The growth is real, but so is the risk.
After working with multiple online businesses, we've noticed that the problem is one of lack. A lack of understanding and knowledge of the law and the required infrastructure to build a business by modern founders, and a lack of supervision by the authorities.
For instance, business owners are not aware of the legal necessity to operate under a registered entity and duly file their taxes. However, in an environment that lacks a governmental body that supervises such activities, this lack of awareness becomes somewhat understandable.
Successful business owners today are no longer the old, experienced business tycoons of yesterday.
The internet has offered abundant opportunities for everyone to make a living online regardless of age, location, gender, and background. It is common to find a teenager today running complex business operations. We've seen that up close.
Founders have never been told about the risks of running operations without the legal infrastructure to back it up.
By imposing itself and regulating such businesses up close with efficient supervision, the government could not only benefit greatly from the growth of the online sector, but also reduce the risk ambitious business owners are faced with.
The worst part is that most founders won't notice until something goes wrong.
Closing that gap is our mission at J&J.
We're building the future of legal, for the future of business.