Top Challenges of Doing Business in the USA
Article

Top Challenges of Doing Business in the USA

07 March 2019

The size, growth and access of the USA are attractive for companies looking to invest. TMF group helps corporations set up their business & keep compliant with local regulations.

Disclaimer: This article was accurate at the time of publishing. To obtain the most up-to-date information, please get in touch with our local experts.

It’s easy to understand why the US is an attractive market for companies looking to invest overseas. 

The opportunities:

  • Size: The US represents 25% of all global economic activity and is home to 1 In 4 of the world’s top 500 companies.
  • Growth: While growth is currently slow, no other economy has such a reliable and consistent long-term record of economic growth. 
  • Access: The North American Free Trade Agreement gives US-based companies access to cross-border trade with neighboring countries such as Mexico and Canada. 
  • Incentives: Several US states and cities offer tax credits and other investment incentives to attract global investments.
  • Skills: The US has a highly skilled, well-educated and mobile workforce and attracts labor from countries all over the world.
  • Intellectual property: The US provides a strong regime of intellectual property rights protection and enforcement –attractive to those investing in innovative R&D.

Setting up a business in the U.S.

There are areas that companies need to be aware of before setting up in country – corporations need to allocate significant resources to stay within compliance and governance otherwise they can potentially face risks to their reputation and potentially prosecution.

The US proves to be a large opportunity, however, there are some overall considerations:

  • Each one of the 50 states has:

    Its own state laws or state regulations

    Compliance with local and state tax laws

  • Each state that you register in order to do business, requires a registered ‘local’ agent for service of process

It might be required to register in each state , this will depend on each state’s statuesTMF Group helps corporations keep compliant with local regulations and filings – and has helped many businesses large and small, set up in the US with speed, safety and efficiency. We have local experts providing:

  • International incorporation and structuring: We manage the legal set-up and structuring of new or existing operations. 
  • Office premises: Whether you need registered addresses, rented offices or assistance managing your own premises, we can help with both your current and future needs. 
  • Corporate secretarial services: We help you stay compliant, manage your risk and stay on the right side of regulators and filing requirements. 
  • Accounting and tax: We take care of local tax registration, bookkeeping, management reporting, consolidation reporting and local accounts and reporting to relevant local and international standards. 
  • HR and payroll: We help you to hire the right people, apply and implement international policies in employment contracts and handbooks, and pay your staff on time in compliance with local law. Understanding local law, regulations, processes and requirements is at the heart of what we do. From whatever country you are in, our wholly owned and independent offices across the globe can help launch your entry into the US markets, ensuring you control costs, reduce risk and simplify multi-jurisdiction operations.

If you are already operating in the US, we can also help by simplifying, streamlining, and/or consolidating your operations, to aid you in your growth plans within the US . Are you planning to expand into the U.S.? Make an enquiry! Keep up to date

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