not have.  My dad is a small business owner.  He dose multiple different engineering tasks there.  He himself is a mechanical engineer, and he is going to get an, electric engineer to come into the business.

I don’t know anyone who is an apprentice to a big company so I don’t know what they do.

Well my answer to the question is I WOULD RATHER OWN A SMALL BUSINESS.

The minimum wage for Utah is $7.25 per hour, which is not going to get you anywhere in life.  Lets say you work for 10 hours per day, that would be $72.50 per day for 6 days a week.  That is $435 per week.  $1740 per month and $20,880 per year.  The average American makes $52,000 every year.  If you are a business owner you can make over $150,000 per year.  That is more than 7 times the amount that the lowest wage provides and nearly 3 times that the average American makes.

If you have a mentor he would teach you what he knows, but only if you pay him.  When you start your business you should not invest a lot of money into it.  You should wait just to see how it does, and when it is doing well then you invest your money.  But before then, no.

Jobs and companies in American has been declining for sometime now, and we need to form new businesses in order to help people in America.  We need to lower taxes.  We need to elect leaders that will do away with taxes and government debt, and  we need to work towards getting this country out of debt!

 

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