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Small World, Big Business
The beginning of August brought a double whammy of good news for the US as trade deficit figures closed by 22.4% and employment levels rose by a reported 7.4%. This equates to the lowest unemployment rates and trade deficit since 2009 suggesting that, after a long and arduous financial crisis, the US economy is once again beginning to boom.
These statistics, buoyed by rising exports to both China and the EU, combined with the creation of around 162.000 new jobs, point to a wholesale growth in US industry and renewed interest in home-grown products. It seems then, that confidence in the US is once again beginning to return.
This positive news is also mirrored across the Atlantic as a rise in both UK manufacturing and reduction in unemployment means that, in line with William Hague's recent speech to the World Affairs Council and British American Business Council in Los Angeles, economies on both sides of the ocean are beginning to benefit from increased trade opportunities.
A wonderful example of how transatlantic start-up companies are benefiting from this renewed confidence is provided by entrepreneur Mike Faith. The UK born businessman upped sticks a number of years ago with the idea of starting his new business in the US. Beginning with just a small amount of capital and a few trusted employees, his business has seen rapid growth and now turns over around $21 million a year.
The same can be said for environmentally focused recruitment agents Tom Green and Paul Hannam who, after creating a successful agency in the UK, decided to expand their concept and business into the US. According to Tom the benefits have been twofold and, using their cross cultural ties, they have been able to creating thriving business on both sides of the Atlantic.
With a wealth of benefits available to those who choose to trade with or relocate their business to the US it seems that it is prime time to embrace the transatlantic ties we have and enjoy the growth associated with them. Of course, there is plenty of bureaucracy to deal with first but those interested might well take a look at this useful site for more information about US citizenship and visas for professionals. The world is growing smaller every day and yet big business continues to expand. Don't miss the boat.