While many business owners are savvy enough to select the proper entity on their own, many do not understand the difference between trade names and trademarks. Others accidentally give the rights to their logos and other commissioned artwork to their graphic artist and the content of their website to their web host.  Some will think they can choose whether a worker is a contractor or an employee.  A good business attorney can address these issues on the front end, and save much expense and aggravation later.

Likewise, a good certified public accountant isn’t just a number cruncher — he or she is a trusted advisor who understands your business and today’s economic climate.  CPAs evaluate business ideas, plan for growth, minimize taxes, monitor cash flow and help keep proper financial records.  Poorly set up books can make it impossible for companies to track costs, make profits and attract financing.

Those of us that work with startups are familiar with the intersection of  providing value and penny-pinching, and can often work with the bootstrapped entrepreneur on how the services are provided and paid for.

Related articles

• Moving beyond the kitchen table (csmonitor.com)
• Bootstrapping Mistakes You Can Easily Avoid (startupbiz.wordpress.com)
• How to Get Good At Making Money (inc.com)
• About Starting a Small Business (thinkup.waldenu.edu)

Here is what Fortune said:

To hear local entrepreneurs tell it, Durham is putting the D in diversity. Once known for tobacco and textiles, today it’s part of The Research Triangle, the world’s largest research and development center. The city is home to an array of high-tech, medical and financial services companies, as well as federal agencies and educational institutions.

The locals are a highly educated bunch: Duke University, North Carolina Central University and Durham Technical Community College employ and train area residents. Business support organizations like the Institute for Minority Economic Development and the Women’s Business Center offer the resources entrepreneurs need to thrive.

The city’s strong sense of community helps its assorted enterprises and individuals come together. It’s the kind of place where businesses embrace struggling local schools by donating supplies, volunteering classroom speakers and hosting field trips.

Living, business and construction costs remain low compared to national averages. Another local perk: Durham offers plenty of ways to unwind after a hard day’s work, from kayaking and hiking to performance art and gallery tours.

I’d love to hear from people who have started in Durham and in other places. What has the Bull City experience been like?

L-1 nonimmigrant visas are utilized by U.S. corporations to temporarily employ (up to 5 or 7 years depending on type) certain foreign workers employed by the company’s foreign parent, affiliate, subsidiary or branch office. The L-1 visa is broken into two eligibility categories: (1) international managers and executives, and (2) specialized knowledge employees.

How is an L-1A visa utilized by entrepreneurs?

The “new office” L-1A visa is utilized by foreign companies opening U.S. affiliate, subsidiary, or branch offices to transfer key executives to run the new U.S. offices. This L-1A visa was perfect for this purpose because it required less of an initial investment than would be required for a treaty investor’s visa (E-2).

Why might the L-1A no longer be the “entrepreneur’s best friend?”

Generally, to be eligible for an L-1A visa, the U.S. operation must have been in operation for at least one year. The “new office” exception exists to this general rule so that the L-1A can be utilized for the opening of new U.S operations. At the end of this first year of operation, the company must prove that the U.S. operations are “active and operating.”

Proving that the U.S. operations are “active and operating” to the satisfaction of USCIS is now more difficult than ever. This is generally proven by evidence of extensive clientele, growth in income, hiring additional employees, etc. And, here is where the issue lies. Over the past year, considering the financial difficulties being faced by small companies nation-wide, very few companies could prove growth in clientele, income, or employees.

Are the “new office” L-1 visas still useful?

The L-1 visas are incredibly advantageous to the U.S. because they are used by foreign corporations to open and operate business in the U.S. This generally leads to tax revenue, employment, and increased profits for related industries.

The “new office” L-1 visa is still advantageous to the entrepreneur, even if meeting USCIS’ stringent requirements for extension is difficult. As the economy improves, the “new office” L-1 will likely be the entrepreneurs best friend again!

For more information on this or any other type of nonimmigrant visa, please conact our office.