Do you dream of owning your own business? Or perhaps you would like to have more businesses to choose between when looking for a job? Are you part of the Maker Movement, yearning to make or buy creative consumer products? Or maybe you just think Wal Mart and other mega corporations are too powerful and would like to buy local?
We need a three-pronged approach to making small business the norm:
- Reduced overhead. The greater the overhead, the more powerful the economies of scale. All too often, legislation with liberal intent ends up favoring Big Business and wage serfdom. Here, we outline how to reduce overhead while still providing decent labor and environmental protections.
- Access to capital. Startup capital is expensive. Today, big corporations offset their bureaucratic inefficienies with access to cheaper capital. We can reduce this unfair advantage.
- Reduced transaction costs. If contract enforcement between businesses is expensive, it pays to vertically integrate. Lawsuit reduction and/or simplification is one of the keys to reducing economies of scale.
Over the course of time, you will find a wide array of strategies to take care of the first two prongs. Not being a lawyer or legal scholar, I have much less to say on the third. (Maybe readers with more expertise will bring their knowledge to this site via comments or even guest posts in the future, but for now I simply include the prong for completeness and to remind liberal lawyers in the audience that streamlining the legal process is a liberal cause.)