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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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    Last Updated on December 2, 2019

    10 Powerful Ways to Stop Worrying and Start Living Today

    10 Powerful Ways to Stop Worrying and Start Living Today

    Plato knew that the body and mind are intimately linked. And in the late 1800s, the Mayo brothers, famous physicians, estimated that over half of all hospital beds are filled with people suffering from frustration, anxiety, worry and despair. Causes of worry are everywhere, in our relationships and our jobs, so it’s key we find ways to take charge of the stress.

    In his classic book How to Stop Worrying and Start Living, Dale Carnegie offers tools to ditch excessive worrying that help you make a worry-free environment for your private and professional life.

    These are the top 10 tips to grab worry by the horns and wrestle it to the ground:

    1. Make Your Decision and Never Look Back

    Have you ever made a decision in life only to second-guess it afterwards? Of course you have! It’s hard not to wonder whether you’ve done the right thing and whether there might still be time to take another path.

    But keep this in mind: you’ve already made your decision, so act decisively on it and dismiss all your anxiety about it.

    Don’t stop to hesitate, to reconsider, or to retrace your steps. Once you’ve chosen a course of action, stick to it and never waver.

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    2. Live for Today, Package Things up in “Day-Tight Compartments”

    You know that feeling: tossing, turning and worrying over something that happened or something that might, well into the wee hours. To avoid this pointless worrying, you need “day-tight compartments”. Much as a ship has different watertight compartments, your own “day-tight” ones are a way to limit your attention to the present day.

    The rule is simple: whatever happened in the past or might happen in the future must not intrude upon today. Everything else has to wait its turn for tomorrow’s box or stay stuck in the past.

    3. Embrace the Worst-Case Scenario and Strategize to Offset It

    If you’re worried about something, ask yourself: “What’s the worst thing that could happen?” Could you lose your job? Be jailed? Get killed?

    Whatever the “worst” might be, it’s probably not so world-ending. You could probably even bounce back from it!

    If, for example, you lose your job, you could always find another. Once you accept the worst-case scenario and get thinking about contingency plans, you’ll feel calmer.

    4. Put a Lid on Your Worrying

    Sometimes we stress endlessly about negative experiences when just walking away from them would serve us far better.

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    To make squashing that worry easier, try this strategy, straight from stock traders: it’s called the “stop-loss” order, where shares are bought at a certain price, and then their price development is observed. If things go badly and the share price hits a certain point, they are sold off immediately. This stops the loss from increasing further.

    In the same manner, you can put a stop-loss order on things that cause you stress and grief.

    5. Fake It ‘Til You Make It – Happiness, That Is

    We can’t directly influence how we feel, but we can nudge ourselves to change through how we think and act.

    If you’re feeling sad or low, slap a big grin on your face and whistle a chipper tune. You’ll find it impossible to be blue when acting cheerful. But you don’t necessarily need to act outwardly happy; you can simply think happier thoughts instead.

    Marcus Aurelius summed it up aptly:

    “Our life is what our thoughts make it.”

    6. Give for the Joy of Giving

    When we perform acts of kindness, we often do so with the expectation of gratitude. But harboring such expectations will probably leave you disappointed.

    One person well aware of this fact was the lawyer Samuel Leibowitz. Over the course of his career, Leibowitz saved 78 people from going to the electric chair. Guess how many thanked him? None.

    So stop expecting gratitude when you’re kind to someone. Instead, take joy from the act yourself.

    7. Dump Envy – Enjoy Being Uniquely You

    Your genes are completely unique. Even if someone had the same parents as you, the likelihood of someone identical to you being born is just one in 300,000 billion.

    Despite this amazing fact, many of us long to be someone else, thinking the grass is greener on the other side of the fence. But living your life this way is pointless. Embrace your uniqueness and get comfortable with who you really are: How to Be True to Yourself and Live the Life You Want

    8. Haters Will Hate — It Just Means You’re Doing It Right

    When you’re criticized, it often means you’re accomplishing something noteworthy. In fact, let’s take it a step further and consider this: the more you’re criticized, the more influential and important a person you likely are.

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    So the next time somebody talks you down, don’t let it get to you. Take it as a compliment!

    9. Chill Out! Learn to Rest Before You Get Tired

    Scientists agree that emotions are the most common cause of fatigue. And it works the other way around, too: fatigue produces more worries and negative emotions.

    It should be clear, therefore, that you’ve got to relax regularly before you feel tired. Otherwise, worries and fatigue will accumulate on top of each other.

    It’s impossible to worry when you are relaxed, and regular rest helps you maintain your ability to work effectively.

    10. Get Organized and Enjoy Your Work

    There are few greater sources of misery in life than having to work, day in, day out, in a job you despise. It would make sense then that you shouldn’t pick a job you hate, or even just dislike doing.

    But say you already have a job. How can you make it more enjoyable and worry-free? One way is to stay organized: a desk full of unanswered mails and memos is sure to breed worries.

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    Better yet, rethink about the job you’re doing: What to Do When You Hate Your Job but Want a Successful Career

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    Featured photo credit: Tyler Nix via unsplash.com

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