3 Questions to Ask Yourself Before Starting a Business

Each year, there are over 627,000 new businesses registered. This seems like an extraordinary figure, but in actual fact, 60% of those businesses will fail within the first three years and 20% within the first twelve months. So if you are thinking about starting your own company, how can you ensure that you are in the 20% of organisations that see long term success?

The key is in the planning. Rather than jump in all guns blazing, the most successful entrepreneurs take their time to set their affairs in order and lay the foundations. The steps needed to start a business are numerous, so before you get started on your journey it would be wise to ask yourself a few questions. This will help to give you a better idea of what your company will look like, and whether or not you are ready to take this step.

With this in mind, here are the three most important questions to ask yourself before starting a business.

Why do I want to start a business?

Before you make any major life decision, you should always seek your why. The reason for wanting to take this journey. Understanding your motivations will help you discover whether the world of business is truly the right course for you, or if it is just a fleeting desire. A little introspection will help you determine you are motivated by money, fame, success, or the desire to create something from nothing. Maybe you have more noble reasons such as a genuine desire to help consumers fulfill a need or a wish to make the planet a better place. Having a clear view of your goals and targets will keep you motivated in the difficult early years of the business.

Am I willing to put the hours in?

Getting a business off the ground is not easy. You will have to put in a monumental amount of time and energy to keep things going. Your responsibilities will go beyond that of a business owner, as you’ll also be wearing the hats of accountant, marketing manager, salesperson, and IT support. You will be up at the crack of dawn and working late into the night sending emails, ordering supplies, and seeking new business opportunities. If you are not willing to graft, or you think your current personal and professional responsibilities might get in the way, then this might not be the right time for you.

Can I do it alone?

Are you able to get the business starting and keep it running all by yourself? Hiring employees is expensive, so you may wish to go it alone in the beginning. This can save you a huge heap of money, but it also means a great deal of extra work. Bringing in a small team, although costly, will give you more time to focus on the business and you’ll also benefit from the additional ideas and experience floating around. Alternatively, you could consider outsourcing your needs to a third-party company.

Five Steps To A Better Business in 2022

DANGER! Your company’s survival is in jeopardy. In the ever-competitive world of business, you’re up against other business executives who want a cut of your profits. Certain efforts must be taken to counteract this. If you don’t, you could end up like a lot of other businesses that have gone under in the past. Goodbye! Consider the following if you want to succeed.

Step 1: Make a game plan for success.

Every business owner must plan ahead of time. In spite of the fact that your plans may alter throughout the years, you should still take steps that will support your growth. It’s important to know where to spend and conserve money, as well as how to negotiate. Reading, talking to other company executives, and attending industry events are all ways to gather vital ideas to help you thrive.

Step 2: Recruit the best people

If you run a small business out of your house, you may not even need to hire anyone. A full-time employee may not be necessary for you, but it may still be worth looking into hiring someone on a part-time or freelance basis. Get recommendations from people in your sector or read reviews of outsourcing businesses to discover the best employees by using headhunters to find the ideal workers.

Step 3: Safeguard your company.

There are numerous threats aimed at bringing your company down, therefore you must safeguard yourself. This involves obtaining the most up-to-date antivirus software to secure your online procedures from cyber-attacks. Install a firewall and password to protect everything, particularly if your computer contains important information about your business and its clients. Don’t forget about legal protection. You want to safeguard your intellectual property from competitors attempting to steal your ideas, and you also want a lawyer on speed dial in the event of electronic payments litigation , or in case a client fails to pay you for services performed. Arrange your defenses in such a way that you avoid falling victim to any of the concerns that could ruin your company.

Step 4: Continue marketing your business at all times

Prior to going live, it’s usual for companies to ramp up their marketing efforts, only to back off once the money starts rolling in. Never let yourself become complacent. Always be looking for fresh ways to get your name out there. If you don’t have the time or resources to devote to acquiring new customers, consider hiring a marketing agency to help you. The latest trend in marketing is digital, yet classic methods like word-of-mouth and traditional advertising can still be effective.

Step 5: Don’t overwork yourself.

Last but not least, keep in mind that you have a life outside of work. It’s understandable that you want your business to flourish when you’ve put in so much time and effort into it. However, if you get too fatigued to work, you risk derailing your own business. So, get lots of rest, hire others to help you if necessary, and spend time doing things you enjoy in life. Afterwards, you’ll be ready to take on the challenges of your business with a new outlook and a renewed sense of purpose.

We wish you great luck in whatever venture you are embarking on!

4 Common Challenges You Will Face As A Startup Company

The primary objective for running a business is to provide a need while making profits. For many new entrepreneurs, the latter can be quite a challenge, especially because they are yet to learn more about the rugged business terrain. Overcoming these challenges can be a mark of your business tenacity. But what happens if you fail to pull through and end up adding to the 10% of new businesses that don’t make it past the first year? You can learn more about some of these common challenges below. 

1. Poor financial management

According to data collated in 2019 and 2020, 60% of startups in the US were culprits of various forms of questionable financial management. As a startup, your success in the short to long term depends on how well you manage your cash inflows and outflows. Unfortunately, several new entrepreneurs who face this tend to have an insufficient financial management background. Sadly, the trend continues and contributes to why the startup failure rate in the US increased from 75% (2016 stats) to a whopping 90% in 2020.

Indeed, when your startup company succeeds, it means you’re probably doing more than breaking even. Profit and revenue mean a great deal for businesses. The more money you make, the more responsibility you have to put it to good use. Unfortunately, many startup owners fail to put the money back into the business. In the long run, coupled with unaudited accounts, the company runs to the ground.

Another pertinent issue under poor financial management is the failure to separate personal and business accounts. According to statistics, about 45% of new entrepreneurs do this. So, if you’re reading this, it is worth noting that poor financial management can destroy all the hard work you put in from scratch.

2. Fierce competition

If put to good use, competition can be a motivating tool to propel business growth. However, it seems not many startups can steer smoothly through the stormy competitive waters. Unfortunately, this fierce opposition in the business world usually favors companies that withstood years of haggling. As a startup, the odds may seem against you, but it will be in your interest to turn it around.

The 21st-century business world thrives on digitization and a robust online presence, and you can use that to your advantage. It is in your interest to use all the tools the digital age presents to propel your startup to the front row. Whether you like it or not, competition in the business world is rife and can be pretty ugly. Admittedly, the latter can happen when competitors employ underhand moves to kick startups to the curb. If the events are too much to handle, it may be the right time to sell the startup to a more experienced entity. 

3. Poor planning

If you fail to plan, you plan to fail. This famous saying holds so much truth, probably even more than many will admit. For a business startup, planning is everything. Remember that the business world is crowded, and you cannot afford to ignore proper preparation. More so, it is vital to ensure that all your bases are covered. When you plan, it becomes a guideline for you to follow. Sometimes, as you run the business, specific opportunities may arise that enable you to add on to the old plan.

While at it, it is crucial to subject your plans to periodic reviews. The truth is, many internal and external factors can negatively impact your business. The coronavirus pandemic is a typical example of an external influence that impacted businesses worldwide. As countries tried to fight the ripple effects of the pandemic, businesses with backup plans sailed through. Unfortunately, those with weak or no backup plans went under. Remember that events can take an unexpected turn, and that explains the need to plan.

4. Cybercrime

Last year alone, identity theft and data loss accounted for 1.4 million cybercrime complaints in the US. Cybersecurity is a critical issue that America and the world continue to grapple with. This can be even more challenging as a startup, mainly because it can destroy your small business. Moreover, if you lose crucial client data, you could face costly lawsuits that make it impossible to rebuild the business.

As a safeguarding measure, it would help if you invested in high-grade online security systems. The truth is, becoming a cybercrime victim can cost more than what it takes to protect your online systems. 

To conclude, startups have more pressure to make it to the top. It explains why they face a myriad of challenges in the first five years.

Spending Your Money On The Right Web Host

Choosing the best web host for your small business is no mean feat. Whether you’re starting your first small business or already have an established business, it can be tricky finding the right company for your hosting needs. 

There are many factors to consider, including uptime to ensure your business website is online and available to your customers, and security which is imperative for protecting your customer’s personal data.

While there are plenty of web hosting companies around the world ready to take money from your already limited budget, there are some which can really help get your small business off to a great start.

Security

Security should be one of your main priorities when choosing a web host for your small business. If you are selling products or services on your website, you need to make sure the process is secure in order to protect your customers.

This is imperative for all companies, but especially those holding sensitive information. The leading medical malpractice attorneys, for example, will have the best security in place, and a web host is just one part of this. 

Many web hosts offer a free SSL certificate that puts HTTPS in front of your URL. This indicates that your website is secure so any payments taken via your site will be protected. Even if you’re not selling anything, a secure website is imperative in order for your customers to trust you and your brand.

Aside from SSL certificates, you should consider whether your web host offers additional security measures, like DDoS protection, malware checks, vulnerability protection, etc. If you are using WordPress, there are web hosts that will manage your WordPress hosting in full which will include checking for updates, including plugins and core WordPress files.

Speed and performance

When it comes to the speed of your website, every second count. If your website doesn’t load quickly due to server issues and poor server performance, then you’re in trouble! Website users don’t have much patience, so if they can’t access your website content in a matter of seconds, they will abandon your website and go elsewhere.

Speed and performance are largely determined by the server infrastructure the web host is using. You can request this information from your web host, or in many cases, this is already detailed on the server information or pricing pages.

Resources

You will need to consider the resources you need for your website. This includes storage, bandwidth, email accounts, MySQL accounts, etc. For small businesses, email accounts are likely going to be a priority as you’ll want to provide multiple services for your clients such as contact, sales, marketing, and so on.

In general, most small business websites won’t exceed 5GB storage, however, it’s recommended to find a web host that either offers double this, to be safe, or unlimited storage so you won’t have any concerns. Bandwidth refers to the amount of data that can be passed between your website and server; if you expect to receive a lot of traffic to your website, unlimited bandwidth is a must-have so you don’t exceed your resources.

Need Legal Advice? How to Choose the Right Lawyer

There are many times in life when you will require the services of a lawyer. Throughout life, many people are likely to need legal advice in both their personal and work life. Lawyers play such a crucial role in society, helping with everything from preparing your will and buying real estate to defending your interests in legal disputes. If you own a business, you will have even more need to find a lawyer and use them for various issues, including drawing up vital contracts to protect your business interests. 

As lawyers play such a vital part in many of the critical areas of your life, you need the best attorney for the job. Whether you need a lawyer for your business, a real estate purchase, or a family matter, these tips should help you select the best attorney for the job:

Check Their Qualifications and Accreditations

When you are putting your trust in an attorney to handle an important issue, you need to be sure they can handle the task with professionalism and the necessary knowledge and experience. Lawyers must have a degree from an American Bar Association accredited law school. Depending on which state you are in, your lawyer will also need to have sat Bar exams to be licensed to practice law. You should only ever work with an attorney with the relevant accreditations and qualifications.

Choose an Expert

When you want your legal issue dealt with effectively, it is essential to choose an expert lawyer. When it comes to the law, a one size fits all approach to finding an attorney is unlikely to bring you the successful outcome you are hoping for. Instead, it is much better to look for a lawyer who is a specialist in their field to provide expert advice based on their vast skills and experience. Whether you are looking for an estate planning attorney capable of handling a high-profile case, or a business lawyer able to resolve a sensitive issue, you need to choose an expert to represent you and your interests.

Location Matters

Choosing a specialist attorney who is an expert in their specific field is essential to get the best results, but the attorney’s location matters too. When you choose a lawyer, you need to be sure they are licensed to practice law in the state. Otherwise, they may be unable to help you at all with your legal needs. 

Even if a lawyer is licensed to practice law in your state, you may also want to check how familiar they are with relevant local laws that apply to your case. Selecting an attorney with local knowledge of each state’s law is essential. Using a lawyer with proven experience in handling similar cases in your state is reassuring and can also be a significant advantage.

Look for Recommendations

Selecting a lawyer can often feel like taking a step into the unknown. So, along with following the above tips, it is helpful to look for genuine testimonials from previous clients.

7 Plans To Prepare Your Business For Higher Return on Investment

If you are looking for ways to grow your business and get a 500% ROI, then you are at the right place. Here you will get an idea of how to increase your customer base and focus on marketing and training to get 5 times more profits. Keep in mind that initially, you may find it hard to maintain these items on your wishlist, later you will get incredible growth within your business.   

So, let’s discuss seven important plans for your business success.

1. Identify Pain points

When you are stepping forward for your business success, the first step is not to come up with a unique idea. Looking strange as everyone in the market discusses bringing “something new” or “unique ideas.” Then what should you come with? Keep in mind that customers are king in business. Therefore, it will be more fruitful if you think about the customer’s pain and start working for the solution. For instance, every business bears a great loss in 2020 due to COVID-19, especially food vendors. But, those who made a quick decision and started home delivery of food items via applications were able to survive. The reason is not that they have a unique idea, but they understand customers’ problem that they cannot step out of the house due to a pandemic outbreak. So, you can also focus on customer issues more rather than thinking about an entry into the market with new products or services.

2. Get to know your potential customers.

Knowing about your customers is a need for hours if you want to stay ahead of competitors. So, give enough time to business plans and strategy formulation. You can start by building a strong relationship with customers. Let’s illustrate, You are in the e-commerce business, and you want to boost organic traffic. Then you should start working on building contacts with customers through one-to-one emails, social media conversations, video conferences, and phone calls. Besides, you can also take assistance from some applications that guide for deep insights into our visitors and customers and let you know where the site is falling.

Working on these can surely serve amazing results. Bear in mind that relying only on tools or one-on-one data solely is not a great idea, until you will be able to work on both and understand potential customers.

3. Create a minimum viable product

Practice makes perfect. The same lies in business. You can’t hit the target of high profitability at the pioneering stage of product development. It does not mean you will demotivate, but you need to think about the product and service’s scope for improvement. For instance, when you come up with a new product, give your users/customers free testing rather than fixing the price. Ask them to share their valuable feedback. You can also send an online or offline feedback form in a questionnaire form. It makes it convenient for customers to give feedback. If sometimes you get negative feedback, do not worry, work on it, and start improving. Once you get the improved product, it will be surely accepted by customers and helps you to achieve desired results.

4. Write a business plan press release.

Giving your customers insight into your business plans is a new-age business strategy. It helps to build trust in customers that you are taking their concern’s responsibility. Therefore, a press release is a perfect option to give your readers a hook. Just define their problem, and what you have done to resolve it, is more than enough for promotion through words. When you are defining a customer’s problem, do not forget to show them in numerical form. It creates a great impression than mere words. Ask them in the past tense that your product is a solution for how many customers.

5. Invest in people and process to grow your team without you

Employees are keys to the success of the business. Therefore, hiring experts and letting things go on cannot serve fruitful results because everyone comes from different organizations and has different values to work and understand things. Which may not suit your business requirement. Therefore, for lean management in a company, you need to look for employee training from experts. Training can be in the form of workshops or online. Your employees will get to know what is going on in the industry and how they can raise their contribution levels for business success. Hiring an expert for business training means there is no need to take the extra burden, and you can easily focus on your business strategies. 

6. Use content marketing to drive organic search.

Using content and guiding your users about products and services are really becoming trending. Because people want to know more about your products and different ways to use them. Therefore, working on this helps you achieve a higher profit target in less time. Like, you are in a chocolate manufacturing business, rather than just promoting your chocolate, work on ways to use chocolate in different ways. Give them unique ideas like making mouthwatering desserts and define the health benefits of your product. These are highly trending ways to promote your product in the market through content.

7. Own your social media channels but be cautious of ‘paid.’

Social media is quite a common platform to promote your product or services. You can also take advantage of Facebook, Instagram, Twitter as these are highly popular channels among generation Y and Z. These platforms assist you to easily target your audience. You can plan for paid ads on these channels. But, be careful and precisely study your right platform. Because investing without thinking can burn your product promotional budget.

Bottom Line

Hope the above information helps you to reach the peak growth in business.  Keep on practicing with these trips because the purpose of business is to go on. Again,

  • Begin your business plans by identifying customers’ pain points and create a product that becomes their companion.
  • Invest in reliable resources to train staff about the latest technology and trends in business.
  • Informing customers is a necessary step, so inform them through a reliable channel about your products or plans.
  • Get to know more about your potential customers for better reach and understanding.
  • Guide your audience for the product benefits and uses through content marketing
  • Use social media to promote your product or service.

Things You Need To Consider Before Setting Up A Craft Brewery

A recent survey confirms that more than 4,000 brewpubs and small breweries are running across the United States and the market has flourished incredibly over the past 20 years. Making your unique place in the industry by going for your own craft brewery can be challenging.

Before we get into how you can set up your own craft brewery in the USA, there’s something you should know. Apart from a clear vision and a concrete market plan, it would be best if you came up with something that your competitors are not able to provide. According to market researchers, there is still room for brewery companies who think beyond beer recipes. This means that you need to focus on your marketing and branding strategies.

Having said that, let’s dive right into how you can transform your brewing dream into a reality.

Training And Education

Once you’ve decided to set up your own craft brewery, you should know that there is a lot to learn to make it a successful venture. If you have time and resources to take a formal training course, you must always go for it to learn everything about your would-be business. Experts recommend that even seasoned brewers should spend a considerable amount of time working in a commercial brewery.

With cleaning, sterilizing, and other tedious tasks, you can learn about the business and operations of a busy brewery. You can put those skills to use in your own craft brewery.

Besides, you can also invest in simple equipment to help run your brewery more efficiently. For example, you can get a simple money counter to keep track of all your sales. You can visit find out all here – the equipment that can help run your brewery efficiently.

Consider The Startup Cost

You’ll be surprised to know that many brewers admit that they ended up paying twice the amount of money they estimated while launching their business. Unfortunately, unaccounted expenses put a huge strain on the financial situation of the owners. From the number of barrels to storage equipment, you need to estimate literally everything for your craft brewery business.

Depending on the size of your brewing business, make sure you account for everything before drafting the budget for the company. To achieve this, you need to prepare a list of equipment and services you need for your business to draft a rough budget. For instance, you should know that you need specific hardware like hygienic butterfly valves fabricated from stainless steel for flash freezing or cryogenic preservation of beer. Additionally, you also need utilities, building materials, supplies, furniture, and software services to commence your business.

Find a  Distributor

You can turn your craft beer into a global brand, breaking the conventional barriers of micro-breweries. For this you can create a distributor network around your brewery. To take your brewing business to a whole new level, you would need to know about the three-tiered alcohol distribution system.

The three parts include the manufacturers (you), distributors, and retailers. You sell your beer to the wholesale distributors who further sell it to the retailers. These retailers then take your beer to the ultimate consumer. Although the beer distribution laws are different in every state, make sure that you are well-versed with the beer distribution laws before you set up a distribution channel.

Final words

Apart from this, you need to get your crafts brewery business registered as per the US laws and regulations. Make sure you have the necessary permits according to the local laws. So, now that you have the finances, equipment, and a business plan, what else are you waiting to commence your brewing business?

How Utilities Can Strategize Successful Energy Management In A Crisis

Like all other industry verticals, utility companies have also borne the brunt of the pandemic. Even public utility providers are going through challenging times. The collapse in industrial and commercial activities is the biggest concern for them as it has led to a decrease in demand. Even as things are slowly inching towards the better, the new normal will entail lower energy demand as commercial establishments are still far from becoming fully operational.

Energy companies need to take an agile approach and bring new strategies to align with the current circumstances. It is the only way they can survive and stay profitable amid the crisis.  Here are strategies that can help them with successful energy management in the new normal.

Increased focus on stakeholders and customers

At this point, energy companies need to prioritize all stakeholders instead of only their shareholders. Going the extra mile with customer experience is the key to long-term retention, even more during a crisis of this magnitude. Right now, utility providers will need to understand what drives consumers. They must pay extra attention, specifically the high-value commercial and industrial clients, because they are the mainstay of the business. Utility companies also have to realign the delivery and billing models according to the evolving needs of the consumers. The idea is to make things easier for consumers as they struggle with the challenges brought by the pandemic.

Technology is the game-changer

Even before the pandemic, the utility industry was taking steps to embrace innovation by implementing the latest technology solutions. But now, there is a need to accelerate the initiative if they expect to stay in the race. Lower demand means higher competition in the landscape, so only a company with top-notch offerings will survive. Solutions like outage management systems for quick detection of power outages and early resolution are a must-have to retain customers. Additionally, utilities need to innovate with features such as smart meters and cybersecurity to enhance the level of customer experience. 

Sustainability is a key differentiator

The utility sector has witnessed a growing inclination towards sustainability in the last few years. Consumers are conscious about energy savings and carbon footprint, and utilities need to keep pace with the mindset to stay relevant. Sustainability has become even more significant in the pandemic era because everyone wants to do their bit for the environment. Utility companies can seek collaboration from customers for implementing and managing distributed energy resources. The initiative will bring reliability and resilience in operations and support the green mindset as well. It will be a win-win measure for all!

Many energy companies have already transformed their core operations to operate in tandem with the evolving consumer needs and government regulations. However, it is not enough to align with the after-effects of the pandemic. There is a need to enhance customer experience and optimize cost structure to deal with the period of low demand. The idea is to stay afloat during the crisis and be strong enough to make a comeback once things get back to usual.

Businesses That Need Professional Liability Insurance

Owning and running a business is rewarding, but it can often be challenging. A particularly complex aspect is understanding all the rules, regulations, and compliance elements involved. Even if you are an experienced professional and know your area, some things can go unnoticed until it is too late.

Companies in all industries face risks. If something goes wrong, a dissatisfied customer can cost you. Therefore, in addition to the certificates and licenses required for many businesses, it’s also essential to have adequate insurance coverage to avoid potential legal implications.

Certifications, Licenses, and Insurance Types

Certifications are recognized credentials of the skills of a professional, awarded by additional training in important areas. They are the best way to show that you understand your industry and your company is in good hands. In addition, most businesses require some certification to operate. For instance, restaurants are often required to maintain different food safety certifications.

Another component to consider is a license from both federal and state agencies. This document is essential for several areas: bars and pubs often need liquor licenses to sell beer or wine; businesses involving agriculture need licenses to import or transport animals, animal products, or plants across the state line, etc. Some licenses expire after a set period of time, requiring business owners to be aware of renewal deadlines.

Finally, one of the most critical and often overlooked requirements is insurance. Small businesses in all sectors need different insurance coverage not only to comply with the law but mainly to protect themselves from liability and possible lawsuits.

What is Professional Liability Insurance?

The essential insurance coverage for business owners is professional liability insurance. Even with all the technical knowledge, training, certifications, and licenses, sometimes you may be questioned by customers regarding the service you were hired to provide. Complaints can be due to late, incomplete, or unsatisfactory work, or clients can claim that your negligence costs them additional money, and the case may end in court.

Also known as “errors and omissions insurance,” professional liability insurance exists precisely to protect professionals from liability claimed by clients. This includes:

  • Negligence – failure to take proper care over the service you were hired to do,
  • Malpractice – improper or negligent professional behavior, and
  • Misrepresentation – giving a false or misleading account of the nature of your service.

What is Covered by Professional Liability Insurance?

In practical terms, having professional liability insurance can help cover expenses with:

  • Work errors
  • Undelivered or incomplete services
  • Missed deadlines
  • Budget overruns
  • Breach of contract

Suppose a customer sues your company for any of these causes. In that case, professional liability insurance can help with the lawyer fees, judicial and administrative expenses, and other costs associated with agreements and judgments.

What Isn’t Covered by Professional Liability Insurance?

While it is beneficial in cases where you are sued for making a mistake, professional liability insurance doesn’t cover everything. That is, you will still need to hire other insurance policies to protect yourself from other claims.

For example, for bodily injury or property damage, you need to have a general liability insurance policy. It helps cover the costs of legal action if someone gets hurt on your company’s premises or you damage someone else’s property while providing a service.

If your business has employees, workers’ compensation insurance is mandatory by law in most states to help cover cases of work-related injuries or illnesses (if your employees get injured or become ill due to the work they perform at your company).

Which Businesses Should Consider Professional Liability Insurance?

Who needs professional liability insurance? The simplest answer is most professionals. Every small business that provides professional services or advice directly to clients should consider having this policy; some clients even demand it when signing a contract.

Some professionals who should consider professional liability insurance are:

  • Real estate agents or brokers
  • Attorneys
  • Engineers
  • Architects
  • Auditors and consultants
  • Counselors
  • Accountants

The Importance of Being Insured

Running a business can be challenging. Professional liability insurance can make your life much easier. An architect can make a slight miscalculation; a product supplier can miss a deadline; an accountant can have a tax report questioned by a client. Claims of this kind can lead to costly lawsuits, which can even ruin your company if you have to pay out of pocket.

In such circumstances, the experts from Interchange Pros recommend going for B2B credit card processing that helps to protect your brand image in the market while saving your money to a considerable extent.

As a business owner, you must understand the risks associated with the profession you have chosen and hire the insurance coverage necessary to protect you and your business from the costs of negligence-related lawsuits.

Clients feel more comfortable doing business with someone properly insured, as this is a guarantee that they will be adequately compensated if any problem has to be resolved in court. Therefore, it’s a win-win situation in which everyone will feel safer.

Want To Go For Entrepreneurship In The US While Working? Read This First


After being in the United States for all these years, you may have grown pretty used to the life it offers. By now, we are guessing you may be feeling pretty confident in your working boots to handle your work responsibilities quite well. But, it could be possible that after being in the same role for such a long while, you may be losing the spark of a new challenge.

Firstly, is it even possible?

The answer to this question is yes. According to statistical data, about 30 percent of all small business owners in the United States are immigrants. Also, about 55 percent of the country’s total one billion dollar startup companies have at least one immigrant founder. It was found that immigrants or their children founded more than 40 percent of the companies on 2017’s Fortune 500 List.

Secondly, is it easy?

Though the numbers may seem to give off the idea that accomplishing such business goals is possible, unquestionably, they come with their share of a few considerable challenges. This article is just for you if you are looking for an opportunity to respond to your entrepreneurship call.

What should you do?

Before doing anything else on this particular project, you must acquaint yourself with a set of rules you will have to follow because of the change in your immigration status. If you are already working in the United States, you must have a working visa like the H-1B Or L-Visa. And if you wish to own a business of your own in the country, you must need a Green Card or permanent residentship of the US. It will let you permanently live in the country and let you enjoy voting and medical benefits. Just not that; it will also protect you from deportation under federal laws. You must focus on this if you want to run a business in the nation without fearing any hassle in the long term.

Are there any other benefits?

Oh, yes! A green card or a permanent resident card gives you the official immigration status in the county. It is considered the fastest path to having a better life for your family and yourself. With this, you can be entitled to health, education, and employment benefits. It is a crucial step if you want to naturalize as a United States citizen shortly. And once issued, you can enjoy its validity for a whole decade. Not just that, after it expires, you can renew it to continue living as before.

Who can all apply?

If you are still reading this article, then we think that you may be questioning yourself for applying. And the answer is a big yes but with conditions used! Many employment-based visas allow an immigrant to start their commercial entities in the USA. But apart from that, there is another way, which can also help you find your solid footing in the States, a green card lottery program. As per the mention at https://usa-green-card.com/, the applications are being accepted with a fast and easy registration process. The US government awards 55,000 green cards through the diversity visa program every year.

What after that?

After winning the lottery, you apply for a change of immigrant status. In this case, the application and the approval are overseen and processed by US Citizenship and Immigration Services. You would be required to complete form I-485 and pay a diversity fee along with that. The process is relatively smooth for people who do not have any criminal records or fulfill other eligibility criteria. Post these processes, and you will have to go through the initial screen procedures as per protocol further.

Choice of Business

After you are all done with your new immigration processes, you will need to figure out your business idea. It is better to do the recce along as the market study side by side will give you the time to come up with something truly unique. As the United States is a cosmopolitan country, having a business that caters to people of all communities and religions will be very useful.

The Takeaway

On top of that, settling a business from scratch and seeing its boom comes with time.

While it may be pretty easy for a person who has US citizenship, the journey may not be as smooth for you as an immigrant. After checking out all requirements, you would be required to undergo several processes to qualify for all the next steps. Once the change in your immigration process is complete, your life will change forever for the better. We wish you all the very best of luck in your future.