It has often been said that small-business owners are the lifeblood of the U.S. economy. Unfortunately for many would-be entrepreneurs, however, opening the doors to their dream job has become too onerous a task due to a steeper-than-ever stack of regulations and red tape standing in their way.
One such business-minded young man is currently attending American University in the nation’s capital. The appropriately named Tristan Justice now hopes to restore some of the opportunity that once existed in America’s private sector.
While poor citizens and immigrants of the 20th century were often able to eke out an existence — and often get rich — by providing demanded goods or services. Justice, however, recently learned how difficult it has become to set up the simplest of shops.
After looking into his idea of shining shoes to earn a little extra money, he learned establishing the business would cost more than $1,500 and require an approval process that could take the better part of a year.
Facing mounting college debt and an inhospitable jobs environment, Justice expressed the frustration of many of his peers.
“How is the government supposed to encourage young people like me with enormous student loans to become new entrepreneurs,” he wondered, “when they are being bombarded with regulations and fees that they can’t afford from the start?”