Monday, March 23, 2009

Scotland is taking our best and brightest

From a serial entrepreneur who is moving his company to Scotland:
  • We will reincorporate the company in Scotland- form a new Scottish entity and have it acquire 100% of the US entity.
  • I will remain in the States, but we will pass all of the revenue through Scotland to avoid the higher US corporate taxes.
  • The Scottish government has 35 'recruiters' on the ground in the States (10 in Boston, 5 in NYC, and 20 in Silicon Valley). Their purpose is to recruit entire companies or specific operations of existing companies to Scotland. They are doing a roaring business.
  • Scotland has decided that they are going to create a knowledge-based workforce and economy. They have allocated a significant amount of grant money to attract companies to 'Silicon Glen'.
  • We are qualified for $2+ million in grants. This is a prime reason for us to consider Scotland.
  • Another reason is that Scotland's high tech expertise in display and voice recognition technology is ahead of the States. Both technologies are key to our product.
  • Another reason is that the Scots allegedly have a much higher work ethic than the Americans do. I am extremely put off by the entitlement mentality that grips the upcoming generation of Amwerican workers. I don't want to hire any of them.
  • Another reason is that the 'Card Check' legislation is very likely to pass. Moreover, the unions are planning to specifically target the high tech sector. I do not want to ever deal with that issue. It will kill many businesses - especially in the tech fields - where you have to be able to change strategy and direction quite quickly.
  • Finally, our current administration is highly anti-business, which is the best reason for me not to bother starting a new company based in the States.

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