The USA is one of the largest, most competitive and technologically advanced economies in the world. Consequently, there is no shortage of reasons why business investors choose the United States. Nevertheless, it is the nation’s diversity and openness what truly allows businesses from all countries and industries to find their place in the market – and thrive.
The country also provides a great ease of doing business. According to the World Bank Group’s annual Doing Business report it is ranked the sixth easiest country to operate a business. Backed by a regulatory environment that is particularly conducive to starting and operating a business, U.S. business culture encourages free enterprise and competition. As a stable democracy with a transparent and predictable legal system, all companies – regardless of national origin – compete on an even playing field.
The economy of the United States is divided into three broad categories including the service sector, the manufacturing sector, and the agricultural sector with the current leading industries being petroleum, steel, motor vehicles, aerospace, telecommunications, chemicals, electronics, food processing, consumer goods, lumber, and mining. Additionally, when it comes to UK exports into the U.S. the top categories in 2018 were: vehicles ($11 billion), machinery ($9.3 billion), pharmaceuticals ($5.0 billion), and mineral fuels ($4.3 billion).
The UK is the biggest single investor in the United States, with British companies having invested more than $645 billion in the U.S., accounting for more than 15% of all inbound foreign direct investment (FDI). Therefore, according to the Institute of Export & International Trade, the unique economic relationship between the USA and UK is not just evident in the trading relationship, but also by the levels of investment in each other’s economies. Both nations are the largest investors in each other’s economies with mutual investment totalling around £609 billion. Furthermore, everyday 1 million Americans work for British companies in America, whilst 1 million Britons do the same for American companies in the UK.
While it is not easy for a British business to expand into the USA, it is relatively straightforward if you have prepared as fully as possible beforehand. It is, therefore, with the purpose of helping you prepare for your next venture that we have organized our “America Made Easy” Webinar in partnership with the Newable Avitus Group, which will take place this Friday, 17th of July from 10 till 11.30 am.
If you would like to know more about this market and how to plan, launch and grow your US operations please register here.