UK business owners confess their thoughts about business in America

A recent survey has seen UK based business owner’s reveal their true thoughts on doing business in America, as well as uncovering what attracts them and what stops them from expanding to the US.

The survey, commission by American expansion experts Foothold America, revealed that there were a number of factors that made expanding to America a very attractive prospect, with the top reasons being Americas status as the largest economy in the world, access to world class talent, better weather and the absence of a language barrier – one that was popular amongst 46% of male UK business owner’s.

The success of business in America is no secret, however that doesn’t mean there aren’t factors that stand in the way of making it a desirable location for some. One of the most prominent stats to come from this survey was that 51% of UK business owners surveyed said that the election of Donald Trump as US president would make them less or much less likely to expand their business to America.

It seems as though politics has a lot to do with people’s decisions, as almost half of business owners said that US politics in general would deter them from expanding to America. But it isn’t just American politics, 27% of business owners said that UK politics; Brexit for example, would deter them.

Politics may be standing in the way for some, but the biggest barrier in the way of expansion seemed to be the cost, which shows that there is a desire for a less expensive avenue to explore the US market, in fact 36% of business owners admitted that a less expensive method would encourage them to expand their business.

If you take a look at the data cards below, you can find out more about UK business owner thoughts on expanding their business overseas.

This article does not necessarily reflect the opinions of the editors or management of EconoTimes