| United States of America: create successful business relationships |
United States of America (USA) is a prominent business partner, which maintains a high power despite the significant changes in recent years.
When we talk about the United States of America, we are talking about a country founded on fundamental principles of equality and here we find a population of diverse cultures and ethnicities.
THE MARKET
This is a quite competitive market, composed of differentiated consumption sectors, with highly sophisticated consumers.
The vast and uneven geography of the American territory has generated, over time, subcultures and regional identities, so we suggest that you forget the stereotype of “the American”.
Even though the North-American culture is so present in our daily lives, when doing business with the USA you shouldn’t assume that this is a familiar market. On the contrary, we find it imperative that you understand the American cultural concepts so you may be able to fully seize this market’s opportunities.
The USA has one of the world’s biggest agriculture sectors and is also highly industrialized. Despite this, the services sector stands for over three-quarters of the GDP, with 80% of the active population.
THE ECONOMY
Following the severe financial crisis of 2008-2009, the USA has been recovering, with the economy recovering in recent years.
In the USA, the power is divided between state and federal governments, with the President leading the executive branch. With Donald Trump as president, there has been an ideological change in the judicial system – through the appointment of several conservative judges – and immigration restriction policies have been implemented, including the construction of a wall on the border with Mexico and the tightening of the trade deficit.
In international trade, the USA registered a deficit of USD811 billion in 2017. CGD, that started decreasing since the second quarter of 2018, from 4,2% to 2,2% until the end of 2018, started growing in the first quarter of 2019, with an annual tax of 3,2%. This impulse happened due to the trading market, the accumulation of non-sell assets and the increase of governmental investments.
It is expected growth in the US economy in 2019 and 2020, after the economic expansion of 2,9% registered in 2018.
Photo by Martin Jernberg
CREATE SUCCESSFUL RELATIONSHIPS
In this market, business owners frequently attend events, like fairs, conferences and seminars.
To succeed in your business with US companies you should prepare yourself for this market demands. It’s imperative to have knowledge of the legislation and applicable tax regimes, as well as customs duties related to the import and export of goods.
When drafting contractual documents, INternational COmmerce Terminology (INCOTerms) should be applied. We suggest that you refer to specialized professionals to ensure your rights and to fully understand your obligations.
Similar to the European culture, greetings are usually firm and short handshakes and there’s a cards exchange, the use of the first names is common. Clothing may be more formal or more relaxed (business casual) depending on the circumstances.
Punctuality is important. In a meeting, it is usual to start with the presentations and the introduction of the agenda and to finish with the summary of what has been discussed. After a meeting, you should follow up and maintain the deadlines, which conveys a professional and confident profile.
The approach to this market should be made in American English, is common the use of email, telephone and video conference.
Wanna expand your business in the United States of America?
We’ll take care of everything for you!
Determined to break boundaries, Bleach Global is a multinational company of exhibitions stand design and construction, with physical operations in Portugal (headquarters), Argentina, Chile, Brazil, UAE, India, USA, Mexico, China, Japan and Russia.
We specialize in coordinating and organizing the customer’s participation in events:
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design & construction of exhibition stands
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graphic design development
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analysis of relevant events to fulfil the customer’s goals
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selecting the location in the space of the event
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support for the accomplishment of the logistics and bureaucratic procedures
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follow up
WORLDWIDE EXHIBITIONS STAND DESIGN
Strive to exceed expectations by using Bleach Global as the competitive edge for your international expansion.
Focus on your business, we’ll take care of the rest!
Largo da Alegria, nº3 2430-266 Marinha Grande – Portugal (Sede) | T +351 244 023 726 | E [email protected]
