The United States topped management consulting firm A.T. Kearney’s Foreign Direct Investment (FID) Confidence Index® for the seventh year in a row. According to Paul A. Laudicina, chairman of the Global Business Policy Council, a strategic service at A.T. Kearney, this is largely due to the fact that the US market is enormous, its tax rates are competitive, it possesses ‘technological and innovation capabilities’ as well as has a growing economy.
Inspired by the “Theory of Seven” rule and the fact that the US was top choice for foreign investment consecutively for seven years, International Trade Administration SelectUSA’s executive director, Brian Lenihan explains his seven reasons why “the United States is the best place to do business.” Here’s an excerpt from Lenihan’s recent article*:
- Sustained Economic Growth: The United States economy has grown at a greater than 2 percent clip for eight consecutive quarters, including a 3.2 percent growth rate in Q1 2019 that beat market expectations.
- Powerful Consumer Market: Businesses operating in the United States have direct access to the world’s largest consumer market, as ranked by the World Bank.
- A Fair Corporate Tax Rate: The Tax Cuts and Jobs Act decreased the corporate tax rate from 35 percent to 21 percent, meaning businesses can invest more of their revenues back into their operations.
- A Simpler Regulatory Environment: The Administration has focused on removing redundant regulations that presented an unnecessary hurdle to doing business.
- Intellectual Property Protections: Companies and entrepreneurs can innovate in the United States without worry that their intellectual property will be compromised.
- World-class Productivity: The U.S. workforce is more than 37 percent more productive than the Organization for Economic Cooperation and Development average.
- An Environment for Entrepreneurship: The U.S. legal system provides predictability and freedom from corruption that allows businesses and entrepreneurs to invest with confidence, as reflected by the United States’ number 1 ranking in the Global Entrepreneurship Index.
Free Export Resources for Canadians
Not to be overlooked by Canadian companies interested in doing business in the USA are the free resources provided by Small Business B.C.’s Export Navigator Program and/or by Canadian trade commissioners. Trade commissioners (TCS) are located in more than 15 US cities and eager to help you get started doing business in the states. Find a Consulate General of Canada near you >>>
UCanTrade, Inc. specializes in providing USA business and logistics services to Canadian importers and exporters. UCanTrade has been serving Canadian companies and helping them to establish their U.S. business identities since 1984. They enjoy long standing cross-border relationships with important cross-border partners such as customs brokers, immigration and business lawyers, bankers and government agencies. Our experience and expertise combined with our 60,000 square feet of warehouse facilities, UCanTrade helps Canadian exporters overcome ‘border barriers’ and become an extension of their Canadian head-office in the nearby United States.
*Source Article: 7-May-19 USA Spends Seven Years Atop Key Business Index by Brian Lenihan