Focus on USA
To expand business to the USA is seen by some as a leading ambition and the gateway to riches. Having the world’s largest economy with a GDP of over $17 trillion, which is around 22% of the gross world product, and a consumer market of more than 310 million people, the country offers a scale of opportunity and potential reward a visiting business may not find anywhere else on the planet.
In recent years the country has gone through a long period of change, but with change, comes opportunity. Huge reforms have reshaped the county and with the right ideas, ambitions and approach, the USA remains an attractive a setting as ever for international business expansion.
With an abundance of natural resources, a superpower in terms of technology and infrastructure, and a healthy labour market that helps to support its population of more than 318 million, the country’s demand for products and services is great.
"The country offers a scale of opportunity and potential reward a visiting business may not find anywhere else on the planet"
In addition to this, the United States has a free trade agreement with 19 other countries, which means access is provided to a further 415 million customers for their goods and services, and this foreign direct investment (FDI) has served a critically important service to the US economy.
Such a wealth of opportunity cannot come without hazards to potential investors. The USA is, of course, a nation split into 50 separate states, and this brings a variety of different state and local regulations that demand a good understanding of tax, commercial and labour laws.
The intensity of competition that comes with trying to expand into the USA makes it a complex market place. Therefore, any visiting business needs a deep depth of knowledge of the environment they wish to operate in, or risk being left behind.
Despite the similarities in language and history, doing business in the USA still means operating in a different culture, and therefore brings fundamental differences in protocol and procedure – meaning research and preparation is mandatory to succeed in ‘the land of opportunity’.