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Hey gang,

I am 39 years old and wound up in an arranged marriage. I am Indian and looking to be an entrepreneur. Live in Texas, USA.
 

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Hello!

A few questions, sorry if they seem prying!
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The marriage is arranged, OK.

Are your mental relations with your husband arranged or un-arranged, as in clashing and unpleasant?

Does your chemistry mix well with his? Does the heat of your collective reaction remain cool?

Two people can marry, wear each others rings, but not necessarily work well together.

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What sort of operation, business are you interested in?

The U.S. is great place for doing this.

Stay away from big cities run by liberals.
The rules and regulations, fees, zoning laws and bureaucracies that must be negotiated and sorted out are prohibitive.

Location is usually very important. Are you going to become a sole proprietorship?

Are you going to go into business on your own, or with your husband, or with other family members?
This seems to be a common thing with Indians. And it often works out well.

The only issue with starting and running your own business is not having much free time. You are forever tied down.
And vacations are hard to setup.

You may want to go to business school first.
You need to know a lot about accounting and basic business practices.

The types of businesses are:

Sole Proprietorship. These are unlimited liability types and can be good for a single owner. One person is responsible for all profits and losses and managing.

Partnerships. Two or more individuals are responsible for running the business.

General Partnerships are where are profits, losses and debts are shared equally.

Limited Liability Partnerships are were one person manages all aspects of the business and often takes in the most profit. Other partners are investors and have no say in how the business is run. They share some of the profits.

Non Profit A business that is non profit designated. All profits must be fed back into the company as expenses, other costs.

Limited Liability Company (LLC) This is a hybrid form of business. All partners can limit their personal assets and enjoy certain tax advantages. LLC members can protect their own assets from losses and many lawsuits while enjoying flexible tax advantages.

Cooperatives Businesses This is a type business where all members of the business share in the profits. The members are the shareholders.

Corporation This is a more complicated type of structured business. The corporation is an entity unto itself. It members work for the corporation. The corporation can have shareholders who buy its common or preferred shares or (bonds as debt the corporation is required to repay with added interest).

When you set up your business get a lawyer to legally set it up. And, get an accountant to help you get started. There are many computer accounting software packages that make running it easier.

**Plus, there are small companies that will do your payroll, Social Security payments, debit/credit balance sheets, local taxes, state and federal government deductions, everything for you.

You supply the data that they request and they can help in keeping your business solvent.

And these companies will do this for less money than you suspect.


Who are these companies? They advertise on the radio and TV.

Do your homework, ask around.
 
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