Consulting ServicesU.S. Entry Strategy
MI’s superior consultants bridge academic rigor with common sense business practice to help you make the right decisions. MI can assist with your U.S. entry strategy by providing advice on your current plan, conducting in-depth industry studies, and creating detailed business plans.
We provide your company with crucial information on the region of the country you have selected for your operations, an analysis of the U.S. industry your product or service belongs to, and information on your key competitors. This deeper understanding of the situation is vital for developing a strong strategy for your entrance into the U.S. market.
This is your company’s road map for the future. If you plan on sending employees from your parent company to the U.S. on a work visa, you will be required to have a business plan for the application process. We can help you write one that will set you up for success.
Frequently Asked Questions
Yes. We can help you write a business plan that not only maps out your company’s U.S. entry strategy, but also helps with the immigration process. (Business plans are required for E and L work visas and often these need to be tailored to support the requirements of the visa you are applying for, or for the individual(s) you intend to bring over.) The business plan will cover: company history and mission, industry analysis, assessment of company’s capabilities, SWOT analysis (strengths, weaknesses, opportunities, and threats), 12-month objectives and 5-year goals, business strategy, and pro-forma financial statements for the first 3 years of operations.
An analysis of the industry in the U.S. should be your first step to determining if it is even right for your company to expand into the U.S. market. (As an example, MI’s professionals advised a company, after an industry analysis, that it should not enter the U.S. market due to unfavorable conditions that would have made it very difficult for them to succeed). You may already know some of your competitors, but do you know them all? Have you looked deeply at your company’s structure and culture to ensure it has the capabilities to meet the potential demands of the U.S. market? Do you know where your target customers, supply chains, and key logistic points are located in the U.S., which could make where you locate important? Do you know the current U.S. trends that could provide opportunities or threats to your business? All of this and more is needed to build the right U.S. entry strategy.
While we are not site selection experts, we can put you in contact with those who are, and will work closely with them on your behalf. We also have close relationships with local and state economic development teams. When looking at incentives, we caution against being too shortsighted in possible gains. You should pick your location first and foremost based on your needs now and in the long term:
- Will you have access to the skilled workforce you will need?
- Is this a place people are moving to or moving away from?
- What’s the time difference between there and your parent company? Will collaboration be easier or harder than other locations?
- Will you have access to the transportation centers you need (port, rail, plane, etc.) to quickly move goods and people across the country?
- Is the community one that your transferred employees (and their families) will thrive in? What cultural centers and activities are around? How are the schools and neighborhoods?
If more than one location meets all your needs and there are no downsides between selecting one over the other, then certainly incentives should be taken into account, and we can help you negotiate the best deals.
Can MI help us understand how best to set up the company from a legal and organizational point of view?
In the U.S., you can have a C-Corp, an S-Corp (this option is not available for foreign-owned companies), or an LLC (learn more about these here). Sometimes, especially if you will own real estate and a corporation, it is best to divide your investment into different legal entities. After understanding your situation (management structure, ownership structure, goals for growth, etc.), MI can advise on the best path forward. This should always be addressed together with CPAs, corporate attorneys, and immigration attorneys, as each path could have implications for other aspects of the business. That is why an advisor with a full 360-degree view of your business is key, and where MI provides the most value. You can learn more about these types of U.S. entities in our inSite.
We have been approached by many other service providers but don’t know how to choose? Can MI help us?
You will always need a team of professionals when entering the U.S. market. For example, you need a Certified Public Accountant (CPA) for federal tax filings, and a corporate lawyer to ensure you follow business laws and protect yourself from litigation as much as possible, to name just a few. MI is happy to help you evaluate which professionals would be best for your business. We can also introduce you to several we work with on a regular basis to help fill out your team.
When you work with MI on a business plan, here are some features that you can expect it to include:
- Company History and Mission
- Industry Analysis
- Assessment of the Company’s Capabilities
- SWOT Analysis (Strengths, Weaknesses, Opportunities, and Threats)
- 12-month Objectives and 5-year Goals
- Business Strategy (Sales, Marketing, Operations, & Human Resources)
- Pro-Forma Financial Statements for the First 3 Years of Operations