Now that the Holidays are over and 2018 is in full swing, investors and entrepreneurs from around the globe are wondering, “where should I go next?” According to recent data from Forbes, JDC Consultancy is thrilled to announce that the answer to that question, for many, is the United States.
In its 12th annual “Best Countries for Business” survey for 2018, which examines 153 countries, Forbes awarded the United States 12th place. This comes on the heels of several less-than-ideal years in the Land of the Free, which saw a drop from 1st place in 2006 to 23rd place by 2017. This level of improvement in a single year is tremendous and marks new opportunities for investors and innovators who are interested in doing business in the U.S.A. The areas measured by Forbes are innovation, property rights, taxes, corruption, technology, infrastructure, personal, trade, and monetary freedom, market size, investor protection, red tape, political risk, and workforce. These factors were all equally weighted, and each one is vital for a country to be truly hospitable towards new and existing businesses.
Global Competitiveness Report
The data was gathered from numerous trusted sources, including the World Bank’s “Doing Business” report, which placed the U.S. at #36 for taxes, as its new tax plan had not yet been published, The Heritage Foundation’s “Index of Economic Freedom,” and Freedom House’s “Freedom in the World” report, on which the U.S. scored 86/100. Information for this survey was also collected from the World Economic Forum’s annual “Global Competitiveness Report,” which places the United States at #3 of 140 in terms of competitiveness, as well as several other relevant reports, which mark the U.S. as a nation to watch in terms of business readiness. The United States placed first in the world, according to Data from World Bank, which measures education capabilities, and it holds its own as the world’s largest market size in terms of GDP, which clocks in at an enormous $18.6 trillion.
Historically Low Unemployment
As of December 2017, the United States was seeing incredible improvements over recent years. Its GDP growth is 1.5%, which is on par with Canada, and only slightly lower than the #1 country, the United Kingdom, which is anticipated to grow 1.8%. Unemployment is at a very low level, at just 4.9%, and is expected to continue to fall, especially as investors and entrepreneurs add jobs in in-demand industries. Entrepreneurs and investors will be excited to learn that this growth is driven by a combination of the U.S.’s amazing capacity for producing new technology, as well as its relatively few restrictions on businesses. According to Business Insider, the U.S. business environment also benefits heavily from the ease of obtaining credit. The United States is also excellent at protecting minority investors, coming in at #2 on the World Bank’s “Doing Business” report.
The United States – At an Exciting Stage Economically
When the United States’ allies do well, so does the U.S. Friendly trade and relationships with other burgeoning economies give the United States a global boost, on top of its already considerable independent success. For 2018, Forbes has rated a close U.S. ally, the United Kingdom, as the best country for business. Although uncertainty surrounding the Brexit vote remains, the U.K. placed in the top 25 of all the metrics surveyed, except for political risk. Much of this success is due to large, global companies, many of which were founded by Americans, opening offices in the U.K. A few of these include Wells Fargo, Apple, and Facebook. The U.K. and the U.S. have a special relationship, and success for one of these nations usually has a positive effect on the other.
All of these numbers boil down to one fact: The United States is at an exciting stage economically, socially, and globally for investors and entrepreneurs. After several years of economic turmoil following the Great Recession, foreign innovators seeking to bring their expertise, education, and funds to the U.S. can now do so with more confidence than ever. Tracy is already reaping the rewards of living her American Dream! Read her inspiring entrepreneurial story.
These improvements can be seen across most industries, but many of those growing the most quickly in 2018 also happen to be popular with immigrant entrepreneurs and foreign investors. According to Salary.com, which has obtained its data from the U.S. Bureau of Labor Statistics, at least 11 industries can expect to see job increases of 10.9% – 38.1%. The top spots go to medical and tech industries, including home health aides/personal care aides, medical assistants, medical secretaries, software and application developers, and nursing assistants, but other more accessible industries are also listed as the ones to watch for 2018. These include market research analysts and marketers, cooks, food preparers, and servers (alongside the restaurant industry as a whole), electricians, and construction laborers.
Good News For Foreign Entrepreneurs & Investors
As the demand for these industries rises in 2018, foreign entrepreneurs and investors will step in and provide the experience and oversight to either create new industry players or improve existing ones through investment, expansion, innovation, new start-ups, purchasing existing businesses or franchises. This is fantastic news for JDC Consultancy’s client base, as many of them choose to enter these industries and become valuable job creators in their market. The benefit of this is apparent on all sides: The foreign entrepreneur or investor has the opportunity to realize the American dream and build or expand a successful business in one of many in-demand industries, and areas in need of jobs are given a chance to revitalize their local economies. American workers seeking to change industries, find a better work situation, or even just start their first-ever job will be given a chance to advance with these new companies, often as they establish themselves from the ground up, resulting in economy-stimulating financial stability and, in many cases, long-term careers for U.S. workers.
2018 Presents an Ideal Opportunity To Do Business in the U.S.
For those hoping to move to the United States to start a new business, purchase a business or franchise, grow and expand their existing business, or invest in a new or existing enterprise, 2018 is the ideal opportunity to do so. The United States is in the midst of a period of growth and has both the demand for new businesses and the economy to support them. As always, JDC Consultancy is here to help ease the immigration process by writing detailed, customized immigration business plans, which are a crucial part of the extensive paperwork required for obtaining a visa to open a business in the United States. Investors and entrepreneurs have a vast array of options, with 50 States to choose from, each with its own unique culture, economic needs, and opportunities. Job creators in most industries and niches can, in 2018 and beyond, find the opportunities they have always dreamed of in the U.S.