You moved to the U.S. for better opportunities, and now you’ve resolved to start your own business. While being a business owner may sound like an exciting prospect, it involves many moving parts and requires a lot of time and energy, especially in the early stages! Yes, you will have more control over your destiny, but you will also have more responsibilities.
L-1 visas are typically given to business owners from foreign countries who wish to expand their operations, and they last for at least one year. If you can demonstrate how you will run a profitable business, you may qualify for an E-2 visa. And another option is the H1B visa, which is issued to temporary workers that possess technical skills.
You can use your business plan to win over investors and guide your decisions in the early stages of your company. Find a simple business plan template online to get started.
Another essential step when starting a company is to choose a legal structure. If you would like pass-through taxation, limited liability, easier management, and other perks, consider forming an LLC. Your state will have specific regulations to follow, so you will want to learn as much about the process as possible before moving ahead. Rather than handling the legwork yourself, work with a formation service like ZenBusiness or LegalZoom, which can walk you through the process affordably and quickly.
Most businesses need licenses and/or permits to operate. You will need to check with local, state, and federal authorities to determine which ones you need. For instance, you will need a license to operate machinery, transport animals, or sell alcoholic beverages.
The U.S. is the land of opportunity and the perfect place to start a business. If you are coming here from another country, then you will need to take a few extra steps to get going. Along with following the advice above, keep researching other things you should do to lay a firm foundation for your dream company!
This post was contributed by David Dixon, a guest contributor for the Business Intelligence Blog & Edited by the Business Intelligence Team.