WASHINGTON, June 7, 2013 — Starting a business comes with a lower cost of entry than ever before. Nevertheless, there are upfront costs and risks associated with any enterprise—especially a new and unproven one. These costs and risks are often unavoidable, but they can be mitigated with the right planning and strategy execution.
One such mitigation strategy is that of employing offshore talent. In recent years, the topic of using foreign talent to build and grow American-owned companies has been at the center of a heated debate.
Proponents of the idea maintain that hiring offshore talent controls cost and makes American companies better able to compete with international concerns within their market segments. Meanwhile, those who oppose this notion often view companies that overlook American talent to hire from abroad as unpatriotic and guilty of cheating the American public.
While this issue generally boils down to economics, larger companies can typically afford to source talent either domestically or internationally and still remain profitable. The situation is very different, however, for many small businesses.
Especially in the beginning, most small companies and startups are bootstrapped by their founder or founders. These founders may spend months and typically spend years funding their burgeoning company with their own personal incomes, savings, retirement accounts and access to credit.
While huge corporations pioneered the practice of hiring workers from overseas, the tech industry and small business space have created a veritable revolution around this practice. Large companies have traditionally gone offshore in search of large pools of labor workers. The tech and small business sectors, however, employ overseas workers for a number of highly skilled and even strategic roles ranging from executive assistants and web designers to medical advisors and marketers.
There is another benefit to offshore talent acquisition beyond mere price. Companies that are looking to capitalize on a multi-national market would be wise to have one or more professionals who intimately understand that market on their team. Abbas Hashimi, founder of Green Card Capital of New York, agrees.
“I believe when you want expand internationally you need to have true global partners or local alliances who understand the market and are accustomed to compliance, market space and customer expectations,” said Hashimi in an interview with Investment Underground. His company, Green Card Capital, is a New York-based financial startup that provides long-term capital growth opportunities to international investors seeking a U.S. Green Card for permanent residency and U.S. citizenship. Following the guidelines of the U.S. Government’s EB-5 visa program Hashimi and his company are able to help individuals who would like to transition into the U.S. to do so smoothly and easily.
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