What is remarkable about comparing Hawaii with mainland states is that the atmosphere or climate here works against entrepreneurship, that is, it is difficult for folks who have a great idea about starting up a business or new enterprise to actually break into the market.
Bright people, both young and old, find numerous barriers placed before them before they can even open their doors for business. The first reaction would be that taxes are so high in Hawaii where the general excise tax is imposed regardless of whether or not a business or enterprise is profitable.
So while a start-up business may have to take a minimal mark up on its products or services in order to attract customers for the first time, the general excise tax eats into the mark up to the point where those start-up businesses have little left to reinvest in new products or services.
To read the full, original article click on this link: Odds Against Entrepreneurship in Hawaii | Hawaii Reporter
Author: LOWELL KALAPA
