Dispelling a Myth

cash blended
dispelling a myth

yahoo answers

Maybe not everyone has heard the news. The American government offers seven year tax holidays to any immigrant wanting to start a business.

If this is believable, there is also some beautiful swamp land for sale somewhere.

For the answers given online to this question, click here for Yahoo.

Snopes posits a similar claim and gives its answer.

Snopes

For their full explanation and comments online, click here for Snopes.

Starting a business of any size in America requires capital, regardless of whether a person is a foreign-born or native-born citizen, and entrepreneurs who are serious will find a way.

A good idea for a business remains only an idea as long as the one with the concept does nothing to bring it to the marketplace. Specific training in business may be helpful, but when a deficiency of understanding in regard to starting or operating a business persists, asking questions of experts willing to help may prove even more efficacious.

The difference between someone with a good idea and someone who makes a good idea work is obviously that little word “work.”

Rohit Arora, an entrepreneur who used to work at Deloitte Consulting in New York City, founded Biz2Credit with his brother, Ramit. The initial need he wanted to fill was helping South Asian and Indian entrepreneurs secure capital for their small business ventures. The Biz2Credit platform now serves both immigrant and native entrepreneurs alike.

Arora says that it’s better to bootstrap a business around a personal skill and build from there.

A lot of people only want to start once they have raised funds, Arora says.
That says something to lenders.

Arora says it sends the message that the person isn’t willing to ‘dirty their hands’ and do the hard work necessary to truly be successful.

“You need to know what you need the money for,” Arora said.

Operating from an informed position is never a foolish choice. If a person has put in the time to understand his or her business and has shown that he or she can take the initiative to get the business moving, lenders might be more inclined to offer funding.

Arora says he has not seen anyone succeed as an entrepreneur without two things: self-belief and passion.

So, this expert in the field of small business finance urges entrepreneurs to bootstrap their businesses.

Rohit continues below in a video “produced” by Biz2Credit and Yodlee Interactive. In 2014, the two companies began to complement each other’s operations.

Rohit says, “Cash flow is the life line and the blood line of any small business.”

Read More >>> about the origins of capital in startups for non-immigrant and immigrant entrepreneurs.

written by: Alan Soltys, aka “wertzgroup”

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