How to Solve the Jobless Crisis Brewing in The World
The immediate answer to solving this problem is by creating more jobs. The answer may seem quite straight forward, but it has proved difficult for the past two decades. The rise in unemployment has steadily risen throughout the world.
One of the reasons for this is that the population is growing faster than the job market can accommodate. Another reason is fewer people are starting successful businesses today. Entrepreneurs have fewer incentives to start a business and instead choose the security of having a 9 to 4 job.
Companies can no longer recruit more individuals, while some are even downsizing their firms. Experts may blame the downsizing to the use of technology, and to a large extent, this is true. But tech has also led to the creating of more jobs in new sectors; you can even work as an essay writing specialist online today.
The youth, as they join college, is full of energy and potential. Their future is optimistic and expects to be successful immediately after getting their degree. But sadly, this is rarely true. Many will have to look for a job tirelessly while many have to settle for occupation, they have no interest in. But how does the nation solve the jobless crisis? How do we make sure that the future of our country prosperity and do better than the previous generation?
Lower Interest Rates from Bank Business Loans
Instead of looking for a job, more people should look to start a company. Many young entrepreneurs would love to start their business. As many politicians would tell you, “Small businesses are the backbone of this country.” While this statement is a true beginning, a company is becoming increasingly difficult.
The interest rates banks are offering are too high for a small-time business to acquire. Such loans need you to start paying it off immediately, giving your business very little time to grow. The banks are more focused on you repaying the money than growing your company. In the end, all the profit and initial capital you put down is collected by the bank, leaving you with no company or capital.
While investors play an important role in building new companies, it can be hard to get proper backing. Such investors will only invest in a business that is already profitable meaning you have to have an initial investment from another source before approaching investors.
Seed capital is often another great way to get money for your startup. But the rigorous process of attaining this capital can be strenuous. You also have to have a unique idea to be considered by any of these investors. If your plan is good, many will opt to buy large amounts of shares at penny stock rates. Once your company grows, they will control it and take most of the profits.
As you can see, though not the most popular capital source banks can be your best shot, however, the interest rates need to be reduced, and the payment plan extended. They should let the business grow first before recouping their money. Such policies can only come into play with assistance from the government.
Cut Taxes on New Business
As we have mentioned, the government has a huge role to play in reducing unemployment. And an excellent way to do this is by reducing taxes on new businesses. This will help the startup have more money in circulation and hence grow faster.
Improve Infrastructure Everywhere
One of the main problems is, many people believe all the good jobs have only found in the big cities. This has led to many individuals moving to the city. Sadly, the congestion of people results in very high competition for jobs.
The government should look to develop less industrious places. With proper infrastructure, more companies would settle in these remote places. Meaning people would not need to move to the cities to get jobs.
Such infrastructure development would help balance resources across the nation. In the end, instead of only one region or state growing the whole country would grow. This would bring more unity and diversity and could be a tool to fight racism and inequality.
Better the Education System
Education is vital for every individual. It helps better your life and presents you with better opportunities to get higher paying jobs. However, education can be expensive, making many students forfeit getting a degree.
Without such papers, many end up getting low paying jobs or getting into crime. By improving education, the government can allow such individuals to better the lives through better-paying jobs.
A nation with a lower rate of unemployment means that more individuals are productive. They are all striving to make the nation a better place. It is the dream of every country to achieve this, but the process has to begin with changing our policies