As the 2024 U.S. presidential election approaches, small business owners and entrepreneurs are closely examining the economic policies of the candidates. Our previous blog discusses opportunities under a potential Trump presidency. This blog analyzes opportunities under a potential Harris presidency, specifically for those looking to establish or expand their businesses in the United States.
Support for Entrepreneurs and Small Businesses
Vice President Kamala Harris has consistently emphasized the importance of small businesses to the American economy. She has proposed a significant increase in the small business startup tax deduction aiming to cover the average cost of starting a new business, providing substantial financial relief to entrepreneurs.
Additionally, Harris has set an ambitious goal of 25 million new small business applications during her first term, reflecting her commitment to fostering entrepreneurial growth.
Implications for Immigrant Entrepreneurs
For entrepreneurs and small business owners considering immigration to the U.S., these proposed policies present a favorable environment. The increased tax deduction can alleviate initial financial burdens, making the U.S. an attractive destination for launching or expanding businesses.
Why the U.S. is Ideal for Entrepreneurs
The United States has long been recognized as a global leader in supporting entrepreneurship and business growth. With a robust economy, access to diverse markets, and a culture that encourages innovation, the U.S. provides unparalleled opportunities for business success.
Final Thoughts
A potential Harris presidency could usher in policies that significantly benefit small business owners and entrepreneurs, particularly those looking to establish themselves in the U.S. The proposed tax breaks and support initiatives underscore a commitment to fostering a thriving entrepreneurial ecosystem.
If you’re an entrepreneur or small business owner considering immigration to the United States, now is an opportune time to explore your options. Our team specializes in assisting clients with establishing startups or expanding existing businesses in the U.S. Contact us today to learn how we can support your entrepreneurial path in a country that champions growth and innovation.
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The information provided in this blog is intended solely for informational purposes. While we strive to offer accurate and up-to-date content, it should not be considered legal advice. Immigration laws and regulations are subject to change, and individual circumstances can vary widely. For personalized guidance and legal advice regarding your specific immigration situation, we strongly recommend consulting with a qualified immigration attorney who can provide you with tailored assistance and ensure compliance with current laws and regulations.
Visa Business Plans is led by Marco Scanu, a certified coach from the University of Miami with a globally-based practice coaching Fortune 1000 company executives, entrepreneurs, as well as professionals in four different continents. Mr. Scanu advises clients on turnaround strategies and crisis management.
Mr. Scanu received a bachelor’s degree in Business Administration (Cum Laude) from the University of Florida and an MBA in Management from Bocconi University in Milan, Italy. Mr. Scanu was also a Visiting Scholar at Michigan State University under the prestigious H. Humphrey Fellowship (Fulbright program) with a focus on Entrepreneurship, Venture Capital, and high-growth enterprises.
At present, Mr. Scanu is the managing partner and CEO at Visa Business Plans, a Miami-based boutique consulting firm providing attorneys and investors with business planning services in the areas of U.S. and Canadian immigration, SBA loans, and others.
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