For foreign owned companies there are a myriad of complex reporting requirements a US person would never see.

Despite not even being a tax form some of these (e.g. FBAR) have penalties of 50% of the unreported amount. It's not something you want to leave to chance.

> Millions of new businesses are started every year in the US on a shoestring and without hiring professionals.

I don't think that's meaningful. There are 320 million people in the U.S., and only a tiny proportion of people anywhere would consider opening their business in another country.

That doesn't mean there isn't a high barrier to accessing the U.S. legal system. For example, as we know, well-funded parties often defeat poorer parties by simply threatening legal action, because the poorer party cannot afford to use the legal system.