- Planning to start your own business
- Looking for some good business ideas
- Want to know how you can get funding for your Startup
Starting a New Business in the USA
First of all you need to decide on which business would be right for you. You do a survey around your region and see what is high on demand now. Make sure that you have understood the business that you are choosing, and it suits your business goals. If you are not sure which business type will suit your plan you can get in touch with The Brand Global Team by writing at connect@thebrandglobal.com. One of our team members will assist you in finalizing your plans. It is better to take advice from the experts when you are a novice in any field.
What Type of Company you are looking for
Once you have the business plan ready then you need to decide which type of company you would like to start. In USA you have many options with you. Some of the popular choices are:LLC - Limited Liability Corporation
LLC is the most common business type in the USA. The US laws protects your assets in case you face business debts and lawsuits. No big hassles as far as taxation structure are concerned. If you expect that revenue of your business will be small then you can go for LLC. Both residents and non-residents can start an LLC.C-Corporation
If you are a non-resident and want to start your Business in USA then C-Corporation is recommended for you. Moreover if you want investors to fund your venture and you wish to have shares of your company then you can start a C-Corporation. If you are US residents then you can go for S-CorporationS-Corporation
With S-Corporation you will have certain advantages as it is only meant for US Residents. Here you are exempt from double taxation. If you think you will make a good revenue then this is the best choice for you as you can save more taxesSole Proprietorship
In a Sole Proprietorship, no formal filings are required and it is simplest of all the forms of businesses. However the disadvantage is that in a sole proprietorship, you will have to take personal liability for all business matters. Your business assets and liabilities are not separate from your personal assets and liabilities. If you face debt situation or a loss then you have to compensate that with your personal assets.Financing your Business
In the USA there are numerous government backed loans and funding programmes for your business. There are government guaranteed loans, financial assistance and grants to start your business.Some of the options are:
Small Busines Loans – There are many types of loans that you can apply for starting your company or business in USA.
Government Funding Options - There are funding programmes like Small Business Investment Company Programme, Small Business Innovation Research Programme etc. for funding of new Businesses.
Look for the genuine crowd funding sites where you can request to raise funds for your start-up project.
Laws & Tax Requirements for your Business
When you are in a business it is very important that your business is complying with federal, state, and local tax laws.You need to ensure that all the federal tax requirements for starting a business are met. For more details you can get the information from this official link of US Government
checklist from the IRS.
Apart from complying with all the US laws you also need to ensure that you also follow the consumer protection laws marketing. While hiring the employees for your business keep in mind that here also you need to comply with federal and state regulations.
You can hire only those Foreigners who have permission from the Government to work in USA. It is better to register your company with online E-Verify system. Here is the link where you can register
https://www.e-verify.gov/
Above all you need to secure your new Business by taking a right insurance coverage
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