The United States is a country with a very long and successful history of supporting entrepreneurship. Not surprisingly, it is the home of startups. If a person knows how to be creative and come up with unusual and useful ideas, he or she should look toward American programs. The U.S. has everything for the development of commercial projects by talented people.
Building Profitable Startups in the U.S.
A friendly environment for development is a key factor that attracts the attention of entrepreneurial people who are ready to do startups. Talented founders of commercial projects in the U.S. are offered:
- proven sources of investor search at any stage of idea realization;
- government support for young people with an entrepreneurial spirit;
- quick access of the project to the world market.
State aid includes grants of up to $1 million funding of up to $150,000 and expert assistance from specialists in various industries. A startup in the United States can receive financial support under the Small Business Technology Transfer program or Small Business Innovation Research. For that, at least half of the company’s capital must be owned by residents of the country, the activities must be carried out on U.S. territory, and the staff must include up to 500 employees.
If a person is just thinking about creating a startup and moving to the United States, s/he should pay attention to the following business hubs:
|City/ State||Brief description of business development sites|
|North Carolina||Research Triangle Park, LaunchBox Digital|
|Boulder, Colorado||It is home to the TechStars business gas pedal and the University of Colorado|
|New York||It is significant for startups because of the huge financial investments and the loyal attitude of the local authorities. The state has a large number of incubators and gas pedals organized at higher educational establishments.|
|Boston||It attracts prestigious educational establishments and Route 128 community. When it comes to the general amount of investments, this state ranks third among U.S. cities.|
|Texas||Austin Ventures, an investment fund, is located in the state. It is here that popular festivals take place where you can participate in order to get support for technology startups.|
U.S. business hubs are not limited to those places. The trend of government support for young talent that are ready to create commercial products can be seen all over the country. Many new USA online casinos begin their activities as a startup. Follow the link to see the list of promising gambling establishments, and also find out which states do not prohibit their activities.
Financial Support for Startups in the U.S.
Collective cooperation greatly accelerates the realization of American startups. We are talking about crowdfunding and platforms through which you can invest money in projects, such as
- Product Hunt.
In order to receive money for the realization of an idea, a user must register on one of the platforms. When submitting an application, it is important to describe the project in as much detail as possible and determine the amount required to bring it to fruition. After the application is reviewed by the moderators of the portal, it is published for all to see. The success of the application on the crowdfunding platform is determined by the characteristics of the startup and the quality of the advertising campaign. At a minimum, it is possible to collect small monetary contributions from a large number of people, and at a maximum – to attract the interest of a large investor.
The greatest money for a startup can be found from private investors. They are able to analyze and look into the future, so they are ready to invest thousands and millions of dollars in promising ideas. It is important for investors to see not just an idea described in a few sentences but a well-thought-out development plan. A detailed step-by-step scheme that will lead a startup into a competitive and viable project is the first thing that needs to be prepared. A favorable policy of supporting startups in the US does not mean that there is no need to work on estimates, business plans, and other documentation that broadly exposes the project to the investor.
Also Read: Staffing Strategies: How to Make Them Work
How to Launch a Startup in the U.S.?
The process of launching a startup in the U.S. involves three basic steps:
- company registration;
- obtaining an Employer Identification Number;
- opening a U.S. bank account.
At the stage of registration of the company, you choose its type. It can be a company with limited liability or a corporation. The procedure takes no more than five days. Before registration, it is necessary to come up with several options for the name of the project, collect key data about the founders, and decide on the type of activities.
Obtaining an EIN is the most time-consuming stage. It lasts from 6 to 8 weeks. You can learn more about it and apply online at https://www.irs.gov/businesses/small-businesses-self-employed/apply-for-an-employer-identification-number-ein-online. When opening a bank account, you need to look carefully at the legislation of a particular state, as there are differences. If you take into account all the requirements of local legislation, you will soon be able to run a full-fledged financial business.
The USA is a country with favorable conditions for start-ups. Here, talented entrepreneurs can get everything to enter the international market and ensure further development of their businesses. The search for an investor begins with long and painstaking work on the development of a business plan, studying state legislation and the local specifics of business regulation. Hard work is always rewarded with financial investment and a functioning project that has never been dreamed of before.