You’re thinking of starting a business. You’ve thought of some unique ideas, and how you’re going to raise enough money to get started. What you might not have thought about is where you’ll start your business.
Many entrepreneurs head oversees to start a business because, with the U.S. dollar being stronger than most other currencies in the world, it could save a bundle to start a business in another country. This makes sense, but the United States still seems to be the best place in the world to start a business.
Why The US Rocks for Entrepreneurs
According to Ernst and Young’s annual survey, out of the 20 largest economies in the world, the United States still has the best environment for entrepreneurship. Understanding the reasons will help you see why you should invest in the U.S. for a successful biz.
American has an entrepreneurial culture that is more acceptable than other countries. Many other cultures perceive people who want to start their own business as not wanting to work. They feel that they are just wallowing in the wind and won’t take them seriously.
The United States is also an innovative culture. It encourages people to do new things. It also supports people who want to try new things by conducting research to help them. In other countries, doing things outside of the norm is frowned upon.
The United States economy is much better than many other economies around the world. This means that people have money to spend on products and services. As people buy, demand increases, and so does the supply that entrepreneurs can provide.
Let’s not forget that the United States has some of the best education resources in the world. You can get any degree you think of in America, and you can do it online, if you want to while you start your business. You can also choose to participate in training programs, which will help you learn whatever you need to, so you can excel in a particular area of your business.
Raising money is much easier in the States too. Crowdfunding sites have exploded over the past few years. They are successful because Americans are willing to donate money to startups they believe will take off. In other countries, many people don’t have enough money to invest in their own dreams, never mind other people’s dreams.
What the United States Doesn’t Do Well for Entrepreneurs
The government and its link to industries and volunteer sectors are one of the ways that the United States fails entrepreneurs. Over time, this may change, so don’t let it lead you astray too much. Businessweek says that despite this lack of coordinated support, Americans’ ability to fund entrepreneurs are much better than other countries like Russia and India that have the coordinated support.
Even if you weren’t planning on going overseas, this information probably solidifies your decision to stay stateside to build a profitable business. Get started on your business now because there’s never been a better time to be an entrepreneur in America.
Have you ever thought about starting a business outside of the United States?