Why the U.S. Is A Great Place for Business

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shutterstock_217179313For decades, the United States has attracted millions of foreign investors, businessmen and businesswomen.

shutterstock_101132716Immigrants are found to have higher business ownership and formation rates than non-immigrants. Roughly one out of ten immigrant workers owns a business and 620 of 100,000 immigrants (0.62 percent) start a business each month. No wonder with a market and infrastructure like ours!

Overseas investors have U.S. assets totaling nearly $4 trillion, including auto plants, banks, mines and more. U.S. affiliates of foreign companies employ about 5.6 million people in this country.

From a vast domestic market, to a transparent legal system, to the most innovative companies in the world, America is a great place for business!

Our stable country and strong economy are powerful attractions to immigrant entrepreneurs and businesses.  Our Government offers support and advice to those wishing to set up in the U.S.  a new business or a subsidiary of an existing one.

With more than 300 million people, consumer demand in the U.S. is robust, making it one amazing opportunity for consumer-based products and for finding great people to help you with your venture.

But even with a strengthening economy and political stability there are barriers, risks, and challenges that entrepreneurs – US Citizens and Immigrants alike – must address if they are to be successful in the United States. Luckily for us entrepreneurs, there is no shortage of professional firms to help with advice!

shutterstock_109452962It is very easy to form a Company in the U.S. However, with its 50 states and the District of Columbia rules can and do vary, so my advice is use a competent consultant, lawyer and/or accountant.

Opening a bank account in the US couldn’t be easier. The U.S. banking sector is a competitive industry that provides retail and commercial financial services to small and large businesses alike. All that is needed is a valid form of identification and proof of U.S. residency.

And it seems there is no shortage of information on where to open, start or relocate a business.

According to a survey by CNN Money in 2013, even though there are challenges, sixty-three percent of business owners feel America is a great place to start a small business. The survey, which polled 50,000 American business owners on the state of small business in America today, found that the majority of business owners believe the United States is still a great place to open or expand a business. “This country was built for business,” one respondent stated, capturing the entrepreneurial spirit that many of us have.

For an entrepreneur interested in forming a start-up, there’s no shortage of resources in America. From great options like the Small Business Administration to the White House Resources for Businesses in America, small business owners have access to grants, workshops, and training programs that can position them to succeed.

The U.S. welcomes entrepreneurs. Immigrant entrepreneurs can apply for one of several business visa options. Some of these visas can present a path for a ‘Green Card’ (permanent resident) application and eventual U.S. citizenship.

Today, American business owners can attend conferences, peruse websites, and subscribe to online magazines to stay abreast of the latest advancements in their chosen industry. Small businesses provide 64 percent of new private sector jobs, prompting both government and industry to acknowledge that assisting business growth can jump-start economic development.

But in my opinion, one of the best reasons America is a great place to start or expand a business is the unwavering support from other business owners. Networking events are held in almost every major city every day, with business owners eagerly sharing ideas and helping each other. Business owners share advice online, at conferences, at Chamber of Commerce meetings, with lawyers, accountants and consultants.

There’s not another country in the world where business has the multitude of opportunities like the U.S. There’s no limit to the value of the support we give each other every day. The ready access to resources, information and the ‘can do’ attitude of American entrepreneurs and those have chosen to make the U.S. their home, is making it easier and easier each year to start or expand a business in America.