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Consider the US Market

 IMG_0318The United States has implemented or entered into force 14 Free Trade Agreements – with a combined population of over 560 Million consumers and a combined GDP of $5 trillion dollars.

IMG_0320The US remains a good place for business because :

  • it has access to venture capital & private equity (source : #1 Ranking: IESE Business School’s 2009-2010 Venture Capital and Private Equity Index),
  • it is attractive for Foreign Direct Investment (source : #2 Ranking: AT Kearney’s 2010 FDI Confidence Index),
  • it is Globally Competitive Economy (source : #4 Ranking: World Economic Forum’s 2010-2011 Global Competitiveness rankings),
  • it has Governments Appreciative of Business (#5 Ranking: World Bank 2010 Ease of Doing Business Report),
  • it has Intellectual Property Rights Protection (# 3 Ranking: The International Property Rights Index’s 2011 comparison of Intellectual Property Rights Protections).

Protections for patents and trade secrets in the U.S. are among the strongest in the world.  In 2010, over half of patents in the U.S.  were issued to foreign firms. Foreign Corrupt Practices Act applies equally to U.S. and foreign firms and individuals. Committee on Foreign Investment in the US review is not commonly used. The overwhelming majority of FDI in the United States does not result in a CFIUS review.

Because of its attractiveness as a market, over $2.3 trillion of FDI investment has been made in the US.  Of this, 34 percent, or $791 billion, is invested in the U.S. manufacturing sector.

To be successful in the US market, your company must both create AND implement a well-thought out plan.  I hope I’m not being too elementary, but all of us up here today have found that many international companies make 1 of 2 mistakes when entering the US market :

  • they allow themselves to be overwhelmed by the task
  • they do not adequately prepare themselves

As in everything, it is necessary to create a plan for your business expansion, and then work according to that plan.

It is absolutely possible to be successful if you take the process seriously and seek out advice from those who have already experienced this type of move, as well as those who have your business interests in mind.

 Source : Based on presentation ‘Doing Business in the USA. New Opportunities Through Trade, Joint Venture and Business Location’ delivered by Scott Hall during ‘doing Business in Virginia’ Conference. Mr Hall is a Business Development Coordinator in City of Virginia Beach, Virginia USA

 

 

 

 

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