By Michael Monnot – www.InfinityBusinessBrokers.com
There are many industries that take an enormous amount of energy and drive from a business owner if the business is to be successful – but sometimes there is a limit to how much energy and drive a business owner can muster, especially over a long period of time. If you own a business that qualifies you for the E2 Visa and you feel like you are at the end of your rope, you should know that there are options available.
If you are ready to get rid your business and move on, but not yet ready to leave the United States, one option might be to find a new business to buy in a different industry and sell the one you currently own.
You will need to speak with your immigration attorney about the timing of such a switch, but buying another business that qualifies for the E2 is one way of staying in the U.S., or even staying in your current local area. Since you’ve already been through the E2 Visa process once before, you know that not all businesses will qualify for the E2, but many do.
You will need to speak with your business broker about why you feel burned out and if your goals for business ownership have changed, as this information will be pivotal in determining what businesses to look for. Ask yourself why you’ve reached a point where you are considering moving on from your business.
Do you work too many hours?
Is the work itself too intense or too much physical labor?
Are there things about your business that continually frustrate you to the point of wanting out?
Depending on the issue at hand, you may be able to resolve your frustrations by hiring additional help, by rearranging the duties and responsibilities of yourself and your staff or by delegating parts of your business to outside vendors. Speak with your immigration attorney and business broker before you make any fundamental changes to the business that might affect your E2 status for the next time you need to renew.
If none of the above solutions will solve your issue, then begin your new business search by talking with your business broker about your goals for business ownership, the amount of capital you would like to invest in a new business, about your passions, dream business opportunities and about your work experience. All of these pieces combined will give your broker a good idea of the type of business that would fit the bill.
If you feel like you’ve had enough of your current E2 business, look at your options before you throw in the towel. Speak to your immigration attorney and business broker about your choices today.
Do you have questions about the options available to business owners with E2 status? Are you curious about what kinds of businesses would be available? Ask us! Please feel free to leave any comments or questions here, and we would be happy to help.
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