Living in the United States and opening a business can be a dream for many Brazilian entrepreneurs. However, facing the unknown can be challenging. It is in this context that personalized consultancy for business opening in the United States becomes a valuable tool, providing specialized guidance and facilitating the process. In this article, we will explore the essential initial steps to undertake in the US, and list some companies that offer consultancy services in this area.
Established in 1953, the United States Small Business Administration (SBA) continues to assist small business owners and entrepreneurs in pursuit of the American dream. The SBA is the only federal-level ministerial agency fully dedicated to small businesses and offers counseling, capital, and hiring expertise as the sole national source and voice for small businesses. However, to succeed in the United States, we emphasize the importance of keeping your English up to date to take advantage of the available tools.
The United States makes it easier for non-citizens to start businesses compared to most countries. The only caution is that you need to take extra care when completing business formation and tax documents. However, you do not need a US visa or Social Security number to register.
Initial Steps to Open a Business in the United States
Market Research and Viability
First and foremost, conducting thorough market research is essential. Understanding the demand, competition, and feasibility of your business in the United States is the starting point. Market research helps find customers for your business, while competitive analysis helps make your business unique. Combine both to find a competitive advantage for your small business.
Choice of Business Structure and Name
The choice of business structure directly affects your rates, your ability to raise resources, financing, and the necessary documentation for your business, as well as your personal liability. Specialized consultants can provide guidance on the differences between LLC, Corporation, S Corp, and other options, considering factors such as legal liability and tax benefits.
Registration and Documentation
Bureaucracy can be challenging, but experienced consultants make it easier to register your company with the relevant agencies, ensuring compliance with local laws. If you operate your business under your own legal name, you may not need to register anywhere. However, remember that if you don’t register your business, you could lose personal liability protection, legal benefits, and tax benefits.
Opening a Bank Account in the United States
Opening a bank account in the United States is straightforward, and you will need basic information about yourself and the legal documentation of your business. Your business bank account in the United States also helps keep your business and personal funds separate, providing more protection for your personal assets and facilitating financial control.
Hiring Insurance
Achieving the American dream can be a reality if you conduct market research and identify that your business is viable. Having insurance for your business may be a legal requirement in some types of businesses or states and can also protect you personally and legally in case things don’t go as planned. Some states require additional insurance, so visit the state’s website where you opened your business in the United States to check the requirements.
The Path to Success in the United States
By following the initial steps with the right support, the dream of opening a business in the United States can become a tangible reality. It’s important to choose reliable partners and embark on this journey with confidence and knowledge. After opening your business, the fun begins; prepare now to manage and grow your company in the land of opportunities.
In the United States, just as businesses can grow rapidly, the associated costs due to mismanagement or some catastrophe can be disastrous. Keep in mind insurance or adequate reserves and, above all, efficient management.
Now, get ready to achieve success with your business!