Current Events > I'm helping advise my friend on how to incorporate and start his own business

(+) Yeah! (+)

A moving business, but for all intents and purposes, just pretend it's any in-home service industry with 3-5 employees. Could be roofing, carpet cleaning, plumbing, etc. He's already working in the moving industry as a manager, but doesn't have that ownership mentality yet. Still kinda treats himself like the classic /r/antiwork employee, so hard done by, "boss is a prick", etc. Even though his boss is the owner, as well as a family friend of his. He's always murmurred about "going into business for himself", so I thought we could discuss some of the absolute basics.

He doesn't quite get the concept of it, and says it's just a "government cash crab". He doesn't like to pay his income taxes, so he he struggling with the idea of incorporating and paying his company taxes, on an ideological level. I think he thinks the extent of "running his own business" is pounding the pavement to drum up business, and then only take cash payments. Not to have insurance, WSB, or anything in place to protect the customer. "Don't worry, it's on me to do a good job, and I'll just pay my liabilities directly, but I won't have to because there won't be any".

We also got into a bit of discussion about financial statements and bank reconciliations. He scoffed at the bank thing, saying he will only go to customers who pay in cash, because "there are plenty out there". I explained to him how, for example, his moving trucks are an asset to be depreciated for accounting purposes. He replied, "No, I'll just run them into the ground and buy new ones, or possibly rent trucks". These are 26ft moving trucks, btw, not a little side-door uhaul.

I'm hoping he comes around because he knows how to run the operations side of the business. But he has this conspiracy-theory-backed fear of the government, banks, insurance companies (well, that one is valid), and other things that are important to know for an entrepreneur.

Well, you tried