On 16 September, in Washington, District of Columbia, the Strategic Clean Energy Partnership (SCEP) Ministerial was held. It was organized by Jennifer Granholm, the Secretary of Energy for the United States of America, and Hardeep Singh Puri, the Minister of Petroleum and Natural Gas for India. Under the SCEP, the parties discussed the activities that have been carried out across the several technical pillars.
These initiatives included Power and Energy Efficiency, Responsible Oil and Gas, Renewable Energy, Emerging Fuels and Technologies, and Sustainable Growth. The progress that has been made under the partnership to drive clean energy innovation, strengthen energy security, and accelerate clean energy transitions was welcomed by the ministers. This progress was made possible, among other things, through more focused efforts on manufacturing clean energy and building supply chains that are resilient, responsible, stable, secure, and diverse of their supply chains.
Not only did the parties acknowledge the necessity of working towards an orderly, and sustainable energy transition that emphasizes access to energy supplies that are dependable, affordable, and environmentally friendly, but they also expressed their appreciation for the significant role that energy commerce plays in supporting the national interests of both nations.
The ministers recognized the progress that both countries have made in promoting energy efficiency, accelerating the development and deployment of emerging clean energy technologies, advancing the deployment of renewable energy and reliable grid integration, promoting energy efficiency, and advancing the decarbonization of high-emitting sectors such as industry, buildings, and transportation.
Renewable Energy Technology Action Platform (RETAP)
With the goal of developing actionable roadmaps for hydrogen, long duration energy storage, offshore wind, and geothermal energy through research and development, pilots and demonstration, and incubation-investment-industry networks, the ministers expressed their satisfaction with the formal launch of the Renewable Energy Technology Action Platform (RETAP) in August 2023. Additionally, they expressed their contentment with the progress that is being achieved by both parties in accordance with the RETAP system.
The two nations expressed their enthusiasm for working together on the establishment of a new National Centre for Hydrogen Safety in India as well as a partnership on the 2nd International Conference on Green Hydrogen, which took place from 11 to 13 September 2024. The ministers noted the extended bilateral expert exchanges on clean hydrogen research and development, attempts to reduce costs, and the deployment of hydrogen hubs in both countries through RETAP, which is the public-private Hydrogen Task Force. The work that is being done to employ green hydrogen in buses, tractors, and other heavy equipment was also welcomed by the ministers.
The ministers emphasised how important it is to promote the integration of renewable energy sources on a broad scale into the grid while also enabling grid operations that are flexible and reliable through the use of energy storage mechanisms. Regarding the formal launch of the public-private Energy Storage Task Force, which aims to address policy and regulatory frameworks, safety, manufacturing and supply chains, and innovative business models; focused RETAP efforts on long-term energy storage and alternative chemistries to Li-ion technologies.
Sustainable Aviation Fuel
These two nations came to an agreement to provide a boost to environmentally friendly aircraft fuel. An inaugural workshop on sustainable aviation fuels (SAF) was held to support training on research and development, tax incentives, supply chain capacity building, market development, financing opportunities, fuel certification, regional and international coalition building, and the facilitation of commercial partnerships. In this context, the parties expressed their appreciation for the new engagement on SAF. As part of the Biofuels Task Force, the ministers expressed their satisfaction with the preparation of two joint papers on the subject of SAF and biofuels.
Both nations reaffirmed their dedication to enhancing energy efficiency and expressed their enthusiasm for the possibility of working together on super-efficient appliances. The goal of this partnership is to raise efficiency requirements, increase the deployment and production of high-efficiency inexpensive cooling systems, and encourage supply chain diversification.
Well, things weren’t the same as a decade ago, right? From purchasing perishable goods from the marketplace to getting them online within an hour, we have adopted new things along with the changes happening around us.
If you go back to the 1980s, we never thought that we could transfer goods through an electronic portal that literally created platforms for many forms of business from B2B to B2C in marketing fashion, gadgets, groceries, books, home appliances, Beauty, Fitness and other products at affordable rates.
Sometimes, it leaves us with only one choice: purchase certain products online, like heated butter knives, which are only available online and can’t be easily marketable physically. Ecommerce created a trustable platform for products that can be operated online making everything an easy and reliable platform for customers as well as sellers.
We all know that the USA is the second-largest penetrated eCommerce market in the world, following China for the year 2022. In this article, we see the most used eCommerce websites in the USA.
We all definitely made at least one purchase from Amazon in our life, right? Amazon is the world’s largest online retailer in 1995 as an online bookseller by Jeff Bezos in his garage. Speaking of its largest online shopping site, the platform allows you to find literally everything from A to Z.
According to CNBC, in 2017, Amazon was responsible for 45% of eCommerce sales in the US. Besides, the platform offers its own standalone services such as Echo & Alexa, fire TV, Kindle, and Amazon Prime video and music.
Walmart is an American multinational retailer corporation that has headquarters in the US, so typically, people from the US know this platform very well and operate a chain of hypocenters and e-commerce websites.
The company was launched by Sam Walton in 1962 in Arkansas, United States, and is now operating 10,623 stores & 24 clubs all over the world with 46 different brand names.
In fact, Walmart is nothing but Flipkart in India, which looks similar to Flipkart in terms of marketing various products. Surprisingly, Walmart acquired a 77% controlling stake in Flipkart in 2018. The company is functioning successfully not only in India but also in the UK, Central America, South America, China, and Canada.
Almost 95% of US consumers have once shopped in a Walmart store or on its website in the year 2016, according to data published on CNBC.
Target
Name
Target Stores
Founders
George D. Dayton
Founded On
1962
Headquarters
Minneapolis, Minnesota, US
Total Number of Stores Worldwide
1956 (2024)
Website
www.target.com
Best E-Commerce Websites – Target Website
Target is an American big box departmental store chain that is a general merchandise retailer selling products through its stores and digital channels. In this way, US consumers get to purchase various products from nearby outlets as well as from Target shopping sites.
At first, the company was established as a discount division of Dayton’s department store in 1962 and expanded its business in the 1980s with 2000 stores worldwide. Notably, Target is the seventh largest retailer in the US after 1938 stores throughout the United States as of 2021 reports.
eBay is an online portal that facilitates B2B and B2C sales internationally. eBay is nothing but an auction platform that allows users to list items for sale as well as buy goods & services worldwide. eBay was founded by Pierre Omidyar in 1995.
Since eBay is an international online shopping site, without any doubts, eBay has over 19 million US seller accounts with more than 109 million visitors to the website each month. As a result, more than three out of ten users are US citizens, with approx. 66 million mobile users in total.
Aside from that, corporate vendors and full-time entrepreneurs on the eBay platform alone generated over 690,000 jobs, with rural and small-town merchants accounting for more than a quarter of all US sellers.
Home Depot
Name
The Home Depot
Founders
Bernard Marcus Arthur Blank Ron Brill Pat Farrah Ken Langone
Founded On
1978
Headquarters
Atlanta, Georgia · U.S.
Total Number of Stores Worldwide
2,335 (2023)
Website
www.homedepot.com
Best E-Commerce Websites – The Home Depot Website
Usually, we tend to emphasize the home interior, exterior, and other improvements when upgrading your house to a bigger or even more modern one.
As a result, The Home Depot is an American multinational and the largest home improvement retailer in the world, which deals in selling materials associated with home improvement or home decor products. It was co-founded by Bernard Marcus, Arthur Blank, Ron Brill, Pat Farrah, and Ken Langone in 1987.
Home Depot runs more than 2300 stores in the US, accounting for $151 Billion US dollars and a huge contribution to the United States economy in the past two years, making it the world’s largest home improvement retailer.
Robert Kalin · Chris Maguire · Haim Schoppik · Jared Tarbell
Founded On
2005
Headquarters
Brooklyn, New York, U.S.
Total Number of Stores Worldwide
–
Website
www.etsy.com
Best E-Commerce Websites – Etsy Website
Usually, people are inspired by a lot of handmade & craft items and love to wear vintage items. That’s why Etsy is an American eCommerce company that was incorporated in 2005 to create a platform for small businesses to sell their handmade craft or vintage supplies as well as buy a variety of goods.
It was incorporated back in 2015 by the joint efforts of Robert Kalin, Chris Maguire, Haim Schoppik, and Jared Tarbell. Etsy became the most popular online retail store ahead of Home Depot and Target, connecting more than 82 million buyers to 45 million sellers and generating $15 billion in sales as of 2021.
USA E-Commerce Sales
Lowe’s
Name
Lowe’s
Founders
Lucius Smith Lowe
Founded On
1921
Headquarters
Mooresville, North Carolina, US
Total Number of Stores Worldwide
1746 (2023)
Website
www.lowes.com
Best E-Commerce Websites – Lowe’s Website
Being the world’s second-largest home improvement company, Lowe’s biggest competitor is Home Depot, which shares the same customer base in the USA and Canada. Both companies also rank among the most visited ecommerce websites, attracting customers with their online offerings in addition to their brick-and-mortar stores.
Lowe’s was established as an American home improvement retailer in 1921 by Lucius Lowe, who sells home appliances, tools, building supplies, carpet, lighting & ceiling fans, windows, doors, and more.
Since Lowe’s operates a retail chain across the USA and Canada, over $90 million in sales have been generated by US retailers in 2021.
Kroger is the largest supermarket and multi-departmental store operating throughout the United States. It was started back in 1883 by Bernard Kroger. It is a budget-friendly grocery store, where middle-class families make a lot of purchases from Kroger that shop for food like meats at very affordable rates.
Kroger has claimed to be the world’s largest supermarket chain that excelled in adapting to changes & shifts among their target audience and competitors like Walmart.
It is an America-based eCommerce company that facilitates a business relationship between sellers and buyers. Wish became the world’s most downloaded shopping app in 2018, with the majority of consumers being USA mobile users. It was founded by Piotr Szulczewski and Danny Zhang in 2010.
Wish eliminates third parties or intermediates by selling products directly to customers at very cheap shipping rates. In addition, Wish is the third-largest eCommerce company in the United States in terms of sales.
We must have heard of Ikea, which is popularly known even in India, where you could get home furniture, designs, and other decorations at affordable rates and high quality. Ikea is renowned as the largest furniture retailer in the world, which was founded by Ingvar Kamprad in 1943.
Ikea is currently operating its business in over 50+ countries with 422 stores as of the 2021 report. Apart from that, the company has gained nearly 490 million customers who visited online shopping sites in the USA, which impacted a strong performance in FY20, with $4.7 billion USD in total sales.
Business Model of IKEA
Best Buy
Name
Best Buy
Founders
Richard M. Schulze · James Wheeler
Founded On
1966
Headquarters
Richfield, Minnesota · U.S.
Total Number of Stores Worldwide
1,144 (2023)
Website
www.bestbuy.com
Best E-Commerce Websites – Best Buy Website
It has been one of the most popular American multinational consumer electronics retailers since 1966, from the time of its introduction by Richard M. Schulze and James Wheeler. Moreover, the company has ranked in many lists of top companies throughout the years and is the third top online store for electronic sales.
It officially started as an online store in 2000. In 2020, Best Buy is titled the largest specialty retailer in the US consumer electronic retail industry. Besides, the online company has gained a lot of recognition over the years.
The online store is best known for its nationally focused sales and net revenue around the United States of America. As a whole, most American Electronic and Media products are purchased through Best Buy’s official website.
Costco
Name
Costco
Founders
James Sinegal · Jeffrey Brotman
Founded On
1983
Headquarters
Issaquah, Washington · U.S.
Total Number of Stores Worldwide
839 (2023)
Website
www.costco.com
Best E-Commerce Websites – Costco Website
United States of America’s largest chain of member-only big box retail sellers, Costco, is the fifth largest retailer in the world. Often praised for its competitive pricing and wide selection, Costco has expanded its presence in top online shopping sites since its founding by James Sinegal and Jeffrey Brotman in 1983.
Costco is famous for selling branded merchandise at the best possible price for its consumers. In no time, Costo embraced eCommerce and is remembered as a go-to website that offers unlimited products under different categories.
A new Costco Grocery service, launched in October 2017, delivers nonperishable goods two days a week and provides free shipping on orders over 75 dollars. And over the years, Costco has seen a tremendous increase in profits, especially in eCommerce.
Wayfair is an online American eCommerce company. It is best known for selling furniture and home goods online. It was founded by Nirav Shah and Steve Conine in 2002. The e-commerce company offers over 33 million products from around a thousand global-level suppliers.
And in 2022, Wayfair is almost set to open its first physical retail store in Lynnfield. Wayfair has superb expert customer service, from the latest tools to making shopping easier than ever expected.
It stands first for helping everyone online with things related to home. The bottom line is that Wayfair is the destination for people who love to create their own spaces.
Mercari
Name
Mercari
Founders
Shintaro Yamada, Ryo Ishizuka, Tommy Tomishima
Founded On
2013
Headquarters
Minato, Tokyo, Japan
Total Number of Stores Worldwide
–
Website
www.mercari.com
Best E-Commerce Websites – Mercari Website
Mercari might be a Japanese eCommerce company, but the majority of its revenue and headquarters are from the United States. The key feature of Mercari is its marketplace app, which was launched in Japan in 2013 as a community-powered marketplace. And subsequently, it flourished in America in 2014, followed by the UK in 2015. Shintaro Yamada, Ryo Ishizuka, and Tommy Tomishima introduced it.
Mercari has paved the path for various eCommerce retail sellers, whose first product (marketplace app) enables users to buy and sell items on their smartphones in a fraction of a second. On the other hand, it also collaborated with other American multifarious labels, including USPS, UPS, and FedEx.
The Poshmark marketplace, one of the top ecommerce sites, allows users to buy and sell new and used clothing, home goods, and electronics. Currently, there are over 80 million users on the platform, with more than 200 million listings. Poshmark was inaugurated in 2011 by Manish Chandra, Tracy Sun, Gautam Golwala, and Chetan Pungaliya.
It is now one of the leading suppliers of eCommerce shipping solutions. Poshmark brings together physical shopping’s human connection and the scale, ease, and selection benefits of eCommerce for easy, social, and sustainable buying and selling.
Conclusion
The use of eCommerce has increased over time. The USA is the second largest e-commerce market, just after China. Each country has its own list of best working e-commerce sites for its citizens.
The top eCommerce platforms in the United States are discussed above. The list of the platforms includes names like Amazon, Ikea, Poshmark, Mercari, Wayfair, Costco, Best Buy, Wish, Kroger, Lowe’s, Etsy, Home Depot, eBay, Target, and Walmart.
FAQs
Which is a US-based popular e-commerce company?
Amazon is an America-based company that is also known as one of the biggest e-commerce platforms in the World.
Who is Amazon’s biggest e-commerce competitor?
Some of Amazon’s biggest e-commerce competitors are Alibaba, eBay, Walmart, etc.
Which e-commerce platform is best in the USA?
Some of the best e-commerce platforms in the USA are Amazon, Ikea, Poshmark, Mercari, Wayfair, Costco, Best Buy, Wish, Kroger, Lowe’s, Etsy, Home Depot, eBay, Target, and Walmart.
Is Shopify popular in the USA?
In the calculation of Shopify users by country, 70% of Shopify stores are under Shopify USA, with this information we can say that Shopify is popular in the USA.
Which are the most popular websites in the USA?
The most popular websites in the USA include Google, YouTube, Facebook, Amazon, and Wikipedia. These sites consistently rank high in terms of traffic and user engagement.
Which are the most visited e-commerce websites?
The most visited e-commerce websites globally include Amazon, Alibaba, eBay, Walmart, and JD.com. These platforms consistently attract high volumes of online shoppers due to their diverse product offerings and convenient shopping experiences.
If you are still looking for a job, here’s some good news for you! The United States is home to over a million different companies – and while many of them are small startups, others are well-known brands – Amazon, Apple, Disney, and Starbucks, for example. Many of these businesses have been around for a long time, some for more than a century. If you’re looking for a job and would like to work in a certain field ranging from tech to healthcare to hospitality and so on, there are many industries you can choose from. Here’s a look at some sectors with the greatest potential for growth through 2022.
There are many reasons to consider a career in the healthcare industry, but chief among them is demand. According to the Bureau of Labor Statistics, approximately 18 million new jobs will be created between now and 2022. Some of these positions will require formal education, such as registered nurses and physicians, but others do not. In addition, Healthcare support occupations — including home health aides — are expected to grow by 28% during this period.
Many people think of doctors and nurses as the main providers of health care. Still, many other types of professionals can enjoy good salaries and job security. Those interested in medicine but don’t want to spend years in medical school consider becoming a physician’s assistant or nurse practitioner. Also, think about becoming a pediatric nurse practitioner or a pediatrician’s assistant if you like working with kids.
If you don’t want to practice medicine, consider teaching. There is a growing demand for assistant teachers who help to train nursing students.
E-commerce
e-commerce Estimated Revenue In The United States
The consumerization of technology, new online payment methods, and the proliferation of mobile devices has accelerated the pace of e-commerce. The trend is clear — more and more people are shopping online every year.
E-commerce is in the midst of a major transition. Just a few years ago, most e-commerce was conducted through desktop browsers. In 2022, according to Forrester Research, e-commerce will account for 11% of all retail sales, and 80% of that will be conducted via mobile devices.
This means that brick-and-mortar stores will have to adapt to an increasingly mobile world, and that means investing in mobile apps and other technologies designed to support commerce on the go.
eMarketer forecasts that U.S. e-commerce sales will surpass $600 billion by the end of 2022 — a 20% increase from the 2018 year — and will account for more than 18% of all retail sales in the country.
Renewable energy Production Consumption in The United States
Among the fastest-growing sectors in the world – renewable energy is an industry like any other. It can make or break a country’s economy.
Renewable energy sources include solar, wind, hydroelectricity, biomass, and geothermal. These industries have been growing greatly over the past decade and will continue to grow in the coming years.
The industry is booming, which means that the best people are already working there. However, those who want to make a difference will find it highly rewarding.
The renewable energy industry is expected to grow at an annual rate of 22% in 2022. That includes solar power, wind power, biofuels, and other sources of green energy. So, even if you’re just starting, you can get into the renewable energy industry.
Computer Systems Design and Related Services
Revenue of computer systems related services NewYork
Computer systems design and related services companies help other businesses with computer networking, maintenance, programming, and other associated services. The computer industry has already seen substantial growth in recent years. Still, the future looks even brighter as more businesses rely on computers for their daily work.
Employment opportunities in this field are expected to be particularly strong for those with a bachelor’s degree or higher because many companies prefer to hire individuals who have completed an accredited program. The industry has grown speedily in the last few years at an impressive rate of 5.3%. This rate is expected to grow even faster in 2022 and beyond.
According to the BLS, computer systems design is one of the fastest-growing jobs in America. The growth will be driven by businesses that want to make their operations more efficient and lower costs by outsourcing computer-related services.
Employment in this industry has grown an average of 6.4% annually since 2010. Its projected growth rate for 2022 is more than four times that. The Bureau of Labor Statistics report says the computer systems design industry is set to grow by 22% in 2022, increasing the number of jobs to 1.2 million. In addition, the industry pays an average salary of $95,270.
Education
Educational Support Industry in The United States
The education industry is a great industry due to its stability and room for growth. Many jobs in the education industry are necessary and cannot be outsourced, which means that plenty of opportunities exists in this field. Consider taking a course or degree related to teaching, human resources, or school administration to get into this industry.
Experts predict that education will stay hot next year thanks to shifting demographics and technology.
With baby boomers retiring and the economy improving, an estimated 3.2 million jobs will be added to the American workforce by 2022. That’s a lot of new workers, but it’s not all good news: According to a report from Georgetown University, 65% of jobs will require post-secondary education.
According to BLS projections, education services will also grow substantially over the next 10 years. Thus, if you have an idea for a teaching tool, or other education-related product or service, now may be your chance to pursue it.
The tourism industry is one of the most exciting industries that one to get into. As people become more wealthy, they become more willing to spend money on leisure activities and experiences rather than products. People tend to spend money on experiences rather than products.
To provide these experiences, the tourism industry needs a lot of employees. For example, it needs tour guides and other staff members to run its tours. It also needs marketers, logistics staff, and customer support personnel to ensure that its customers have a good time.
Tourism and leisure are expected to experience the most growth of any industry in the U.S. over the next decade. Analysts expect it to add more than 1.2 million jobs between 2016 and 2026, with an average annual increase of 2%. It’s already one of the nation’s largest industries, employing roughly 11 million people in 2017, according to the Bureau of Labor Statistics (BLS).
In addition, as the importance placed on experiences continues to grow, opportunities within the tourism industry are likely to increase as well. This means that you are likely to have good job security in this industry.
Artificial Intelligence
The future is here. If you want to be part of the next generation of tech, AI is the industry that is shaping the near future.
If you’ve ever asked Siri or Alexa a question, used Google Maps to get somewhere, or bought something online based on a product recommendation, you’ve tapped into the power of artificial intelligence. This technology uses software and algorithms to solve problems that once required human intelligence. And it’s only going to get more sophisticated in the future. By the end of 2022, AI will help companies increase their productivity by 40%.
A few big players lead the way for AI – IBM and Microsoft have large investments in AI research and development. But smaller companies are also making waves in this field: In 2017, Apple became one of the first tech giants to focus on ethics in AI Companies like Facebook are developing their own AI programs for chatbots and product recommendations, while DeepMind is researching how AI can predict diseases before they start.
Artificial intelligence (AI) is a broad research field applied to many industries. AI is often defined as machine intelligence that mimics human thinking and decision-making to solve complex problems. According to an April 2017 report from McKinsey Global Institute, artificial intelligence could contribute $13 trillion to the global economy by 2030.
Conclusion
These are the best industries to get into. Your future career is waiting for you. These were some of the few great industries that will continue to grow strong in the years to come. Are you still on the fence? Consider each of these fields further and reach a decision that best fits your career aspirations. Good luck!
FAQs
What are the top industries for employment opportunities in the US?
Top industries that have huge job opportunities in The United States are:
Healthcare
E-commerce
Renewable Energy
Computer Systems Design and Related Services
Education
Education
Tourism
Artificial Intelligence
What jobs are most in-demand in the US?
The most demanding jobs in the US are:
Registered Nurse
Software Engineer
Information Security Analyst
Occupational Therapist
Web Developer
Data Scientist
Solar PV installers
Wind Turbine Service Technician
What is the biggest industry in the US?
The top three major industries in The United States are:
In only a few years, these 20 something digital entrepreneurs have created some of the fastest-growing and most interesting companies in the United States, ranging from social media to moving boxes. Even more impressive is how the big tech boys turned some down before they found success elsewhere. These top Top Young Digital Entrepreneurs are the names you need to know – because, in the next 10 years, they will dominate. Here are 10 young digital entrepreneurs who have made a name for themselves in different industries, from tech to fashion to entertainment.
Age: 28 Profession: Singer-songwriter and Entrepreneur
Bieber dropped out of high school to pursue music. Instead, he had a meteoric rise — in less than a dozen years, he has sold over 150 million records, won multiple Grammy awards, and achieved platinum status for seven of his albums.
Canadian Singer has created an online empire with a social media following of nearly 250 million fans across his channels. He has also been a regular on celebrity lists of the world’s highest-paid celebrities.
In 2015, Biebs teamed up with venture capitalist Scooter Braun to launch the entertainment company Shots Studios, which houses digital brands like Shots and Wild’ N Out. The company has raised over $80 million in funding from investors like Amazon’s Jeff Bezos and Fidelity.
Who doesn’t know Kylie Jenner? The super famous and most followed celebrity on Instagram after Cristiano Ronaldo. Kylie Cosmetics was launched in 2015 and was one of the first digital-only brands to make a splash. Jenner began by live-streaming herself applying makeup and sharing the process with her fans on social media. Since then, the brand has gone from strength to strength, selling almost $200 million worth of products in its first year.
Even though Jenner is now among the world’s richest people, she still works closely with her team to develop new products and create an immersive brand experience for consumers. In addition, she regularly shares videos on YouTube showing fans how to use her products and posts content featuring her favourite shades.
Age: 29 Profession: Co-founder and CEO of Snap Inc.
Evan Spiegel is the CEO of Snap Inc., which he co-founded in 2011 with Bobby Murphy and Reggie Brown. The 29-year-old is one of the only a few self-made billionaire in the world.
Before he was 20, Spiegel had already dropped out of a prestigious Stanford design program to co-found Snapchat. He reportedly turned down a buyout offer from Facebook in 2013 for $3 billion, which has helped him earn an estimated net worth of $4 billion. In 2017, Snap went public with an initial public offering (IPO) that valued the company at more than $30 billion.
Snapchat has been credited with making many popular features that other social media apps have since copied — like Stories, filters, and face-swapping. However, it’s also known for its controversial content policies — its NSFW search function allows users to find photos posted by adult entertainers who use the platform to share their work.
Natalie Franke
Age: 29 Profession: Founder of Rising Tide Society
Natalie Franke is the co-founder of Rising Tide Society, a global community of creative entrepreneurs. With over 200 chapters and 35,000 members in 22 countries, Rising Tide Society is one of the fastest-growing entrepreneurial communities globally.
Rising Tide Society hosts monthly meet-ups called Tuesdays Together worldwide to help creatives grow their businesses. The Rising Tide Society is a startup incubator that organizes meet-ups to educate startups on business strategy, in addition to producing content on its blog, podcast, and weekly newsletter.
Additionally, Natalie is the How I Built It Podcast host who shares stories from entrepreneurs who have built successful businesses.
Josh Buckley
Age: 30 Profession: Founder of MinoMonsters
After a stint heading up business development for Myspace Games and an MBA from Stanford University, Josh Buckley was ready to take on his venture. The result: MinoMonsters, a wildly popular app that allows users to collect monsters and play with other users worldwide. The company is now valued at $50 million.
MinoMonsters is a mobile gaming company that creates and publishes original games for the iPhone and iPad.
Buckley founded the company in 2007 and launched its first game, “MinoMonsters,” in January 2012. Its second game, “MinoQuest,” was released in April 2013. The game is a mobile app that features cartoon monster characters that players can catch, train, and battle. Buckley has since sold the company to SingTel Innov8 — one of Asia’s largest venture capital firms — for an undisclosed amount of funding which he will use towards creating more games.
Joey Graceffa
Age: 30 Profession: Content Creator
When you look up the word “entrepreneur” in the dictionary, it usually contains a photo of Joey Graceffa. The 30-year-old has been building businesses since he was 9 years old and selling lemonade on the sidewalk. Graceffa moved to Los Angeles and started a YouTube channel after graduating from high school.
Fast-forward ten years, and he has more than 9 million subscribers on his Youtube channel, 2 million followers on Instagram, 1 million Twitter followers and more than 1.3 million Facebook fans — all of which he used to build an empire as a content creator.
Named one of Variety magazine’s “Top 10 Digital Stars” of 2017, Graceffa’s list of accolades is impressive. He starred in the YouTube Red original movie “Escape the Night,” which won a 2017 Streamy Award for Best Ensemble Cast. Also, he won a Teen Choice Award for his role in “The Storyteller”; authored two New York Times bestselling books (“In Real Life” and “Children of Eden”); competed on CBS’ primetime reality show “The Amazing Race.” In addition, he launched a lifestyle app called Crystal Wolf and launched an accessories line with Hot Topic.
Connor Blakley
Age: 26 Profession: Founder and CEO of Blakely creative
Connor Blakley is a serial entrepreneur from Detroit. Connor Blakley is a young entrepreneur and founder of Blakely and Creators. With over 18,000 followers on Instagram and thousands of visitors to blakelycreative.com, Connor has quickly become a popular name in the influencer marketing space. He’s currently in the process of building his 3rd business. His 1st business was a digital marketing agency, and his 2nd was a clothing brand for entrepreneurs.
Connor is committed to helping the next generation of entrepreneurs reach their full potential by consulting and mentoring them as a part of his goals for the years to come. He’s created an app called “wildcard” that allows other entrepreneurs to get advice from him for free. He’s also creating an accelerator program for young entrepreneurs who are looking to start a business but can’t afford to do it alone.
Blakely Creative has been recognized for its work by Forbes, Inc. Magazine and Entrepreneur Magazine.
Logan Paul
Age: 27 Profession: Youtuber and Entrepreneur
Logan Paul is a 27-year-old YouTube celebrity with more than 23 million subscribers who recently launched Maverick Apparel, an online clothing store featuring hoodies, T-shirts and accessories that he designs himself.
Paul’s popularity is largely due to his posts on Vine. On this social media platform, he has more than 5 million followers on his account and nearly 4 million on the account he runs with his brother Jake Paul (who has nearly 3 million followers of his own). He owns a net worth of $35 Million. Logan has also appeared on Law & Order: Special Victims Unit and Weird Loners and as a contestant on Dancing With The Stars.
Juliet Brindak
Age: 32 Profession: Social Digital Entrepreneur
Juliet Brindak is a 32-year-old social entrepreneur and the founder of Miss O & Friends LLC, who has been on the young digital entrepreneur’s list for years. As an 11-year-old girl, Juliet had the vision to create a website that would empower girls to pursue their passions and inspire each other. Today she is championing the same idea with an innovative platform called MOF (Miss O & Friends), a social networking site created by young girls for young girls.
Currently, there are more than 3 million registered users, ages 6-12, including fun interactive games, quizzes, polls, and blogs. It also offers a content-rich site with original articles on etiquette, manners, anti-bullying strategies, friendship advice, and more. The site also has a network of over 3000 girl bloggers who share their insights on everything from fashion tips to life advice.
Juliet’s platform has been featured in top publications like the New York Times. In December 2011, she was named one of Forbes magazine’s “30 Under 30” movers and shakers in media for 2012.
Marques Brownlee
Age: 28 Profession: Youtuber and Tech Guru
When he uploaded his first YouTube video, Marques Brownlee was a 14-year-old high school freshman. A review of the BlackBerry Bold was a simple clip that showcased his love for gadgets and electronics and his knack for explaining them in a way that anyone could understand.
With more than 15.5 million YouTube subscribers, Brownlee is now one of the world’s most popular technology reviewers. But that’s not all he does. His company MKBHD is a full-blown media outfit focused on creating content about the latest tech news and gadgets and how to make the most of them — from mobile devices to smart home products to gaming gear and beyond.
In addition to reviewing products and interviewing tech leaders, Brownlee has also interviewed some of music’s biggest stars, including Travis Scott and Post Malone.
The list is long, and it has many names on it. Joseph Quan, Twine Tiana Tenet, The Culinistas; Zachariah Reitano, Ro; Brandon Bryant, Harlem Capital Partners; Ahmed Beshry, Caper, Halie Chavez, other young entrepreneurs from different industries are paving the way for people like us who dare to dream and work for it.
Conclusion
Business is changing, and the way we do business is also changing. You’ve probably heard of some of the names on our list of young entrepreneurs in the US. Hopefully, you also got surprised by some of the others. Today, entrepreneurs have never had a better chance to succeed. To do so, though, they’ll have to be creative, hard-working, and above all else-daring. These young digital entrepreneurs in their 20s are leading the way into uncharted territory and, in doing so, creating an entirely new world where there has only been one way to do things. It’s amazing how much impact these young digital entrepreneurs have had on the industry, and it’s also inspiring to see what they accomplished so early in their careers. We fully expect that many will continue to make waves for years.
FAQs
Who are the successful Young Digital Entrepreneurs in the US?
Young Digital entrepreneurs in the US are:
Justin Bieber
Kylie Jenner
Evan Spiegel
Natalie Franke
Josh Buckley
Joey Graceffa
Connor Blakley
Logan Paul
Juliet Brindak
Marques Brownlee
Who is youngest digital entrepreneur in India?
Jeevan Tiwari is India’s youngest digital entrepreneur and the youngest millionaire in India.
Is Kylie Jenner an entrepreneur?
Kylie Jenner is a young entrepreneur, model, and the founder and CEO of an American Cosmetic company, Kylie Cosmetics.
Ever heard of a unicorn? If you are imagining the beautiful mythical creature then you are wrong! Today’s generation has a different understanding of unicorns, thanks to Mr Aileen Lee, who popularized the term in 2013. So, what exactly is a unicorn? It is a private startup company that has a valuation of over $1 billion.
What is more shocking is that there are more than 900 unicorns across the world as recorded till December 2021. It makes you think the world is rich, isn’t it? Some of the former popular unicorns around the world are Facebook, Google, and Airbnb. Did it ring a bell? Well, it should! These unicorns later went on to become some of the largest companies in the world. We are here to look into the unicorns that are currently ruling the US.
Given below is a list of the top unicorns in the United States. We have curated a list of the best startup companies that have made a mark in the US market in a very short period.
SpaceX or Space Exploration Technologies Corp. was founded in 2002 by Elon Musk. Its headquarters are in Hawthorne, California. Musk founded SpaceX with the aim to reduce space transportation costs and to conduct the colonization of the planet Mars. The company has developed a liquid propellent rocket, a spacecraft, and an orbital rocket among its many products. It is on the verge of creating a mega constellation named Starlink for providing commercial internet services.
2. Stripe
Country- United States
Valuation- $95 billion
Unicorn Entry- 2014
Stripe Logo
Stripe is a financial services company that is headquartered in San Francisco. However, it also has another headquarter in Dublin, Ireland. Stripe usually works with e-commerce websites and mobile applications. One of its major achievements includes the introduction of Radar, an anti-fraud tool to block fraud transactions.
3. Epic Games
Country- United States
Valuation- $42 billion
Unicorn Entry- 2018
Epic Games Logo
Epic Games is a popular video game and software development company is headquartered in Cary, California. This unicorn was founded by Tim Sweeney in 1991. It was earlier named Potomac Computer Systems. Its first commercial video game release was ZZT in 1991. It is mostly known for developing the commercially available game engine, Unreal Engine. It is also used to power internally developed video games.
4. Instacart
Country- United States
Valuation- $39 billion
Unicorn Entry- 2014
Instacart Logo
This popular retail company operates both in the US and Canada. Instacart operates a grocery delivery service and a pickup service in both countries. The company’s services are offered through its web and mobile app.
5. Databricks
Country- United States
Valuation- $38 billion
Unicorn Entry- 2019
Databricks Logo
Databricks is a popular software company that was founded in 2013. The creators of Apache Spark created this unicorn with the aim of creating multiple open-source projects. Most of them spin around data science, data engineering, and machine learning. It mostly develops and sells cloud data platforms.
This financial technology company provides free mobile banking services owned and provided by Central National Bank or The Bankcorp Bank. It issues Visa debit cards to the account holders and they also get access to the online banking system. The company earns a majority of its revenue through the collection of interchange fees.
7. Fanatics
Country- United States
Valuation- $18 billion
Unicorn Entry- 2012
Fanatics logo
This popular American retailer unicorn, Fanatics was developed in 1995 and is headquartered in Jacksonville, Florida. It mostly deals with sports merchandise, equipment, and sportswear. Founded by Alan Trager, Fanatics proudly boasts of having connections with over 1080 product vendors and companies like Majestic, Adidas, Reebok, Nike, and more.
8. Gopuff
Country- United States
Valuation- $15 billion
Unicorn Entry- 2020
Gopuff Logo
This food delivery company operates not only in the US but also in England. Its headquarters are currently in Philadelphia. The unicorn boasts of operating in over 650 cities in the US. You will also be shocked to know that the company’s worth as of 2021 is $15 billion. It makes for a huge amount, isn’t it?
9. Plaid Technologies
Valuation- $13.4 billion
Unicorn Entry- 2018
Plaid Technologies Logo
This is also a fintech startup that is headquartered in San Francisco, California. It is responsible for building a data transfer network that is known to power Fintech and other digital finance products. The company also hosts a technology platform that enables the applications to connect with the bank accounts of the users. Apart from the US, Plaid Technologies also operates in the UK, Canada, Spain, France, Ireland, and the Netherlands.
10. Grammarly
Valuation- $13 billion
Unicorn Entry- 2019
Grammarly Logo
Who doesn’t know Grammarly? This popular cloud-based writing assistant has helped millions of users around the world correct their grammar and tone. It uses a special AI method to identify mistakes and search for an alternative for those words in the platform. It was initially released in 2009 and remains one of the most popular writing assistants in today’s world. Right from reviewing spellings, punctuation, grammar, engagement, and clarity, it looks for everything in content.
It is another popular eCommerce platform based out of the US. Users can shop from over 40,o00 independent brands through Faire’s website. It acts as a wholesale marketplace for both brands and retailers. It mostly helps the retailers find and buy unique merchandise as per their demands or requirements.
12. Brex
Valuation- $12.3 billion
Unicorn Entry- 2018
Brex Logo
This technology company deals in financial services and is headquartered in San Francisco, California. It not only offers cash management accounts but also business credit cards to other technology companies who require them. The cards offered by Brex are business charge cards and are issued by the Emigrant Bank.
13. JUUL Labs
Valuation- $12 billion
Unicorn Entry- 2017
Juul Labs Logo
It is an electronic cigarette company that was carved out of Pax Labs a few years ago in 2017. The electronic cigarette made by JUUL labs atomizes the nicotine salts that are derived from tobacco. Moreover, one-time-use cartridges are used to provide the products for the same. This popular company headquarters is in San Francisco. If you are not aware, JUUL even became the most popular e-cigarette in the US back in 2017.
Conclusion
With the advent of growing competition in the market, unicorns are striving hard and leaving no stone unturned to remain in the field. This is happening in every part of the world and the US seems to be leading the way here. Multiple unicorns have already reached heights of success while a few others have just entered the market. Only time will tell what lies in the fate of these non-mythical, real unicorns that are currently running for success and fame.
FAQ
How many unicorns are there in the United States?
There are approximately 487 Unicorns in the USA.
Which city has the most unicorns in the United States?
San Francisco has the most unicorns with a total count of 203 unicorns.
How many unicorns are there in the world?
As of January 2022, there are more than 1000 unicorns in the world.
South Dakota has been much in the news for its half a trillion dollars worth of assets in recent years. It is considered as the US next haven! Impressive, right? As per the FDIC’s bank statistics report, South Dakota ranked first with $3.13 trillion as of the commercial and saving bank assets, widely ahead of Ohio with $2.96 trillion.
According to the South Dakota Department of Labour and Regulation, trust companies held around $175 billion in assets which was an increase of 45% from the last two years. These trust assets are utilised mainly for the rich people to safeguard their wealth for a longer duration. And in South Dakota, these trusts are growing with an exponential graph, mainly because of the country’s permissive trust laws.
But the actual question that arrives here, is how does South Dakota hold such a massive amount of assets? Previously, in October, Pandora Papers (millions of financial records) got in the hands of journalists. Within which, the state data showed how South Dakota held half a billion dollars of assets in its trust.
And that’s what we are discussing in this article in brief. So, let’s get started!
Nearly four decades ago, the state adopted a few of the key laws in its financial systems, which are: Eliminated cap on interest rates for lending and No expiry period on trust laws.
This majorly drives the attention of the financial industry towards the state. The state has zero tax income which makes it one of the most popular spots for people who want to pass their assets to the future without any liability of estate taxes. Ever since then, South Dakota has been gaining huge clients.
The Pandora papers revealed how the politicians and businessmen have been transferring their wealth into U.S. trusts funds, saving them from paying taxes or getting directly involved in any deals.
U.S. Low levied Tax Rates
“The U.S. is widely known as the world’s best place for dumping hot money,” said Heller. The main reason behind this is the no rule for reporting foreign assets to the respective countries for the investors.
With the extremely smooth and lenient banking system of the United States, wealthy families and businessmen come here to gain the same level of privacy that they previously got from places like Switzerland.
This makes the United States the second-ranked Tax haven in the world, as per the report of Tax Justice Network. And states like South Dakota and Nevada, are widely considered as the most attractive spot for people who dodge taxes.
Pandora papers have revealed many major facts regarding the assets and taxes in the U.S.A, among these, one was South Dakota being a tax shelter for wealthy families and businessmen. The state is considered the main attractive spot for foreign assets.
The report revealed that South Dakota has over quadrupled to $360 billion in the past decades.
The lawmakers of South Dakota have drafted the legislation by the trust industry insiders which gives them great protection and benefits over the trust funds to the trust customers all across the United States and foreign countries.
The biggest flex for the rich people is the state’s ban on the “rule against perpetuities”. This builds a very safe space for the wealthy families to establish their dynasty trust and let it go on forever, without any burden of estate taxes.
Trust Assets in South Dakota
Zero Income or Estate Tax over Trusts
Another biggest reason for wealthy families and business people to set up their trust in South Dakota is because of its extremely lenient tax rules. The state does not have any income or estate tax over the trusts. Yes, it’s very true!
All the funds placed in the private trusts are not bound with any return of income tax by the state. South Dakota does not ask and collect the income generated through these trust funds, even if it’s in the count of billions.
Alongside, the state does not ask for any estate tax, even after the death of the owner.
The people of South Dakota’s law does not necessarily need to invest in any local trust in order to live in the states. Although the investors are lying around the states with billions of trusts funds, they do not directly contribute to any sales or estate tax revenues.
Being one of the most attractive spots for wealthy families and business people, South Dakota is counted among the top tax havens in the United States. The people living in the state earn good benefits from the lenient trust laws of South Dakota.
In fact, the state is expected to experience the biggest wealth transfer that ever occurred in the history of mankind. And because of this only, the trust companies in South Dakota have been growing the job market within the state over the past few years. South Dakota does benefit from its trust laws and so are the rich people living in the state.
FAQ
Are taxes high in South Dakota?
No, South Dakota is one of the lowest tax state in United States.
What states are considered tax havens?
South Dakota and Nevada are considered as tax havens in United States.
The debt of the United States is the national debt that is controlled and acquired by the federal government of the U.S. to the Treasury security holders. According to the report by March 2021, the United States debt crossed over $28 trillion. This came to be so high that this was more than the economic production of the US calculated annually.
With the history of so many years, US debt has been increased by the slump that lowered the tax revenue. However, the Congress government has spent a lot more than this to facilitate the economy over time.
Besides, other services such as the Military have proven to be one of the biggest contributors who have been used for the benefits of medical care and others. And with the world pandemic in 2020-21, the spendings on the counterbalance of the situation has added more to the debt. But the good thing is, all this will be resolved once the pandemic ends.
Till then, other methods such as increasing taxes and a tight budget could help in reducing the debt. And this wide combination of budget growth, tax cutoff and recessions have brought the national debt-to-GDP ratio to a record level. But when there is a problem, to solve it, we have to face some consequences. And so the United States government would have to face the economic consequences.
In this article, we will discuss a case study on the U.S. debt and its GDP. Let’s get started.
The relation of the gross domestic production (GDP) with the national debt of the US has been rising since 2016. And the estimated data shows this would continue till 2026. The graph from 2016 to 2019 has been pretty high in the projection. By the record of 2019, the United States national debt was estimated to be around 108.19% of the GDP.
Total Public Debt as Percent of GDP
United States Finances
The national debt of the United States has had several ups and downs but since the 90s the graph has kept rising. And so as the public debt, which is known as the total money borrowed by the nation to facilitate and cover up the budget deficits. However, the monthly records of debt have been quite stable.
Even after the recession of 2008, the national debt of the United States has proven to be pretty steady and progressive. And the estimations have shown, it will keep rising in the upcoming years. Although the budget cuts and the lower employment opportunities have hurt the American economy, which is still recovering from such a crisis. Therefore, the national debt of the US, as well as the national debt of US per capita, has quadrupled since the last 1990s.
Besides the excessive progress, the national debt of the United States is still not counted among the top 10 highest national debt countries with relation to its GDP. However, countries such as Italy, Japan and Greece have far more figures than the US.
The ratio of debt to GDP
The Debt-to-GDP ratio of a country is calculated as the ratio between the country’s national debt and its Gross Domestic Production (GDP). This ratio measures the country’s currency and is calculated every year. When the Debt-to-GDP ratio comes low that shows that the country is sufficient enough for producing and selling different goods and services and it does not require any further debt for this purpose.
Moreover, many other factors such as wars, interest rates and recessions also affect the debt acquiring and borrowing rates and its choice to incur more debt. However, the countries with the high Debt-to-GDP ratio face different crisis and its recovery takes time. The Debt-to-GDP ratio impacts the country’s economic situation.
Soon after the revolutionary war of 1790, the united state government initiated its footsteps towards the debt. And after the 1790s, the debt has acted as the major help in times of war or economic recession for the U.S. government over centuries.
However in the period of deflation which is known for decreasing the debt size. But, actually, the real worth of debt is enhanced during this period. In the deflationary period, the money value is heightened while the access to loads of money becomes tougher.
According to the record of 2020, estimated by three Congressional Budget Office, the public debt was equal to 98.2% of the GDP. Later, it reached up to 99.4% and 105%. This was the peak of the debt-to-GDP percentage since 1946. In the 1970s, the debt faced several periods, and it stood stable.
But, from the beginning of the 1980s, the debt rose drastically. This was seen till the early 1990s, When the U.S. was under the presidency of Reagan and Bush. However, the ratio came down to 30.9% in 2001. But under the presidency of George W. Bush, it rose again.
Later, the U.S. faced several financial crisis and suffered the Great Depression period as well. This brought a major uprise in the debt percentage and during the presidency of Obama, the debt rose to 75.9% of GDP in 2008 and then, in his second term in 2016, it raised 73.3%.
America’s debt vs GDP
When a country’s debt is estimated it comes incredibly high. And in a country such as America, the value is quite large. However when the national debt is compared with the annual GDP, then only the financial deficits of a country could be measured.
The American debt went stable till 2007, but a drastic change was seen during the global financial crisis period. During this time in 2012, the debt rose to 95% of the GDP. After this, the debt kept on rising. And, during the pandemic of 2020 and 2022, the GDP percentage crossed over 100%.
The United States has faced such an economic situation before also in the 1970s. And, now with the debt of over $27 trillion which includes some mandatory spendings such as health care which requires around $2.7 trillion. The total revenue’s 50% comes from the income taxes of an individual.
The pandemic has made things more delicate and tough and until it is completely over, the economic crisis will continue along with the rising debt-to-GDP ratio. Well, in this article, we briefly discussed the American debt and its cooperation with the GDP.
FAQ
What is the current debt of United States?
The current U.S. debt is $23.3 trillions as of 2020.
Which country has no debt?
Brunei is one of the countries with the lowest debt. It has a debt to GDP ratio of 2.46 percent among a population of 439,000 people.
How much is the world in debt 2020?
The global debt total is at all-time high of $281 trillion by the end of 2020.
During the administration of Donald Trump, the United States of America had barred a lot of Visas and had bought a lot of regulations on the immigration by the foreigners to the country. People from all around the world found it difficult to immigrate into the United States under the Trump administration.
Recently Joe Biden has reopened the doors for the foreign entrepreneurs through startup visas. Let’s look at what exactly is a startup visa.
The door for the foreign entrepreneurs to enter the United States of America has been reopened under the administration of Joe Biden. The US Department of Homeland Security (DHS) had announced that it is withdrawing a proposed rule which was issued under the administration of Trump.
The withdrawn proposed rule was to remove the International Entrepreneur Rule (IER) which is more commonly known as the Startup visa programme.
IER is also known as startup visa. This will act as a permit for the foreign entrepreneurs to enter the country and stay in the country for a period of 2.5 years and also has a possibility of another extension for a similar period of time.
Eligibility for Startup Visa
IER or the Startup visa will let entrepreneurs who are qualified which will be based on certain conditions such as funds raised which should be a minimum of USD 250,000 if it is from a qualified US investor or USD 100,000 which should be through government grants.
If they meet the above criteria the entrepreneurs will obtain the immigration parole. The immigration parole will let the entrepreneurs to temporarily enter the country to stay, build and develop their startup even without having a green card or a working visa.
DHS has stated that the withdrawal of the policy is an effort of the Biden’s administration to ensure that all the ways available under the law should be available for the ones who are trying to come to the US which includes the qualified entrepreneurs who would come to the US grow their startups that would benefit the country by growing their business and creating new jobs for the workers.
Fiona McEntee who is a Chicago based immigration attorney has conveyed that, she is thrilled that the Biden administration has decided to implement the IER and added that the current immigration system does not provide an option for the foreign entrepreneurs to enter the Country which provides a competitive disadvantage and IER is expected to fill that gap. She added that the country will have to do what it can in order to retain the innovative immigrant entrepreneurs.
Immigrant Entrepreneurs in the US
Bobby Franklin who is the President and CEO of the National Venture Capital Association has said that the immigrant entrepreneurs in the country have made huge contributions to the economy of the US. The entrepreneurs have created some of the major companies in the country such as Moderna and Pfizer which have successfully developed vaccines for Covid-19.
He added that by implementing IER the Biden Administration has unlocked a way for job creation which would help US in remaining as a global leader in innovation.
Other advantages of the Startup Visa
The foreign entrepreneurs even the ones from India will have an added advantage because of IER. Other than the advanced technology that is available in the United States even when the founders of the company are present in the same country, the US investors would have a comfort level.
Hence, with a US base, the access for funding and the future for the growth of startups especially the tech-based startups would be much more easier. It is a win-win situation for both the parties.
According to an early representation made by the National Venture Capital Association and other associations to the DHS, the IER is expected to create more than 4.29 lakh jobs in the first 10 years which would account for more than USD 25 billion in the form of additional wages and will also inject the indirect value of around USD 18 billion to the US economy.
FAQ
Which countries have startup visa?
Australia, Austria, Canada, Chile, Denmark, Estonia and France are some of the top countries that have Startup Visa.
Which country is best for entrepreneurs?
Japan, Germany, United States, and United Kingdom are some of the best countries for entrepreneurs.
Which country has most successful startups?
United States, China, India, and UK are some of the countries with most Unicorn startups.
Conclusion
Countries such as Canada, UK and Israel already have a separate category of visas for foreign entrepreneurs. The IER was originally created at the end of Obama’s administration but was later stopped under the Trump administration.
Google Pay is a digital payments app that is a subsidiary of Google. Google Pay is a digital wallet that was initially released in the year 2015. It is one of the most commonly used digital wallets in India. Recently the company has announced that it would let users to send money through Google Pay from US to India and Singapore. Let’s look at the further details of this new feature offered by Google Pay.
Google Pay has announced that it would let users in the United States to send money to their friends, family and relatives in India and Singapore. This is an official mark of the entry of Google Pay into the remittance service market.
According to World Bank, India is one of the biggest overseas remittance receivers even though in the year 2020 the country had seen a drop in the remittance received of around 9% to INR 5,58,100 crores due to the global economic slowdown and the coronavirus pandemic.
There has been a rapid growth in the foreign remittances with the increase of migrant workers in the developed countries across the globe.
Banks that are eligible to Transfer money through Google Pay
Google has partnered with Western Union and Wise in order to provide the new service through the Google Pay app. Google had conveyed in a blog post that Western Union will offer free transfers while sending money through Google Pay until the 16th of June.
Google has also conveyed that Wise will provide free transfer only for the first time the customer sends money through Wise on transfers up to USD 500 (around INR 36,700). However, Google has not yet officially announced the exact transfer fee that will be charged by the service provider after their series of free transfers.
Limitations of Money Transfer through Google Pay
One of the major limitations of this new foreign transfer feature or service provided by Google Pay is limited only to two countries that is India and Singapore. However, the tech giant has conveyed that by the end of the year they have plans to expand their services to around 280 countries globally.
Another important point to be noted is that the foreign transfers through the Google Pay app are limited to individual users. This means that the new feature doesn’t let the individuals from the United Statestransfer money to any business organizations in India or Singapore.
Another important point to be noted is that users from India will not be able to transfer money to the United States. This feature or service will be available for the US users using Google Pay app.
Steps to Transfer money from US to India through Google Pay
Here are the steps to be followed for the users who would want to send money from the US to India or Singapore.
Step 1 – To send money through Google Pay, firstly you will have to search the user on the Google Pay app.
Step 2 – Tap the pay button and choose either Western Union or Wise.
Step 3 – You will have to ta continue and see the exact amount of money that the recipient will receive.
Step 4 – Again Tap continue and choose how would you want the recipient to receive the money, you will be able to choose between UPI or through cash pickup.
FAQ
Does Google pay require a bank account?
Yes, Google Pay requires a bank account.
Is Google pay available in USA?
Google Pay is available in USA and You can also send money from US to India.
Can I send money from USA to India using Google pay?
Google Pay will now let users in the US to send money to their friends and families in India and Singapore.
Conclusion
The new service would enable the tech giant to mark a spot in the foreign remittance market. The company plans to expand to more than 200 countries and territories to Western Union and around 80 countries through Wise by the end of this year.
Joe Biden is the newly elected President of the United States of America. He is the 46th President of the United States and is considered to be the best President for stock market traders compared to the President’s of the last 75 years. Let’s look at why Joe Biden is considered to be the best President for the traders.
In the first 100 days of Joe Biden’s Presidential rule in the United States, the stock market of the country has provided better returns compared to any other President from the past 75 years. The data was provided by JP Morgan.
JP Morgan’s analysts that were led by John Normand reviewed the administration performance of Joe Biden since the day of the inauguration and discussed on how the various policies on tax and the programmes related to spending could move the markets in the coming months. This was discussed on 23 April 2021 in a note to the company’s clients.
The analysts said that the record fiscal stimulus had increased the returns on equity to all-time highs in the first 100 days of Joe Biden’s rule. They added on to the note saying that the results are not bad for Biden whom Donald Trump had labeled as Sleepy Joe during the election campaign.
Returns
The returns provided by the S&P 500 after 100 days of Joe Biden’s Presidential rule are around 25% for the first 100 days from the day of inauguration. When compared to the returns received after the former President Donald Trump’s Presidential rule was below 15 % for the first 100 days from the day of inauguration.
The data from JP Morgan showed that the average S&P 500 returns on equity of the Democratic Presidents were more than double the average returns provided by the Presidential rule of Republicans since the end of World War II.
The highest returns which were received by any President for the first 100 days mark previously was by President John F Kennedy which was more than 20 %.
JP Morgan added on saying that the Biden’s policies since the day of the inauguration have benefited the market. This was because the proposed policies of Joe Biden were undoubtedly positive. Joe Biden has also planned to increase the capital gains to nearly double as much as around 43 % for the wealthy Americans.
The JP Morgan team said that there would be a drag on the market in the year 2021 due to the hikes on the taxes for corporations and individuals in order to fund spending on social and infrastructure with a strict regulatory environment.
Earnings
The JP Morgan team added that they did not expect that the increases in the tax would cause a big dip in the earnings. The view since the campaign of 2020 has been that a higher rate on corporate is expected to reduce the Earnings Per Share of S&P 500 by many dollars.
But within a sudden growth in the earnings environment which is because of the higher tax rates and the reopening because of the vaccine drives. The strategists of JP Morgan with regards to the US equity have checked and expanded the original analysis this week which shows that there is no change to the target of the 4400 mark by the end of this year in the S&P 500.
JP Morgan said that an increase in the capital gains tax rate in 1986 from 20% to 28% and 2013 from 15 % to 25 % had led to about 5 % drawdowns in a month in the equity market before the new codes coming into effect.
But the analysts said that it is a sample size that is smaller and the Tax Reform Act of 1986 had lower individual and corporate rates. The analysts added that overall, from the Biden’s tax policies they expected that it would increase a continuous rotation into the value based stocks that would be far from the big growth companies and the tech companies. This would be instead of a downturn in the market.
The president of America is paid a $400,000 a year; on top of that, they receive an extra $50,000 expense allowance, a $100,000 non-taxable travel account and $19,000 for entertainment.
How old is Joe Biden?
The age of Joe Biden is 78 years.
Who is the wife of Joe Biden?
Joe Biden’s wife is Jill Biden.
Conclusion
The view of JP Morgan has been supported by the UBS Global Wealth Management. They have informed their clients in a note in the month of April that they had not found any correlation between the valuations of equity markets and tax rates on capital gains.
Apoorva Bajj
