This source brings more than money as well, it creates income that sets you free.
A study in "USA Today" showed that for 46 million Americans that independence is the main reason most had for starting their own business, not cash!
Independence was by far more important than wealth! Investors can enhance their financial well-being with their own energy by turning their investments into real international businesses.
Today increased freedom and job security are the most important reasons why people have their own businesses. This makes enormous sense for anyone, doctors, dentists, accountants, attorneys, investors as well as businessmen. Every profession in the U.S. today is demanding and vulnerable to flawed tort misuse and onerous government interference.
Anyone can gain increased independence with a full or part time business which generates increased income beyond the U.S. legal and tax jurisdiction.
Having your own business gives enormous security. Owners never get fired, made redundant, downsized, laid off, shifted sideways or forced to retire unless they decide to quit working. The owner of a business is always the last to go. Owning a business seems the ultimate job security.
But today having an international business is the ultimate form of security and freedom. Global businesses are safer from lawsuits, government red tape, excessive taxation and local economic recessions.
International businesses make more sense because modern technology, computers, global cell phones, low cost transportation andthe internet make international business easier than ever before.
The tax benefits and asset protection benefits for international business enhance freedom. Numerous areas of tax legislation offer special tax savings for businesses abroad. For example by establishing a Foreign Sales Company, a U.S. company that exports manufactured goods having at least 50% U.S. content can usually achieve a permanent tax exemption for a portion of its import profits. Another area of the Tax Code (IRC, section 957 (a) of Subpart F) allows profits made abroad with genuine non U.S. shareholders to remain totally beyond IRS jurisdiction. (A link to last week's message that covers this is below.)
Holding assets outside one's own jurisdiction also gives a business enormous legal and practical asset protection.
International business is also the ultimate area of growth and security. We have learned that the stock market is not a guaranteed way to secure one's wealth.
Today it is possible for anyone to have at least a part time international business. The secret is simply to start, but to start slowly and gain experience with a part international business before making a major commitment into a full time international business.
The most important key is to start the business doing something you enjoy. Turn your passions to profits. For example, if you love to golf, consider organizing golf tours around the world. Or perhaps, you should market a calendar with 12 famous overseas golf courses. The list of ideas could go on and on, but the point is you will turn pleasurable activity (to do a golf tour or a calendar, you obviously have to play those courses) into a tax deductible expense and hopefully, makes some profit as well. Here are three simple steps, you can use to prepare for your international business.
* Step #1: Become Informed. Read international magazines and papers. Two good places to start learning what's happening abroad are the Financial Times (England's leading global economic newspaper) http://news.ft.com/business/specials and The Economist, (England's best weekly international news magazine) http://economist.com/
* Step #2: Get ready. Contact international banks and learn the benefits of holding assets and how to do your banking abroad. An international bank with great experience in serving American businesses is Jyske Bank. FISCHER@jyskebank.dk
* Step #3: Get started in a small way. Too many people think that big is better. Perhaps for some, but not when they start. It is imperative that one makes their mistakes (and we all will) while we are small. Mistakes when we are big are called Enron!
To help you get started, I will be sending you a FREE report in several segments on how to get started, raise original finance and contact potential clients all over the world.
You will find the financing information especially important because venture capital is almost dead. Today it is very difficult to borrow money for business ideas. Even SBIC small business loans are hard to attain now. The government only guarantees 75% of the loan and make banks fill in so much red tape that they are not profitable. So part of this report is about how to raise capital if you need it.
The report also reviews how to find customers in other countries. This is the most exciting part because these clients can bring you more freedom and independence than you might have ever guessed.
Watch for Lesson #2 next Thursday, April 24, 2003.
You can increase profits, enhance security and have extra tax and asset protection. Turn your passions into profit. Start your own international business now!
Until then, may all your business be good.
Gary
Advertisement
Crossroads and mobile wealth. An investment and business opportunity. We previously shared ideas about crossroads. The point? Look beyond coincidence and act. See below how crossroads create a new opportunity now. http://www.garyascott.com/archives/2002/11/26
Merrily Farm Notes
We are ordering chicks, ducklings and geese this week, plus are bulking up our flock with six more layers. We cannot wait to get back to having just laid fresh, free range eggs which we also add to delegates who stay with us on the farm.