inspire


BUSINESS WEST – CONNECTING BUSINESSES INTERNATIONAL TRADE


Export markets are a major opportunity for firms of all sizes, and Business West provides a range of services to help you go global


Doing business in the United States


The United States (US) is the largest, most competitive and technologically advanced economy in the world. US Gross Domestic Product (GDP) has consistently seen growth of 1.8% or more since 2011. It is the UK’s top export destination. The US is the world’s largest


market and it has the world’s largest private sector. It also has: • Low regulatory barriers • Minimal language barriers • Access to global supply chains, which can lead to exports for other markets


• A strong rule of law


Industries importing into the US The top 10 industries importing into the US are: • Electrical machinery and equipment • Machinery and mechanical appliances • Vehicles • Mineral fuels and oils • Pharmaceuticals • 0ptical, photographic, cinematographic, measuring and precision equipment


• Furniture, mattresses and soft furnishings • Pearls, precious and semi-precious stones and metals


• Organic chemicals • Plastics


‘You should do as much


Researching the US market You should do as much market research and planning as possible before starting to sell your products and services in the US using both desk research and visits to the market. Good planning is essential as


market research and planning as possible’


you must:


• Assess US government requirements, voluntary standards and industry practices for your product


• Evaluate your existing internal processes for product development and safety, incident reporting and investigation and response


The US is not a single national market; it is a


federal system. You must treat each state as a separate entity with its own procedures. You need to determine the implications of developing your business in a specific state, or whether national entry is possible for your product or service. You need to determine whether:


• There is a market for your product or service • Your pricing is competitive • You need to localise your product


For more information on getting started in the US market, contact ditsw@mobile.trade.gov.uk or visit www.gov.uk/guidance/exporting-to-the-usa


International Trade Survey


With the number of South West exports on the rise, Business West and DIT South West's commitment to the exporters of the region is stronger than ever. To continue to deliver the best quality international trade advice and support we'd like you to take a few minutes to tell us about your current trade status, what skills and aspects of exporting are most important to your business, and where in the world you'd like to sell to next. You'll even be entered into a prize draw for a chance to win a £100 Amazon voucher!


To complete the five-minute survey, visit www.smartsurvey.co.uk/s/its19insight/


14 insight JULY/AUGUST 2019


this will protect you from litigation and product liability exposure. Litigation is best avoided by getting a good understanding of US commercial standards and tailoring your company’s practices


to those standards. To avoid product liability exposure,


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