One of the most common mistakes we've seen in E2 visa business plans is unrealistic financial projections. This can include forecasting a revenue level that is completely disconnected from reality or using wrong ratios, tax rates, or depreciation periods. To avoid these errors, it's important to base your figures on a recognized source and ensure they are consistent. Dun & Bradstreet or Ibis World are good sources for industry average figures.
Consular officers have little time to review each E2 visa business plan, so it's crucial to make things easier for them with readable and understandable tables. Include an initial financing table, calculation of the break-even point, sales projections, projection of the number of employees and related expenses, income statement, and balance sheet. While you can be a little creative with the first two tables, the last two should be standard and follow accounting balances.
Each E2 visa business plan should be unique, even if the business is similar to others. Avoid using templates or copying and pasting from other plans. For example, we've seen a business plan for a pizza shop that suddenly starts talking about the car rental market in the middle of a paragraph. This kind of error can be a red flag for consular officers reviewing your plan.
While the content is more important than the form, formal errors can still impact the credibility of your E2 visa business plan. Avoid using humor or irony and maintain a dynamic and professional tone throughout the plan.
Avoiding these common mistakes in your E2 visa business plan can greatly increase your chances of approval. At [Your Business Name], our experts have been writing successful E2 visa business plans since 2010. Contact us today to get started on your customized business plan.
Sylvain Perret is a business professional who has been living in the United States since 2010. Along with his wife Daphnee, he has established several businesses in the country, including Integrity International Brokers, an agency based in Orlando where he works as a business broker, real estate broker, business consultant, and business plan writer. Over the years, he has helped numerous clients from around the world achieve success in their projects to create or take over a company in the United States with an E2 visa. He is highly knowledgeable about U.S. immigration issues and is the author of the book "S'expatrier aux USA grâce aux visas d'entrepreneurs," which is soon to be translated into English. Sylvain is also a Certified Business Intermediary (CBI) by the International Business Brokers Association and is regularly consulted on issues related to this field. At the age of 50, Sylvain chose to enhance his expertise in finance and strategy by pursuing a Master of Business Administration from the University of Central Florida. He successfully graduated in May 2023, adding a valuable finishing touch to his knowledge. He is active on LinkedIn and Twitter, where he shares his insights and experiences with a wider audience.
Last Updated on March 5, 2023 by Sylvain Perret