Economic Idea 12: Business support benefits - Convert unemployed and people on welfare into business people starting a business - Create 20 million more jobs in 5 years time - Create $400 billion per year in new government revenues in 5 years time
The idea is very simple.
What if we convert the long-term unemployed and people on welfare (about 80 million Americans) into business people starting their own business.
We already pay them unemployment benefits or welfare benefits, if we convert 20 million Americans to start a new business, and we pay them the first 2 years business support benefits each month, then instead of them staying unemployed, they start their own business.
This also results that people should not be fearful anymore to start a business potentially risking to lose their unemployment benefits or welfare benefits.
Many Americans who are unemployed or on welfare are scared to lose these unemployment benefits so they don't want to risk to start a business.
Also, Americans who already have a job and they want to start their own business, we support them with business support benefits for the first 2 years.
Also, the unemployment job statistics change, about 20 million Americans will start their own business and request business support benefits for the first 2 years, so the unemployment and welfare statistics change instantly, they become business people.
Also, these business support benefits will support the starting business owners to be successful, they can make ends meet and focus on running their business.
What are the results?
1. 20 million less people unemployed or people on welfare, resulting in an immediate change in job statistics
2. The business support benefits each month equal the cost of being unemployed or the cost of being on welfare, so for the first 2 years, the government doesn't lose any money
3. The government will make money on corporate taxes, employment taxes and new job creation by the business owners
4. If 20 million more people start their own business, then this may result in 5 years time in 40 million more jobs, we create at least 2 jobs from each started business within 5 years time, resulting in an additional 20 million jobs created and $400 billion per year of more government revenues in 5 years time
5. Starting businesses have more chances of making it, with the business support benefits, business owners who start their business can support themselves for the first 2 years
6. Business people who start their own business need much less startup money to incorporate. Like for example, to start a business store, a bar or a restaurant. Or they start an online millionaire-business with one of the many business ideas outlined on this website to become millionaire in only 2-3 years time!
7. Startup businesses can request loans from the bank after 2 years of incorporation and build up a business credit score