How to Start Up and Grow Your Business in America (in Chinese)

Preface

This book is respectfully dedicated to all Chinese immigrants, both new and established, who have undertaken the arduous journey of entrepreneurship in pursuit of the American dream.

After nearly a year of careful compilation and editing, the How to Start Up and Grow Your Business in America (A Resource Guide for Asian Entrepreneurs）has finally come to print. Drawing from over three decades of personal experience studying, working, living, and running businesses in the United States, this book gathers my firsthand insights and selected classic consulting case studies. Due to page limitations, only 73 carefully chosen articles out of hundreds previously published have been included. Each article stands independently, thoughtfully annotated, and addresses virtually all industries and various challenges commonly faced by Chinese entrepreneurs in America.

Chapter 1: Where to Seek Advice for Starting a Business in the U.S.

This chapter thoroughly explains the mission and functions of the U.S. Small Business Administration (SBA), including its guaranteed loans, counseling services, small business investment programs, innovation and technology transfer programs, small business awards, and veteran entrepreneurship training and loan initiatives. Additionally, it describes specifically how Chinese entrepreneurs can apply for SBA-guaranteed business loans and advisory services. This chapter includes a total of 14 articles.

Chapter 2: Government Contracts with Small Business Priority.

This chapter provides a detailed explanation of the U.S. federal government contracting procedures and the congressional mandate that 23% of federal contracts must be awarded to small businesses. Within that, 5% must be awarded to minority-owned small businesses, 5% to women-owned businesses, 3% to small businesses located in economically disadvantaged areas, and another 3% to businesses owned by veterans or their spouses and dependents. Due to space limitations, roughly 20% of over one hundred industries popular among Chinese entrepreneurs are highlighted, with step-by-step guidance on bidding for federal government contracts. Entrepreneurs may select and read articles relevant to their specific industry. This chapter comprises a total of 22 articles.

Chapter 3: Export Growth with Government Support

This chapter, containing 10 articles, primarily introduces how small businesses can access free counseling from various federal agencies, Small Business Development Centers, SCORE (Service Corps of Retired Executives), and Women's Business Development Centers, as well as SBA's export loan guarantees and export matching grant programs. It also explains export service initiatives provided by the Export-Import Bank of the United States, U.S. Trade and Development Agency, and U.S. Department of Agriculture, and outlines how small businesses can engage in business opportunities with the United Nations.

Chapter 4: Disaster Relief Loans and Government Assistance.

This chapter, with a total of 15 articles, covers the various disaster relief loans amounting to hundreds of billions of dollars provided by the SBA during the COVID-19 pandemic. It includes detailed instructions and procedures for small businesses applying for these disaster relief loans, along with Q&A sections regarding loan forgiveness, payment deferrals, and other relevant application processes.

Chapter 5: Curated Insights and Practical Tips.

Consisting of 12 articles, this chapter introduces readers to topics such as establishing a community bank, creating a nonprofit organization, applying for federal and state grants for community services and cultural arts, purchasing farms in the U.S., selecting auction houses, antiques and collectibles auctions, and translation guidelines for Chinese-English business names.

It is my sincere hope that readers will appreciate these humble writings, extract their essence, and carry them forward, overcoming difficulties and ultimately achieving entrepreneurial success.

John Xu

Mid-Autumn Festival, 2024

"Lakeview Studio," Westport, Connecticut Connecticut, USA