PARTNERS
THE BRITISH AMERICAN BUSINESS COUNCIL IS COMMITTED TO PROMOTING TRANSATLANTIC TRADE AND INVESTMENT BETWEEN THE US AND THE UK
Top tips for setting up business in the US
Setting up a business in the US may not be as straightforward as some British firms believe.
BABC member RSM Tenon has produced the
following list of ‘top ten’ steps, which it says, are vital to the successful establishment of a business in America.
states; 1
2 3 4
Services (IRS);
5 6
7 8
tax;
State taxes and regulations – these can vary enormously from state to state.
9
Social security and employee benefits – not like in other countries, as it focuses on retirement income, health benefits etc.
10
Foreign investment incentives – many states offer these, to create jobs
and bring in more taxes. 20 CHAMBERLINK FEBRUARY 2012
Other registrations – may be required that are specific to a particular State;
Federal taxes – companies operating in the US will probably be subject to income
Entity choice - RSM recommends that businesses are created in the States as a
‘business corporation’, rather than a limited liability company, for tax reasons;
Jurisdiction choice – businesses can be incorporated anywhere, although Delaware is singled out as having the most business friendly corporate laws;
General requirements – these vary from State to State, but requirements usually include the need to file an annual report and pay franchise taxes. Also, corporations must have a registered agent in the state of incorporation;
Tax registration – new companies must register with the Federal Internal Revenue
Business formation – new businesses are created under the law of one of the USA’s
Making a stand: Fokker exhibition stand designed and made by Saxon Design
Avoiding the pitfalls of exhibiting in America
P
romoting your company in the USA requires a different set of marketing tools to those needed for the
European market. For those of us not lucky enough to have a dedicated US marketing department, exhibiting across the pond can be a minefield. Ben Bradberry of exhibition stand specialist Saxon Design Ltd says: “The way you participate at an
own stand is simply not an option. In America simply getting your exhibition equipment into the hall, or drayage as it is termed, can cost more than your total stand build budget in the UK. The entry level ‘Pipe and Drape’ booth provided at US exhibitions simply does not compare to the
solid walls of a shell scheme that create defined spaces here in the UK. Whilst a raised platform floor is a must in the UK, thick carpet with soft under padding offers a welcome relief for tired feet on most USA booths. Costs to exhibit in the US can seem steep in comparison to the UK but the sheer size of the US
market can mean a far greater return on investment following a toe dipped into the US marketplace. Mr Bradberry added: “Exhibitions like any of the ingredients in the marketing mix are a
business tool that needs careful planning and consideration. The rewards though can be huge if it is done right.”
Scotland welcomes BABC
Edinburgh will welcome delegates from the UK and North America when is hosts the 2012 BABC Transatlantic Conference in May. The conference has in recent years been held
in San Francisco, London and Washington DC. This year the Scottish North American Business Council (SNABC) will host the conference and provide executives from across the UK and North America with a unique opportunity to promote
their business and to learn more about these vital markets. The event, which takes place at Gogarburn
Conference Centre, Edinburgh on 16 to 18 May, will provide an opportunity to network and connect with leaders from the world of finance, science, manufacturing, energy, security and government.
For further information visit
www.snabc.org
‘Simply getting your exhibition equipment into the hall can cost more than your total stand build budget in the UK’
exhibition here in the UK and in the US has some major differences and pitfalls to look out for.” Unionised labour in exhibition halls in the US means that the European ‘free for all’ of building your
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