Magazine article Management Today

Brainfood: Crash Course In. Making It in the States

Magazine article Management Today

Brainfood: Crash Course In. Making It in the States

Article excerpt

You've outgrown the domestic market, you are ready to conquer new horizons and fancy having a crack at Uncle Sam. How do you set about getting into the US market?

Think twice. 'If you don't already have overseas market experience, the US isn't the place to start, because the size and demands of the market are so great,' says Dick Brentnall, a director at the Institute of Export.

'There are more British failures in the US market than successes.'

Do your research. The scale, complexity and competitiveness of the US dictate that you must establish that there's a market for what you have to offer before you make your move. Says David Booth, an international trade adviser at Greater Manchester Chamber of Commerce: 'Contact your Business Link and you will be appointed an ITA, who will help you produce an action plan and commission professional research.'

Pick your route. Setting up a subsidiary US trading company isn't the only way in. You can export via an agent or a distributor; form a joint venture; find franchisees; or even acquire a company there. UK Trade & Investment has a free booklet, Establishing a Business Presence in the US. Its author, Elizabeth Monnet, says you need to look at how a market sector works before choosing. 'Frequently, overseas companies establish a US trading company to act as the co-ordinator of their other distribution channels.'

Look at a map. With 50 states to choose from - each with its own laws and tax regime - selecting a location for setting up is a challenge. …

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