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Doing Business in the United States

Doing Business in the United States

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Doing Business in the United States

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  1. Doing Business in the United States Ian Smith Founder and Managing Director United States Connect

  2. Quick Facts • Population: 318 million (2014) • GDP per capita: US$45,863 (2013) • Retail sales: US$4.53 trillion (2013) • Total VC investments: US$29.7 billion (2013) • NZ exports: NZ$4.1 billion (2012)

  3. Trends Create Opportunities • E-commerce and M-Commerce booming • 20% of US retail sales within decade • E-Commerce sales increased 16% to US$263 billion in 2013 • Mobile commerce – sales on phones or tablets – are likely to hit US$87 billion this year. • Demographic Shifts • US to be majority-minority nation for the first time in 2043. • All in all, minorities, now 37 percent of the US population, are projected to comprise 57 percent of the population in 2060. • Globalised consumer means globalised supply chain but • Buy USA significant in some industries – Opportunity for JVs • On shoring more prevalent

  4. Hot Sectors 1. Health • Largest medical device market in the world with revenue of US$127.1 billion in 2013 • 40% share of global market • Increased demand due to Healthcare Reform Bill 2. Clean Technology • Obama strong commitment to expanding clean energy - doubling of renewable power by 2020. • Investment in clean energy R&D - US$55.9 billion • Renewable energy accounted for nearly 40% of all new, US domestic power capacity installed in 2013

  5. Hot Sectors • 3. ICT • Most advanced software and information technology industry in the world. • Software industry single largest investment sector in 2013 - US$11.0 billion– 27% increase over previous • US Share of Global ICT R&D - 55% • 4. Agribusiness • Revenue US$2 trillion in 2013 • Growing interest in biofuels, FTAs and expansion of GM foods are driving growth • Opportunities for collaboration and joint venture

  6. 10 Tips of Doing Business in the USA One nation or is it? Leave your sarcasm at the door Tall poppies welcome Patience and persistence pay Business is king Do as the romans do Ask for a biscuit, get a scone when you really wanted a cookie Absence does not make the heart grow fonder If you don’t ask, you won’t get and it is your loss, literally! It is not what you know, but who you know

  7. Case Studies from the Coal Face Taken from a survey of 200 NZ and Australian exporters KEY LEARNINGS Use the existing expat network in-market Do not come away from the first couple of meetings thinking that you are an instant millionaire. IP protection is crucial (defence and marketing tool) Outsource all you can in the early days – Play to your strengths. Allow twice the time and budget to get the job done right Persistence, Persistence, Persistence. Being connected to "old boys" type networks (business advisors/agents/brokers etc.) is a significant advantage in opening the first doors. Companies like Proctor & Gamble and Frito Lay seed many of the most senior managers into corporate America. Never lose site of the value of getting the right mix of NZ management culture in your US operation.

  8. United States Connect • United States Connect is the first online platform that provides a one-stop-shop for companies to access the information, advice and contacts they need to succeed in the United States. • For a small fee it offers exporters the ability to: • Source up-to-date market intelligence; • Find reliable service providers; • Network with peers; and • Seek advice from subject specialists. • For more information and to register go to www.unitedstatesconnect.com

  9. Thank You "Make no little plans. They have no magic to stir men's blood and probably will not themselves be realized." (Daniel Burnham) Contact: Ian Smith Founder of United States Connect +61 417 020 429 ian@unitedstatesconnect.com www.unitedstatesconnect.com