-=- BritishAmerican Business 2004 -=-

BAB 2004 | Welcome to the UK > Chairman’s welcome

Chairman’s welcome

Our special relationship goes from strength to strength

Ian Stopps CBE, Chairman, BritishAmerican Business Inc (BABi) and Chief Executive, Lockheed Martin UK Ltd

BritishAmerican Business Inc of New York and London (BABi) is the leading transatlantic business organisation, with more than 800 member companies in the US and UK. This places us squarely at the heart of the UK/US business relationship – the largest business relationship between any two countries in the world.

BABi’s reach is much wider than just New York and London, though. Through our association with the British-American Business Council (BABC) and the European Council of American Chambers of Commerce (ECACC), we have a business network that extends to more than 60 cities right across North America and Europe.

More than one million people in the US are employed by UK-headquartered companies and vice-versa, which should come as no surprise when you learn that annual two-way investment between the US and the UK totals more than £289.4bn ($535bn), with a further £42bn ($77bn) in annual two-way trade. This represents the lion’s share of US trade with Europe, with the UK receiving almost 37 cents from every US dollar invested in Europe.

Trade and investment figures between the US and the UK have taken a dip in recent years, but the US is still the UK’s top export market, with £36bn ($66bn) in exports in 2002. There are many reasons for the massive reciprocal level of trade and investment between our two countries; common history, language and culture, flexible and open markets and shared business values, as well as accessibility, all play important roles in this relationship. The legal, social and tax frameworks supporting business are also crucial.

Transatlantic business thrives because our two countries are involved with each other in so many ways and at so many levels. The integration that exists between the US and the UK has created thousands of opportunities, many common causes, and an open relationship that enables us to deal effectively with potentially divisive issues when they arise. In unsettled times, the stability of this relationship is a source of reassurance and, at the present time, all aspects of this relationship have, arguably, never been stronger.

It still remains to be seen how the UK will play out its role in Europe, but it represents both a lucrative investment/business opportunity for the US, as well as being the primary gateway to the rest of Europe for thousands of American companies. BABi provides practical help and benefits to American and British companies of all sizes as they look to grow their transatlantic business, by offering a broad range of business development, business intelligence and networking services and opportunities. Our membership ranges from the largest multinationals to middle-market and smaller operations.

This annual “Handbook” is now in its fourth year and is an ongoing initiative to expand our service offering, primarily by giving useful and practical advice for American companies looking for business opportunities in the UK. We have included overview information on the state of the economy in the UK and Europe and also indications as to the climate that American companies can expect over the coming months.

In this publication, as well as welcome words from The Hon William S Farish, US Ambassador to the UK, we have also included guidance from Sir Stephen Brown, Chief Executive of UK Trade & Investment (formerly known as Invest.UK and Trade Partners UK) and Sir Thomas Harris, the British Consul General in New York. The bulk of the Handbook is turned over to the UK’s regional development agencies, with information on the range and variety of potential locations in the UK for US business. With an emphasis on the practical, we have focused on overviews, case studies, expert advice and contact information.

For the second year running, we have devoted a whole section to the US, with information and contributions from the different networks throughout the country that can help US businesses attempting to set up in the UK. You will find information on the British-American Business Council (BABC) – of which BABi’s New York and London offices are active members – as well as AURA, the Association of United States Representatives Abroad, an informal association of US state and county representatives in the UK, and the US Commercial Service, a global network of trade specialists dedicated to supporting US commercial interests around the world. We have also included a map of the US in this section to show you the locations of offices for the BABC chapters, AURA and UK Trade & Investment offices in the US.

There is a reference section at the end of this book, so that businesses attempting to set up in the UK have information at their fingertips on many of the most prominent bodies, agencies and individual companies that will be able to help them through issues they will face as they develop their business in this country. The “Useful Websites” page is for anyone doing research over the Internet. BABi is dedicated to helping its member companies build and expand their international business. In effect, we create networks between countries as well as companies and we help companies of all sizes to do business with each other.

If you are looking to build your business in Europe, we hope this book will be a useful starting point. We look forward to welcoming you to our growing transatlantic fellowship of business.

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