Will I be able to obtain the U.S. H1B visa if the hiring company has only one employee who is the owner as well? The revenue of the company was $350k.

U.S.C.I.S. looks at the size of companies when assessing whether to grant H-1B visa petitions. A company with only one employee who is the owner and in which the revenue is $350,000 may have complications. If you yourself are the owner and an entrepreneur with a good business plan, U.S.C.I.S. may be more inclined to approve the H-1B visa petition. I suggest that you consult an experienced immigration lawyer to go over the variables of your intended H-1B. Due to the limitations of the Lawyers.com Forums, Alan Lee, Esq.'s (the "Firm") participation in responding to questions posted herein does not constitute legal advice, nor legal representation of the person or entity posting a question. No Attorney/Client relationship is or shall be construed to be created hereby. The information provided herein by the Firm is general, and requires that the poster obtain specific legal advice from an attorney. The poster shall not rely upon the information provided herein as legal advice nor as the basis for making any decisions of legal consequence.  

It would be wild speculation to tell you whether such a case would be approved.  There is no requirement that the employer be a fortune 500 company, but a sole proprietorship will be viewed with great scrutiny regardless of the revenue.