5 practical tips for starting a business in the USA

STARTING a BUSINESS in the USA

Many people ask how much it costs to starting a business in the USA. The answer varies depending on the state in which you intend to operate, but we are generally talking about an amount close to two thousand dollars.

The registration of the real company costs about US $ 150. It is an operation to be carried out in the state in which the company will be active and guarantees the protection of the company name in that state.

To do this, it is almost always necessary to have an American contact who can receive official communications from the state and act as a local contact. It is a type of secretary who is at an official address where notifications and any correspondence from government, local and federal authorities can be delivered.

Another very important fact in starting a company is knowing which entrepreneurial profile you fit in with, this can greatly facilitate your performance in the USA.

1. The importance of having training status and reports

Finally, the most prudent entrepreneurs also have a statute and the minutes of the first meeting prepared to give the company an official structure. This is an important step, but not everyone follows it.

If you request this type of documentation from a lawyer, you will pay $ 1,500 to $ 2,000. If purchased as part of the general training package, you can spend between $ 2,000 and $ 2,500 all-inclusive.

The company can be formed and can operate even without these last documents, but it would be a serious mistake.

It does not matter whether it is a corporation (corporation) or an LLC (limited liability company). The lack of this initial documentation will weaken the company in the event of a legal problem.

This will also make collaboration between different partners much more difficult. In fact, the bylaws precisely define the relationship between shareholders and the operation of the company itself.

However, the minutes must be prepared in the creation of the company. The statute could be drafted later, but it would cost more and still be a mistake.

2. Why is it important to conduct a feasibility study

Opening a company in the USA is a fascinating and at the same time very demanding adventure. The market moves very quickly and there are no barriers to entry for new entrepreneurs.

An increasing number of individuals are leaving their permanent place to start their own business, with the aim of totally controlling their financial future, managing their time more autonomously and seeking a passion.

Considering the steady flow of new small businesses, you need to understand your market well and move to attract enough customers to keep your business alive.

Market research requires methodical research before starting your own company in the USA. The future stability of your business and the level of risk you will face depends on the good results of this research.

Part of this work can be done directly by the entrepreneur, who can collect information via the Internet or in person.

However, it is advisable to hire a local professional before starting the final project. The consultant will certainly be aware of the information that the entrepreneur cannot discover on his own.

He will also have firsthand news about opportunities and incentives that can be very useful in the launch phase.

3. How much does this initial study cost?

The cost of this type of consultancy varies widely, depending on the type of consultant hired and the nature of the work performed. It usually starts with a feasibility study that determines the probability of the project’s success. This can cost anywhere from $ 500 to $ 1,000.

In this first part of the research, any problems that may arise in the sector in which we want to operate and, in the area,, we choose are identified. Each sector in particular is in one of the following stages of development: initial start-up, growth and innovation, consolidation and economies of scale, maturity, contraction.

The state of the sector then changes depending on where you are. A specific type of business may be mature in California, but still under development in Florida.

Even within the individual state, there are important differences between the stages of development of the various municipalities. This is an important reason to have a local consultant to help us choose not only the right type of business, but also the location to do it.

The consultant’s cost is largely reimbursed, avoiding costly errors that would end up in the absence of adequate information.

4. The strategic choice of the type of activity

In order to open a company in the USA it is preferable to avoid being in sectors that are in the initial startup phase because they do not offer consolidated business models, that is, companies operating there still need to find out what is the most efficient way to make a profit, moreover, it is generally necessary to make an important investment in the development and research of products in this type of industry.

It is not even convenient to enter a declining industry, because the market is shrinking, and it will be more difficult to move customers away from competitors and make room.

Currently, 80% of companies are concentrated in mature sectors and, therefore, characterized by a high level of competition with very limited market growth and whose main focus is to have enough money to regularly enter society to keep it alive.

5. A free resource for initial marketing research

Precisely for this reason, it is necessary to conduct your market research very carefully and carefully evaluate the location to set up your business and carefully analyze the competition. There are several US government websites that offer free basic information on which to start your first search.

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