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Only a tiny fraction of wealth is created by bootstrapping. 60% of all wealth in USA is inherited. Bootstrap started as a joke.
US politician Alexandria Ocasio Cortez says,” The idea, this metaphor of a bootstrap started off as joke. Because, it is a physical impossibility to lift yourself up by a bootstrap, by your shoe laces.”
After USA had freed slaves, it did not give them an economic base to start with. On the contrary USA gave white peasants millions of acres of land to start businesses. The $500bn Brookfield, an asset management company, started with an inheritance of $15mn.
95% of Indian businesses are micro businesses, with less than 5 employees. They are unable to grow due to the lack of finance . Only 4% of small businesses have access to formal finance. The rest rely on the family wealth, which is not adequate. For businesses to grow government has to build the banking infrastructure for the small businesses.
Dig more: 8 Best Industries for Starting a Business in 2020 Link