Starting a business in the United States – Laura Posada

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Starting a business in the United States

The United States is the biggest market in the world and, as it is a country with great economic freedom, it is an excellent place to invest and start your own business. As with everything, I can’t say that it will be easy, it will require a lot of work and effort, as there is high competition and practically every kind of business already exists. So, make sure this business that you dream of is creative and innovative, that it is in an unexploited field and that it offers a product or service that appeals to a niche market, instead of focusing on a mass market that is already very saturated. To succeed in the United States, you need to start with the right attitude and on the right foot.

Brainstorm: When you are thinking of starting a business, it is important not to limit yourself when it comes to ideas. You can investigate, listen to the suggestions of friends and family or think about partnering with other people who have a different skill set than you have. When you have your idea clearly defined, it is imperative that you carry out market research in the area where you want to provide the service. You can do this yourself or hire the services of a company that specializes in carrying out market research. Once you have this research, you can analyze the feasibility of the business objectively and realistically.

Get detailed advice on the legal and commercial formalities: If you are not a resident of the United States, but you want to live here, there are a variety of investor visas that you can apply for with your business. In this case, enlist the help of a recognized immigration lawyer, who has adequate references and experience, and of an accountant who can also help you with the legal formalities of the business (setting up the company, tax returns, etc.).

Raise capital: If you don’t have the necessary capital to start your business, don’t worry. The majority of businesses are started with capital from investors or from the bank. Before you begin to try to attract investors for your project, you should write a good business plan. Sometimes your passion and the conviction you show when you are selling your business idea is even more important than the business plan itself. You can’t be shy, you must create a network of business contacts through local and regional business organizations. This network of contacts can really help to raise capital.

Finally, you must be very aware that it takes time, effort and discipline to get a business off the ground: Perseverance is the key word here. Businesses do not usually flourish overnight. You have to be very flexible to adapt to changing circumstances and culture and to keep your business up to date to retain and satisfy your customers. Remember that a satisfied customer is the best publicity and reference that you can have.