Opportunities for starting business in USA

This is a most appropriate time for Indian Business to start new business in USA and provide employment to US citizen of India origin.

The unemployment increase in USA has reached an alarming level and the recent ban on H1-B visa has worsened the situation for Indian community staying in USA.

USA government would welcome establishment of new businesses by Indians staying in USA as permanent residents with citizenship status.

Once you start a business you  can open bank accounts, enter contracts, hire employees, and obtain business licenses and permits with the name of company or business.

Due to high cost of living, most of the Indians are unable to invest money to start a business. However, if well established industries and investors from India join hands with them, they can expand their business here providing employment to those in search of job.

I have searched for the options available for starting business and would like to share with you the information.

Starting a business as Sole Proprietorship

It is simple to set up and puts you  in complete control of your business. You'll have to register the name of business under the state where you wish to establish business. However, in this case, you  are completely at risk. If the company gets sued, you are personally and financially liable. A partnership functions in much the same way, except you and someone else are owners together and equally liable.

Starting a business as LLC.

LLC means Limited Liability Company. That means,  your personal assets like bank deposits, home or car remain protected from your business loss or profit. You need not have board of directors or shareholders to run the business. Employee wages are considered operating expenses for the LLC and will be deducted from the LLC's profits.

Starting business as Corporation -

This option is for big business. You should have board of directors, officers, and shareholders. You require to maintain records of  annual meetings with corporate minutes. There is no personal liability in corporation. It also provides additional benefits and better access to capital.

Raising Capital

1. Use of own funds or from family or friend
2. Taking loan from bank
3. Raising funds through Crowd Funding campaign
4. Venture capital or angel investors with share of ownership

There are many resources and agencies which help in setting business from scratch with legal and financial advice. Banks also help in providing business credit cards for meeting expenses but their interest rates are high.

I found that very few Indians in USA venture for starting a business of their own except shops, hotels and private medical practitioners, IT  and legal service firms.

Since my visit to USA in 2001, I am having a dream of starting business in USA. But my relatives and friends have discarded that idea. As I am holding green card status, I can participate officially in such venture, if it suits my professional qualifications, age and experience.

 This is a wild thought. But I dream of such a company in USA of our own. Who can prevent me from enjoying such such distant dream?