Business Plans
#1
Forum Regular
Thread Starter
Joined: Mar 2008
Posts: 35
Business Plans
Hello,
Would like to know if anyone knows about Business Plans and raising finance.
Want to know if it works the same in the USA as in the UK, do we have to produce a business plan to get finance?
Hubby will be an L1 and I will be on an L2.
Thanks
Would like to know if anyone knows about Business Plans and raising finance.
Want to know if it works the same in the USA as in the UK, do we have to produce a business plan to get finance?
Hubby will be an L1 and I will be on an L2.
Thanks
#2
Homebody
Joined: Jan 2005
Location: HOME
Posts: 23,181
Re: Business Plans
Raising finance from where?
What is your credit score/history in the US like?
As you'll be on non-immigrant visas, I can't quite see this happening.
#4
Re: Business Plans
For my first business, I did have to present a business plan to the bank. Among other things. :curse: But, that was a long time ago and I wasn't very old.
It's quite common to self finance small business here.. what are you looking to do?
#5
Re: Business Plans
We always filed taxes for the business from Day 1 also, so it's on record as being a business with income and expenses from the time he got his work authorization.
What kind of business are you planning to do?
Rene
#6
Re: Business Plans
My alien husband is self-employed with his own small business. He's sole proprietor, he has no employees. All it took for him to start his business was to get his work authorization and start pounding the pavement for clients. Eventually he got his business name registered (no business license is required in Arizona). Once he had a business name established and got a tax ID number for it, he opened business accounts at the bank where he already had a personal account. This was about 2 years after he came to the USA, so he already had credit established. He got a business checking account, business credit card, and business line of credit. He never had to show a business plan to anyone.
We always filed taxes for the business from Day 1 also, so it's on record as being a business with income and expenses from the time he got his work authorization.
What kind of business are you planning to do?
Rene
We always filed taxes for the business from Day 1 also, so it's on record as being a business with income and expenses from the time he got his work authorization.
What kind of business are you planning to do?
Rene
Rene
#7
Account Closed
Joined: Mar 2004
Posts: 2
Re: Business Plans
You will need a Business Plan.
You could start with SBA, I have a few other links but I have no idea whether they would be relevant.
You could start with SBA, I have a few other links but I have no idea whether they would be relevant.
#8
Re: Business Plans
As others have said many self-finance to get started. I've heard of gathering funds from those around you - referred to as FFF financing. (Friends, Family, and Fools)
#9
Re: Business Plans
The answer to each of those will dictate the requirements.