Do you dream of starting a business in America and living the American dream? A restaurant in New York, a bakery in San Francisco, a clothing store in Los Angeles, a startup in Miami…the United States is known for its international influence, dynamic Thanks to nature and collective strength, it is full of opportunities for entrepreneurs around the world. charm. Find out how to run a successful business on the other side of the Atlantic.
Why start a business in America?
For self-employed people around the world, doing business in the United States is highly advantageous. Here's why you should start your business in the United States.
Strong entrepreneurial spirit
The United States is a very business-friendly and entrepreneurial destination. Regardless of the nature of your project, the country offers a rich, dynamic and innovative business environment.
A French study comparing the entrepreneurial composition of 75 cities around the world found that five major American cities – New York, San Francisco, Los Angeles, Boston and Chicago – were among the world's top 10 entrepreneurial cities.
Setting up a business is quick and easy
This may vary depending on your chosen legal status, but in general, establishing a business in the United States is relatively easy and quick, even as a foreign national. Additionally, taxation in some states is very beneficial to businesses.
the market is very large
Being located in the United States gives you access to nearly 329.5 million potential consumers spread across 50 states and 9,834,000 square kilometers. Your company will benefit from an extensive partner network, a qualified workforce, and diverse opportunities in a wide range of high-performing business areas.
The economy is stable and dynamic
The United States, the world's second largest economy after China as of 2021, is a stable, solid and safe market for foreign investors. Additionally, the dollar is a strong and valued currency around the world.
Starting point for international development
The country also provides a springboard for international development, given its international reach and cultural diversity.
How do I start a business in America?
Despite all these advantages, starting a business in the United States is still a complex matter and there are some difficult steps that need to be taken.
Gain knowledge about the local market
Doing business in the United States can be very risky if you don't know the local market well. Therefore, the first step is to conduct a thorough market analysis regarding:
Consumer Demands: Consumer Habits, Culture, and Consumer Expectations… Remember that the cultural norms and needs of U.S. consumers are different from those in your home country. Your idea may be very good and relevant for the European market, but not necessarily for the North American market. Competition and Supply: Analyze the supply of direct and indirect competitors in the area where you plan to establish and what market share they have. How can I stand out? Local market: What are the new trends in this sector? Innovative concepts? What opportunities can we seize? Legal regulations and administrative procedures: Is it attractive to set up a company in the United States in relation to your field of activity? What are the challenges you should be aware of before starting a business?
Define your strategy and choose your location
Once the market analysis is complete, you need to create a business plan and define the financial and commercial strategy for your business.
To do this, we need to know what funds are needed, what administrative and legal measures need to be taken, local laws, the health of the local market, what communication strategies need to be used, etc. need to be considered.
You should also carefully choose the best city and region to set up your business.
Choice of legal status
Another important step before establishing a business in the United States is choosing the most appropriate legal status for your business. There are approximately 15 different legal business statuses in the United States. Here are three of the most well-known.
Sole Trader: This corresponds to the status of an automotive entrepreneur. It's relatively easy to set up and manage, making it ideal for owners who want to start their own business. Aktieselskab, Aps (Limited Liability Company, LLC): This is very popular and praised for its flexibility, ease of setup, and attractive tax rates. A partner's personal liability is limited to the amount of his or her contribution, and only income tax is payable (no corporate tax). It offers high tax transparency and favorable tax rates with no limit to the number of corporate members. Cooperative (The C-Corporation): It consists of one or more shareholders whose liability is limited to the amount of their capital contribution. Corporate tax will be levied.
The choice of a company's legal status in the United States depends on several criteria, such as the type of business activity, financing capacity, number of partners, development opportunities, but also on the desired state. The legal form for forming a company can vary widely from state to state.
You can also choose to set up a franchise in the US or buy a local company.
Visa application
You must obtain a visa to establish a business in the United States. Investors are entitled to a visa called an E visa (Treaty Trader Visa -E1 – and Treaty Investor Visa -E2). These visas are intended for investors who want to purchase or establish a business in the continental United States. E1 and E2 visas are for nationals of countries that have trade agreements with the United States.
These visas are not immigrant visas, but can be renewed indefinitely as long as the business remains profitable. The issue period is 5 years. Visit your home country's U.S. embassy website to learn about the steps you need to take and the conditions you must meet to qualify for these visas.
Get support during production in the US
There are many organizations that can help you set up a business in the United States. You may also consider contacting your home country's chamber of commerce.
Additionally, you should find a certified public accountant and seek advice from a notary public or attorney who specializes in forming companies in the United States.
Finally, don't forget that if you live in a non-English speaking country or don't speak English perfectly, you need to find a reliable translation company that can translate the documents you need to set up your business in North America. Please don't. At Alphatrad, we have specialized and experienced professional translators who translate all types of documents: legal documents, financial documents, marketing documents, websites, sworn translations of official documents, etc.
Which US city should you consider establishing your business in?
The United States is rich in attractive, dynamic, and world-oriented cities in which to establish a business.
Los Angeles, San Diego, Seattle, CA, Miami, NY, Washington DC, FL, Chicago, IL, Houston, TX, Charlotte, NC…
Choosing a city to do business in is, of course, determined by your personal preferences, including where you want to live. You should also consider the region's growing sectors, local cost of living, and economic conditions.
You should also check local regulations regarding business formation and local taxes. For example, states like Nevada, Delaware, and Florida have very low corporate taxes.
What are the growth areas in the US?
The United States has a wide range of economic sectors, including:
Biotechnology, Financial Technology, Agriculture, Food Industry, Automotive, Telecommunications, Tourism, Real Estate, Agriculture, Digital, Aviation, Clean Energy.
But above all, the most advantageous field of activity depends on the region where the business is located. That's why you need to find out what opportunities are available in the state or city where you want to set up your business.
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We will answer your questions about establishing a business in the United States.
If you are looking for ideas for US companies, you should note that especially those related to Southern Europe and Scandinavia are very popular in the US market. Therefore, we should consider importing know-how (fashion, wine, luxury goods, gastronomy, culture, etc.) from Italy, Spain, Denmark, etc. Growth areas include computer science, IT, green products, digital services (such as online commerce, artificial intelligence, and cybersecurity), financial technology, and renewable energy.
To form a limited liability company (LLC) in the United States, you must:
Apply for a visa and obtain a U.S. residential address. Select the name of your APS and check if it is available. Appoint a registered agent (which will act as an intermediary in case of a dispute) Prepare the necessary attachments and prepare to operate Agree and submit the documents to the appropriate administrative agency in that state Masu. Obtain an EIN (Employer Identification Number). Open a bank account with a US bank.
Using a notary or law firm can simplify these procedures.
