No one can build or run a company through management meetings or power point presentations. Lot of efforts, experimentation and project execution in structured manner goes into it and one should know how to control cost vs. revenue.
As mentioned by Mike Clough in his article "America’s best business practices", between 80-90% of all companies in North America are family owned businesses and they account for approximately 60% of all employment, 78% of all new jobs and 65% of all wages. By 2050, the primary owners of most of these companies will be retired or dead. Up to 42% have not yet chosen a successor. Many of these owners probably are wondering (or should be), “Will the kids be able to run the business?”
US government has rolled out plans to encourage entrepreneurs and hopefully will bring positive results for the family owned businesses.
Another set of entrepreneurs in US are more into the IT sector and this is the most vibrant business community. Almost all business owners of IT companies are below 30/35 of age and have very clear vision about their growth plans and their company road map. They are certainly not family owned companies/businesses. This community is multi-tasker, quick decision makers and knows how to protect the bottom-line of their business. These are the IT companies who used to hire highly skilled resources on H1B visa in past couple of years to work on their projects. Initially, it has been used as “cost saving method” however over a period of time, business owners realized that there is no other way they can get highly skilled resources as a powerful leverage for their project success. This again is specific to software development projects.
Recent news is that US government is increasing H1B fees from $2500 to $4000 or may be higher. This move will certainly have negative impact on H1B visa seekers and will also affect the creamy layer of software companies and project providers. Other side of it is that it will increase project outsourcing and offshore development in a big way. Everyone knows that projects are closed on wafer thin margins and on top of that if they have to pay higher fees for H1B, at least SME sector is sure to go for outsourcing their projects in a big way.