Set up your business in the USA and benefit from a large and wealthy market, a business-friendly legal framework, and a well-developed infrastructure.
Have you ever thought about starting a business in another country? Or do you dream of owning your business in a place like the United States? Then you’re at the right place.
With a customer market of over 338 million people and exposure to an additional 425 million people through free trade agreements, the United States has a healthy and diverse consumer economy.
However, the benefits are not only limited to consumer markets, instead, they stretch beyond them. Let’s find out what benefits are available to a business entrepreneur in the USA:
Why the USA is a Great Place to Start a Business?
Here’s why you should start your business in the USA:
Build a reputation
Building a business in the USA can significantly enhance your reputation on both a national and global scale. The United States is known for its robust economy, innovation-driven culture, and a thriving entrepreneurial ecosystem. When you establish a business here, you align yourself with these attributes, which can boost your reputation in several ways.
Firstly, the USA offers access to a vast consumer base and diverse markets. Successfully penetrating these markets can lead to increased visibility and credibility for your brand and heightened trust among customers.
Secondly, the country fosters an environment that encourages innovation and growth. You showcase your business acumen and determination by demonstrating your ability to thrive in this competitive landscape, further elevating your professional reputation.
Thirdly, the USA is a global economic leader, making it an attractive destination for investors and partners. Collaborating with American businesses or securing investments from US-based entities can enhance your reputation in the eyes of potential investors and stakeholders.
The American Market
The American consumer landscape stands as the world’s most sizable and profitable. Despite economic uncertainty, the U.S. economy has continued to develop well in 2023. The United States boasts a $25.46 trillion GDP and an estimated population of over 338 million, holding the world’s top position for best economies
By setting up a U.S. enterprise, you gain straightforward entry and the capacity to distribute your products or services directly within the American market, bypassing intermediaries. Furthermore, it’s worth noting that American consumers prefer purchasing from domestic businesses rather than foreign ones.
Entrepreneur friendly culture
Americans also have a strong desire to start and grow businesses. They are not afraid to take risks; if they fail, it’s okay; they can try again. Even people who go to college or business school in the United States often want to start their own businesses.
The United States has a financial system that helps people start and grow businesses. Many investors, including angel investors, are willing to give money to startups. A vibrant venture capital market also provides funding to help businesses grow. In addition, the U.S. has a decentralized banking system with approximately 8,000 small banks giving entrepreneurs loans. Also, it’s easier to open a bank account in U.S. banks, making it easier for you to conduct business with U.S. nationals.
Global Trade Opportunities
The USA has numerous international trade agreements, facilitating access to global markets. It has 14 free trade agreements covering 20 countries. Furthermore, the United States has entered into further trade agreements to facilitate global commerce. For instance, the United States-Mexico-Canada Agreement (USMCA) ensures smooth trade with neighboring countries.
In terms of exports, the U.S. offers diverse opportunities. In 2022, the top export categories included machinery, electrical machinery, and aircraft. These sectors continue to thrive, providing avenues for international companies to tap into.
Tax benefits
Setting up a business in the USA offers several compelling tax benefits that can significantly impact your financial bottom line. One of the primary advantages is the ability to take advantage of various tax deductions, which can substantially reduce your tax liability.
Firstly, incorporating your business allows you to spread out losses over a more extended period, which can be especially valuable during challenging economic times. This means that if your business incurs losses, you can offset these losses against future profits, reducing your overall tax burden.
Secondly, you can deduct both startup and operational expenses, including costs related to research and development, marketing, and office space. These deductions can provide significant financial relief during the initial stages of your business.
Additionally, incorporating allows you to deduct employee benefits, such as health insurance and retirement plans, which can be a powerful incentive for attracting and retaining top talent.
Access to a Skilled Workforce
The USA offers access to a highly skilled and diverse labor pool. As of 2022, it had a labor force participation rate of 62.20%. Moreover, the USA’s strong work ethic and culture of innovation have fostered a highly motivated and entrepreneurial workforce. American workers often exhibit flexibility, adaptability, and a willingness to embrace new technologies and approaches which are crucial for success in today’s dynamic business landscape.
The country’s commitment to research and development is another asset. The USA invests heavily in cutting-edge technology and encourages collaboration between businesses, research institutions, and government agencies. This synergy promotes innovation and keeps the workforce at the forefront of emerging industries.
The talent pool from Top-notch Universities
The United States has some of the best universities and colleges in the world. According to Webometrics, many American universities are among the top five in the world, with 32 of them in the top 50. These schools do a lot of research, which helps America come up with new ideas and technologies. Often, these ideas start in universities, and businesses nearby make them even better, bringing in more investments.
Besides these great universities and colleges, the government is also focusing on community colleges and other programs that train people for jobs. This implies that you’ll be able to find suitable and educated team members for your business needs.
Business-Friendly Regulations
The regulatory environment in the USA is known for its transparency and ease of doing business. The World Bank’s Ease of Doing Business Index ranked the USA 6th out of 190 countries in 2022. Furthermore, the regulatory landscape is known for its efficiency and consistency. The USA provides clear guidelines and standards for businesses to follow, reducing bureaucratic red tape and fostering an environment of compliance.
Intellectual Property Protection
Stringent intellectual property laws protect businesses, encouraging innovation and safeguarding ideas. This includes patents, trademarks, copyrights, and other ways of protecting ideas.
The American system ensures that no business idea gets stolen; therefore, they have a solid intellectual property protection system. The United States offers businesses robust intellectual property (I.P.) rights, providing valuable protection for innovations and creations. For startups, this is a game-changer. Intellectual property encompasses patents, trademarks, copyrights, and trade secrets.
They grant exclusive rights, allowing you to prevent others from making, selling, or using your invention for a set period, typically 20 years. This is a huge advantage, as it encourages innovation and attracts investors. Getting these protections in the U.S. is easy and affordable. So, businesses can feel safe knowing their ideas are well-protected in the U.S.
Business Services in the USA
We specialize in helping international businesses establish their presence in the USA, offering various invaluable solutions that accelerate your growth. Our portfolio includes online U.S. bank account setup, virtual office solutions with mail forwarding capabilities, and the flexibility to access meeting rooms and serviced office facilities as required.
We pride ourselves on our strategic presence in key American cities, ensuring that your business can thrive in prime locations such as New York City, Philadelphia, Miami, Mt Laurel NJ, Charlotte NC, Cincinnati OH, Washington DC, and various locations in California. Our extensive network not only simplifies your entry into the U.S. market but also positions your business for success in diverse markets nationwide.
Let us handle the logistics while you focus on achieving your entrepreneurial goals in the United States.
For help and advice on multiple company incorporations or one-off setups, please don’t hesitate to call us on +44 (0)208 421 7470 or contact us via the website.
