Doing Business in the United States: A BDO Roadmap
22 February 2021
Businesses are looking for ways to not only survive, but ultimately thrive, in times of change – whether that be locally or globally. One thing remains constant—businesses are still interested in in tapping into the United States market. Home to the largest amount of foreign direct investment in the world, the U.S. is encouraging of free enterprise, competition and capitalism. It represents a worthwhile opportunity for growth— especially for businesses looking to diversify their assets.
Even though the U.S. presents a world of opportunity and its rules of business are relatively easy to navigate compared to other markets, there are still challenges unique to the market—particularly given its size, business culture and workforce nuances, and diversity of jurisdictions.
To successfully capitalize on the opportunities the market presents, foreign organizations must have a clear, proactive action plan in place. In Doing Business in the United States: A BDO Roadmap, we outline six steps—and questions and considerations for each—that should guide that action plan.
The 6 key steps:
- Choose a strategic location - what factors should you consider when creating your US presence? The labour economy, infrastructure and utilities and suppliers are some of the items you'll need to consider.
- Establish a strong footing - how do you determine your tax year? Choosing the right company structure is such an important factor when setting up.
- Finance your business – start off by determining how much capital you need to fund this US operation. Evaluate your capital options.
- Shore up the right workforce – first, understand the talent pool, and then attract and retain the right talent – people, place, productivity. Don’t forget to read up about employment law.
- Ensure legal and regulatory compliance – navigating top-of-mind US laws and regulations, mitigating risks and navigating a diverse taxation environment.
- Mitigate economic uncertainty - chief concerns regarding expanding to the U.S. by industry and timeframe.
Download our step-by-step guide for further details of this journey.
Download the guide