1. You are not restricted from setting up a business in the UK just because you don't have your residence card. Essentially, once you have an EEA Family Permit, this gives you the right to live and work in the UK and to set up a business if you wish. A residence card merely evidences the fact that you can live and work in the UK. In this regard, the residence card does not confer any more rights than you already have with the EEA Family Permit. So, you can set up a business if you wish and form a limited company, get a bank loan, hire employees and do whatever is necessary to create your new business.
2. Please Rate the answer as unless you Rate the answer your Expert will receive no payment for answering your question.
3. You are welcome! Best wishes.