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FOREIGN NATIONALS STARTING U.S. BUSINESSES ARE MAKING COSTLY MISTAKES

Lack of planning and an inadequate understanding of U.S. rules can dramatically reduce the odds for success, says Silicon Valley-based financial advisor

FREMONT, California -- Although many government’s policies around the world discourage offshore investors, the largest economy in the world still remains relatively open to foreign investment. A growing number of new U.S. businesses—especially start-ups in the technology sectors—are being started by foreigners.

Driving that trend even harder will be the coming void that is expected to be created in the work force by exiting boomers in the next decade. According to Deloitte, over the next 15 years 80 percent of the U.S. work force will be retiring. Who better to fill that void than foreign talent and entrepreneurs?

In many cases, these highly motivated new U.S. business owners are less wise to the ways of doing business here, and may not spend the proper time thinking out issues that can affect their future financial success. Even seemingly obvious issues such as whether or not to set up residency here in the US can present taxing problems...

DTE Goes From Strength to Strength

Powerful growth of 19 per cent means professional services group DTE , TIAG's Manchester-based member firm, is the sixth fastest growing accountancy firm in the UK - including the 'Big 4' international firms.

A sharp rise in DTE's fee income - from £15m last year to £18m in 2007 - has moved the nationally-based group from 29th to 26th position in the national 'Premier League' of accountancy firms, compiled by trade title 'Accountancy Age'.

DTE, which has offices in Manchester, London, Birmingham, Bury, Blackburn, and Wolverhampton, also generated higher fee income per partner (£1.6m) than all but five UK accountancy firms.

Managing Partner Keith Train comments: "These figures reflect an excellent year at DTE and a magnificent effort by our professionals in all departments.

"After breaking into the UK top 30 for the first time in 2006, it would have been easy to have taken our foot off the pedal, but it is extremely pleasing to report that the opposite happened."

DTE's best performing division was Corporate Finance which chalked up fee income growth of 60 per cent, while Tax, Audit and Corporate Recovery all recorded increases of 20 per cent or higher.

Train adds: "We will continue to pursue our strategy of internal expansion by developing our people and recruiting talented individuals, as well as external growth by acquisition, as opportunities arise."