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Nepali People starting enterprise in the United States; some lessons to learn

Sanubabu Silwal: United States is a country with opportunities. In other words, we all are aware that United States is a country where we can use economic independence. If we have strong will-power running business is not impossible here. There are many Nepalis, who have worked for other for years but some have made their own reputation by doing some enterprise. Lack of finance for running some enterprise is the sad part of the story. I am trying to incorporate some inspirations which they need if they want to run business and they have skill and knowledge about it but they failed to run such enterprises due to lack of financial resources.

Although there are many advantages for becoming the owner of own enterprises there are many challenges as well. It is almost impossible to be rich while working for others but there is risk that the money which we have earned through hard work may be lost. So, various issues need to be considered for this. One should be sensitive towards which type of business we want to run and in which sector we can invest for getting return in a short term. If enterprise is run related to our work we can have knowledge about the issue. However to be an entrepreneur you should have courage to take risk.

Strong will-power for running enterprise, consultation with family and their consent followed by selection of enterprise, search of enterprise and selection of location are some of the key aspects for running enterprise. If enterprise is selected blindly it may not be sustainable, so, proper information should be received while running enterprise. One should consult friends and some seniors about running the enterprise. Lawyer should be consulted for finalizing all legal issues.

If there is not proper information about language and necessary legal procedures there is a risk of being failure. There are many obstacles for registration of company and getting different certificates, so, you should get other’s assistance to remove such difficulties. After starting the business following legal procedures and management of financial issues are some crucial factors. One should develop the tendency of not to get panic when there is some problem and should not be overwhelmed when you are in good position.

The law of the country, discount to small enterprises and securities are some positive aspects of America. Another good thing in America is the respect to all work and profession. There is no matter what job you are doing for your livelihoods, provided that you should not engage in illegal activities. People do not have time to take care to others and gossip about others. You can start some venture by borrowing money with others but it is difficult to expect such cooperation from others.

However you should have legal basis for doing business in the United States. Without having legal basis it would not be possible to register the company and receive certificates from government and private sector for running enterprise. After making legal basis, one needs to be in the financial discipline as any organization can check whether the credit is being paid on time or not. If all outstanding bills are paid on time and has clean background, the financial institutions may invest on such ventures. There are many Nepalis, who have been running enterprises on credit.

However Nepali people have only access to small ventures like Gas Station, Grocery Store, Travel Agency, Legal Services, Construction Companies, Restaurants, import and export and retail business among others. With the increment of Nepali population, many Nepali are involved in different enterprises. The involvement of Nepali people in different enterprise is a positive thing. There is a need to institutionalize the resources and knowledge for the benefit of Nepali people. The positive development from the investment of Nepali people could be connected to the economic prosperity of Nepal.

Many Nepali people have been running enterprises in different states of the United States so there is a need to identify them and keep the statistics and identify the challenges and problems faced by them so that these problems could be resolved collectively. If it is done the attraction of new generation could be drawn to this sector. The common platform of American entrepreneurs of Nepali Origin has been actively working in this sector.

(The writer is the vice-chairperson of America-Nepal entrepreneurs Association and only the Nepali Institutional Member of American Chambers of Commerce.)

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Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point
Information for Indian tourists travelling by land:- 72 hours (-) C-19 report, CCMC form and Antigen Test at entry point