Six essential tips for expanding your business to the US

Last Updated at: Nov 04, 2019
Six essential tips for expanding your business to the USA

For many entrepreneurs expanding their business to the US is always a distant dream and most of them think that it is impossible to implement the same. But things are always not the same, they will be changing. Now expanding the business in the US is not tough anymore. There is no need to invest a huge amount and the process for expansion has also become easy. In this article, we will be discussing the tips on expanding the business to USA.

Picking the right market

The US market is never a homogenous market. It is a compilation of local markets with different characteristics, which include many regulations, tax laws, and even consumer service anticipations.

So, it is always suggested that one does good research about the most suitable USA market for their business. They should be careful about the competitive landscape, targeted customers, tax and regulatory environment, geography etc. while choosing the right market.

Updating technology

Mostly, Americans are ahead of Indian companies in leveraging the latest technology. Indian companies have to improve and advance their technology to do business more commendably in USA. One should try to analyze their business to see where they can use tech tools to boost sales, progress the productivity and become more inventive.

In USA it is very important to have an online component to the business. But it doesn’t end there. One should use technology to boost their efficiency, productivity and innovation to compete with their rivals.

Legal knowledge

Having knowledge about US laws can be considered as one of the advantages while doing business. Because many fail to understand the complexity of the legal issues involved in USA and face problems. Legal knowledge involves things like setting up a company, hiring employees, forming contracts, insurance, taxes and safeguarding intellectual property.

One has to understand that these legal issues are handled differently when compared to India. Negotiations are complicated and tough in the US compared to India. So, it is always suggested to take legal advice before starting negotiations. If one has no idea as to how to make this process advance then don’t hesitate to take help from Consulate or an Embassy to connect with the right persons.

Incorporate Your Business in USA

Acquiring another business

Acquiring another business is one of the fastest routes to expand a business. Acquiring or merging with another business in the US can plainly double the size of the business in a single day. The sales and revenue will rise exponentially. But one must perform thorough due diligence on the acquisition before taking the final decision.

Mainly, due diligence efforts should be focused on the company’s fiscal condition, the strength and depth of its managing team, its client base, and the accuracy of existing contracts.

Introduction of new goods and services

This approach sounds pretty simple, but implementing it is a challenging task. For starters, one needs to figure out which goods and services their customers want, and how much they will be willing to pay for them. Next, decide whether or not they can sell these goods and services at a profit.

The best way to achieve this is by conducting thorough market research before obligating any resources to new goods and service expansion. One needs to take their current customers insights into what they think about the new goods and service ideas, including potential prices. Market research should be focused on customer demand for new goods and services and the cost to manufacture, supply, and sell them.

Promoting the goods and services

The Internet is one of the best examples to show how good promotions can transform the fate of a small business. Many companies have reinvented themselves by taking advantage of online opportunities. Most of these companies are able to reach a larger audience by advertising online and making use of search engine optimization techniques to rank highly in web searches conducted by potential customers.

If you haven’t yet started your business, then registering in the US as a non-resident is one of the best options as the country’s taxation laws are flexible enough to gain tax benefits.

Read About: INC-29 Company Registration Procedure