| In 2003, Janette Benaddi, Managing
Director of Medvance, a UK-based medical research company,
signed up with UK Trade & Investment’s Passport
to Export programme.
At the time she didn’t realise that her company
would be exporting to the US in just six months. Benaddi’s
Yorkshire-based company conducts studies and clinical
trials for medical products such as hip implants, contact
lenses, catheters, and other medical devices.
She signed up with the Passport to Export programme
to find out more about potential overseas markets and
develop an export portfolio. Advice from her local International
Trade Adviser, and funding from UK Trade & Investment,
allowed Benaddi to join a trade mission to the US organised
by the Association of British Health Care Industry.
As a result, she won contracts with two US healthcare
giants, Johnson & Johnson and Smith and Nephew.
UK goods have traditionally
enjoyed a good reputation for quality in the US
|
STRONG TRADE AND INVESTMENT
LINKS
Many UK companies, large and small, are finding that
expanding their business into the US makes their company
more profitable and increases productivity.
The US market, with every major industry represented,
offers many opportunities, and aside from a few import
quotas and strategic industry ownership restrictions,
there are no limitations on foreign firms seeking to
do business in the US. Exporters and investors worldwide
recognise the benefits of the US’s political and
economic stability, US manufacturers’ openness
to outsourcing components, wider market access through
NAFTA, and active support at the federal and state level
for international investment.
It is no accident that the US is the UK’s largest
export market and is the leading destination for UK
overseas investment. The US is particularly attractive
to UK exporters and investors because the UK and the
US share a common history
and culture; the UK is seen in a positive light by US
business people and consumers; and UK goods have traditionally
enjoyed a good reputation for quality in the US.The
facts speak for themselves: UK goods exported to the
US in 2003 totalled £28.8bn, 1.47% up on 2002.
This makes the UK the sixth largest exporter to the
US. The UK continues to be the leading foreign investor
in the US with $283bn in 2002, representing 21% of total
foreign direct investment into the country.
It
is no accident that the US is the UK's largest export
market |
UK TRADE & INVESTMENT
UK Trade & Investment, the UK Government organisation
that supports UK business wishing to trade internationally,
and overseas businesses seeking to invest in the UK,
helps UK companies capitalise on the opportunities in
the US.
We offer advice and support to help grow what is already
the world’s most dynamic bilateral business relationship.We
assist UK companies, such as Medvance, by providing
services through a network with partner agencies in
regions across the UK and with national development
agencies in Scotland, Northern Ireland and Wales, to
help companies realise their export potential.
In the US we have trade officers who are appointed for
their knowledge of US industry, business practices and
their network of contacts. The trade officers are based
in 14 commercial sections of the British Embassy and
Consulates throughout the US covering three time zones.
Our services are confidential and tailored for the needs
of your company. Ask us about market intelligence, joint
ventures, regulations, sales leads and financial and
practical support.
UK Trade & Investment has several up-to-date publications
about doing business in the US, including: Exporting
to the USA: Getting Started – A Practical Guide;
Marketing in the USA; Establishing a Business Presence
in the US; Selling Through US Agents and Distributors
in the US; and Exhibiting at US Trade Shows: Tips to
Help You Succeed. All publications can be found on:
www.trade.uktradeinvest.gov.uk/usa
In addition to all this, UK Trade & Investment has
been running a US Marketing Scholarship Programme for
the past 10 years. The programme aims to give senior
managers in UK SMEs the opportunity to learn more about
marketing effectively in the USA and then to spend time
with a company to see how it is done. So, not only do
we help companies get started, but we also aim to help
create and build competitive and sustainable companies.
For more information, visit: www.uktradeinvest.gov.uk
|
