A small business you coud start is a woodworking business. Some woodwork projects you could make can be small wooden boxes, cutting boards, and the like. You would need to have tools to run a small business. You would need a router, a jigsaw, a sander, a miter saw or a circular saw, and some clamps. This list contains a few of the necessary items needed for starting a small woodworking business. The costs of buying these items are going to be high if you don’t own them. For this venture to succeed there must be commitment. It will take a few months to repay your parents for buying some or all of the tools you needed. It will be a little while before you see any profit. This is why you need to be committed. This is not a summer business, it is a year-long business. Once you have made some products, you will need to sell them. You can sell your products at craft fairs or at some farmers markets that have a craft section. If you plan to sell your products at these places you will most likely need help from your parents. You will need a sellers permit to sell in these places, so ask your parent for help. Selling your products at these place will also cost you some money. For example you will need to pay for your booth. Keep this in mind when you plan to sell your products. You can also sell your products online. There are sites where you can do this or you can just advertise your products online and ask people to email you if they are interested in your products. Don’t forget to sign your products or brand them so your buyers know it was made by you and that it is not a store-bought product. Having a small business like this can teach you commitment, responsibility, and resourcefulness. These traits will be a great advantage in life. Before you start a small business ask your parents for permission.
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There is a problem that wrecks havoc on our economy. “Government ought to do it” is the cry of many people. That is the problem. Government has no money of its own, it has to tax, borrow, or inflate to do anything. This hurts our economy through coercive arrangements. The federal government should protect our life, liberty, and property. It has no legal authority to give us anything. If the federal government did not impose its politics of plunder, that is taking by force from some to give to others, we would not have this problem. The free market is fully capable of doing what the government is doing unconstitutionally. The free market through voluntary arrangements could build dams, bridges, and roads for less and at a higher quality than the government does. Doing it this way would not wreck havoc on our economy. It would not trample over our Constitution. The saying, “if you want it done right, do it yourself” applies to this problem. We should not be saying the government ought to do it, we should say we can do it through the help of the free market. If we follow free market economics we would solve many of our economic problems.
Some people say, “Government should control prices, but not people.” What they are unaware of is that these two are the same. The nature of price controls is to control people. People are the only ones who care about prices. For example when the government enforces minimum wages, it is the people that the government controls not the products or services. It controls people by preventing them from making a profit and expanding their small business. It controls people by preventing them from buying what they want because they are not allowed to offer a price. A person who is in favor of price controls wants to use the power of the government to control people for his own benefits. He wants the government to tell his landlord that he cannot rent an apartment or house above a certain price. He hates competition. He does not want his landlord to tell him he has to pack up because someone is offering a higher price. Ultimately he favors controlling and forcing people to do what he wants them to do. When you look for the purpose of price controls you see it leads to people control. We will never truly be free until all price controls are abolished.
Vanderbilt started his own ferry business by age 16 with only one ferry boat. During the War of 1812, Vanderbilt was awarded a military contract to deliver supplies to the forts along the Hudson River. As time went on Vanderbilt’s sailing boats and ferries started lagging behind the steamboats so he sold his sailboats and went to work for Thomas Gibbons. While an employee for Gibbons, Vanderbilt learned to manage and operate a large business. By the time Vanderbilt was about 35 years old he started his own steamboat company and in ten years it grew to the size of 100 steamboats. Vanderbilt had a great ability to steal customers away from his competitors. His business philosophy was to have the best service for the lowest price. This was the key to his success. Vanderbilt saw the opportunity of the California gold rush and expanded his business to oceangoing steamboats. His business prospered and he became one of the first American millionaires. In the 1860s Vanderbilt expanded his business once again with the advent of the Iron Horse. Vanderbilt seized the opportunity and started to buy up railroad companies. He applied his business philosophy to the railroad industry and in five years he reportedly made 25 Million dollars. His railroad empire soon expanded to 13 railroad companies and covering the northeast United States. Cornelius Vanderbilt died on January 4, 1877 at the age of 82. The majority of his fortune went to his son William. In 2007 dollars his net worth at the time of his death would have been 143 billion U.S dollars. Vanderbilt succeeded because he offered the best for the lowest price. He also lived during a time when the United States government interference into the business sector was limited to its Constitutional boundaries.