| UK expertise and experience
is respected around the world, and British business
is frequently seen as a global partner of choice. We
know success in today’s high-technology sector
is increasingly dependent on choosing the right partner
to share skills, risk and exchange knowledge. By working
together, businesses can realise opportunities that
would be beyond their grasp individually. This is particularly
the case in the UK’s emerging sectors such as
life sciences, nanotechnology and environmental technologies.
As a world-renowned centre for innovation and research,
the UK is an excellent place for pharmaceutical and
biotechnology industries. Talented entrepreneurs and
multinational companies are attracted to the UK for
the quality of our research; the strong links between
universities, research institutes and industry; by geographic
clusters of high-tech companies; the ability to raise
finances, particularly venture capital; and by our excellent
quality of life.
US companies looking to start up or to expand their
business interests here or in Europe will find UK Trade
& Investment (UKTI) a valued partner. We are the
government organisation that supports both companies
in the UK trading internationally, and overseas’
enterprises seeking to locate in the UK. Our role is
to help companies realise their international business
potential through knowledge transfer and on-going partnership
support. Our position within government, in-depth knowledge
of UK regional business and a global network make us
a unique strategic resource – one that we can
tailor to your individual needs.
We offer practical advice for US companies seeking
to locate in the UK, such as how to apply for entry
clearance, obtain a work permit, and form a company.
UKTI also offers detailed information on company taxation
and what assistance is available to small businesses.
After a foreign company has invested in the UK, it is
treated exactly like a domestic business and is equally
able to use UKTI’s services to expand its UK business
overseas.
In the last financial year (2003-2004), the UK received
more than 320 investments from the US, creating 10,700
new jobs and safeguarding over 14,000. Recent major
investments include Hartford Life, which announced its
new premises at Canary Wharf, London, which is likely
to create 150 jobs. In addition, Citigroup has opened
a new operation in Northern Ireland, which is likely
to create 375 highly-skilled jobs.
In 2003, the UK’s imports of goods and services
from the US amounted to £36.3bn, and our exports
to the US £50.9bn. Foreign Direct Investment from
the US is £143tn. The US remains the leading destination
for British overseas investment, which means that we
are the largest investors in each other’s economies.
UKTI values its association with BritishAmerican Business
Inc, and we look forward to continuing to work together
to assist the transatlantic business community.
Sir Stephen Brown is Chief Executive
of UK Trade & Investment, the government organisation
that supports both companies in the UK trading internationally
and overseas enterprises seeking to locate in the UK
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