Internationally-based business owners typically perceive the U.S. as a fertile market, offering them the opportunity to expand their business’ international reach. However, these same business owners are often surprised at the complications and high costs associated with doing business in North America.
While it is true that the U.S. can deliver one the world’s most profitable purchasing populations, the market is enormous. So large, in fact, that even many resident businesses view their home market as particularly elusive. For example, U.S. marketing and promotional costs tend to be one of a business owner’s most expensive propositions. Additionally, non-U.S. based business owners that hope to reach this larger market often don’t allocate sufficient capital or resources to firmly establish their U.S. operations. Typically, business start-up costs can be twice as much as anticipated (as a rule of thumb, multiply the perceived start-up timelines by two).
Business owners can take steps to avoid many of the pitfalls commonly associated with entering U.S. markets by taking advantage of the advice and guidance outlined in MichaelSilver’s international New Business Checklist, as well as ensure that they are working with the best accounting, tax, and consulting professionals. These recommendations are designed to assist business owners in better understanding what they can expect in the U.S., and help put them on a path to successfully expanding and growing their non-U.S. based business
Our Kind of Town, Chicago Is!
Chicago is the headquarters or primary location for many of the world’s most successful international businesses. In addition to having one of the most accessible international airports, Chicago is proud of its highly educated and skilled workforce, expansive financial services industry sector, top-rated colleges and universities, and its broad variety of entertainment facilities and cultural institutions.
In addition to MichaelSilvers’ wealth of experience doing business in and around the Greater Chicagoland area, our International Services team can provide resources related to any U.S. state or city that you may be interested in considering for your business’ expansion plans.
If you would like to learn more about locating in Chicago, please contact us or visit http://www.invest-in-usa.org/u-s-states-in-europe/1/illinois or www.illinoisbiz.biz.
Joseph Roznai CPA: Sales Tax Audits in Dealerships… Large 6 & 7-Figure Judgments are Becoming More Common- Prepare Now!
Presenter: Joseph Roznai, CPA with Michael Silver & Co.
Original Air Date: January 17, 2013
Program Length: 105 minutes
Phil Kent: Best Practices for Using Benchmarks to Drive Improved Dealership and Departmental Results
Presenter: CPA and Partner at Michael Silver & Company CPAs
Original Air Date: November 15, 2012
Program Length: 110 minutes