Monday, February 18, 2013

WHY the Spanish aren’t entrepreneurs.

What the article says is true, but I find a big barrier to starting out a company which is missing from it: how difficult and expensive —in terms of tax compliance and bureaucracy— to start a business. It takes time, a lot of paperwork, and too many sunk costs. The idea has to be EXTREMELY appealing to be worth the trouble, and as everyone know, that is not the most frequent kind of idea.