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5 Reasons Why Entrepreneurs Flee America (And You Should, Too)

5 Reasons Why Entrepreneurs Flee America (And You Should, Too)


    Move over Generation X…there’s a new generation on the rise. But don’t worry. They’re not invading coffee shops, smoking cigarettes or hanging out at the mall. In fact, they’re not even here.

    Introducing Generation X-Pat

    Unlike previous generations, Generation X-Pat is not defined by birth years. They aren’t the same age, race, or creed. Gen X-Pat are those who have fled America and have no plans of coming back.

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    And they are increasing at a rapid rate. In 1999, there were only 4.1 million U.S. citizens living overseas. Today, there are 6.32 million. Plus, the number of Americans planning to move overseas has increased by 1.7 percent since 2009.

    They’re entrepreneurial, too. Spend time in Central America and you’ll notice nearly every expat owns their own business. Whether it’s a bakery, non-governmental organization, property management firm, or Internet person (how ever they make money), American’s entrepreneurial spirit is still going strong… even if it’s going somewhere else.

    Below are five reasons why many entreprenuers flee America for elsewhere:

    1. High Taxes

    The United States has the second highest corporate tax rate in the world (behind Japan). At the high end of 35% that’s almost triple Ireland’s tax rate.

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    Thanks to a few legal loopholes, however, U.S. companies pay the same or only slightly more than other countries. This means U.S. companies are shifting their profits – and the jobs that come with them – to low tax countries like Ireland, Denmark and Austria.

    If companies are leaving… why shouldn’t entrepreneurs?

    2. A Faltering Economy

    According to the Bureau of Labor Statistics, the unemployment rate has more than doubled from 4% in 2000 to 8.3% in 2012. With less opportunity domestically, many entrepreneurs are heading abroad to find their fortunes.

    Developing nations – especially those in Central America – are a haven for entrepreneurs. They offer a lower barrier of entry and therefore less risk is things don’t turn out.

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    Plus, as many X-Pats reveal in this interview, there is little to no competition for opening a small business in developing nations.

    3. Internet = Freedom

    The Internet is everywhere… and entrepreneurs are happy to get paid in dollars while living on quetzales, cordobas or baht. When you compare the cost of living between the U.S. and Guatemala, it’s easy to see how far your money goes.

    Working outside a traditional office is also a great way to prevent burnout.

    4. Escape from Suburbia

    Many X-Pats grew tired of suburban sprawl. Combine that with the rising costs of U.S. cities and moving abroad seems like an obvious choice.

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    My husband and I grew up in Silicon Valley. There used to be orchards and small, individual towns. Now, each city spills over into a seemingly endless procession of planned neighborhoods, Starbucks and strip malls. Wouldn’t you want to see something different?

    Which leads us to our final reason…

    5. A Desire To Go

    Some reasons listed here are decidedly negative. But one positive is that travel is good for you. Traveling takes you out of your comfort zone, challenges you in ways you never imagined and ultimately reveals who you are.

    Will these Generation X-Pats return? Or will they – and others like them – continue to flee America in search of opportunity and adventure? And if they do leave, what effect will this have on the U.S. economy?

    How do you feel about Generation X-Pat? Leave your thoughts in the comments below.

    (Photo credit: Airline Passengers via Shutterstock)

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    8 Smart Home Gadgets You Need in Your House

    8 Smart Home Gadgets You Need in Your House

    We’ve all done it. We’ve gone out and bought useless gadgets that we don’t really need, just because they seemed really cool at the time. Then, we are stuck with a bunch of junk, and end up tossing it or trying to sell it on Ebay.

    On the other hand, there are some pretty awesome tech inventions that are actually useful. For instance, many of the latest home gadgets do some of your work for you, from adjusting the home thermostat to locking your front door. And, if used as designed, these tools should really help to make your life a lot easier—and that’s not just a claim from some infomercial trying to sell you yet another useless gadget.

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    Take a look at some of the most popular “smart gadgets” on the market:

    1. Smart Door Locks

    A smart lock lets you lock and unlock your doors by using your smartphone, a special key fob, or biometrics. These locks are keyless, and much more difficult for intruders to break into, making your home a lot safer. You can even use a special app to let people into your home if you are not there to greet them.

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    2. Smart Kitchen Tools

    Wouldn’t you just love to have a pot of coffee waiting for you when you get home from work? What about a “smart pan” that tells you exactly when you need to flip that omelet? From meat thermometers to kitchen scales, you’ll find a variety of “smart” gadgets designed to make culinary geeks salivate.

    3. Mini Home Speaker Play:1

    If you love big sound, but hate how much space big speakers take up, and if you want a stereo system that is no bigger than your fist, check out the Play:1 mini speaker. All you have to do is plug it in, connect, and then you can stream without worrying about any interruptions or interface. You can even add onto it, and have different music playing in different rooms.

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    4. Wi-Fi Security Cameras

    These are the latest in home security, and they connect to the Wi-Fi in your home. You can use your mobile devices to monitor what is going on in your home at all times, no matter where you are. Options include motion sensors, two-way audio, and different recording options.

    5. Nest Thermostat

    This is a thermostat that lives with you. It can sense seasonal changes, temperature changes, etc., and it will adjust itself automatically. You will never have to fiddle with a thermostat dial or keypad again, because this one basically does all of the work for you. It can also help you to save as much as 12% on heating bills, and 15% on cooling bills.

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    6. Smart Lighting

    Control your home lighting from your remote device. This is great if you are out and want to make sure that there are some lights on. It is designed to be energy efficient, so it will pay for itself over time because you won’t have to spend so much on your monthly energy bills.

    7. Google Chromecast Ultra

    Whether you love movies, television shows, music, etc., you can stream it all using Google Chromecast Ultra. Stream all of the entertainment you love in up to 4K UHD and HDR, for just $69 monthly.

    8. Canary

    This home security system will automatically contact emergency services when they are needed. This system offers both video and audio surveillance, so there will be evidence if there are any break-ins on your property. You can also use it to check up on what’s happening at home when you are not there, including to make sure the kids are doing their homework.

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