Welcome To The U.S.
Don't miss out on the world's largest market
A Top-Priority Expansion Opportunity
For many companies, the United States (U.S.) is the ultimate goal and the market that can help them secure their future success, making it a priority at an early stage. The reasons for this range from the fact that it is the largest economy in the world, to the fact that it is more easily accessible than many companies believe.
The world's largest economy
Since 1871, the U.S. has been the world's largest economy by nominal GDP and it is also the second-largest by purchasing power
parity (PPP). Current trends show that it is expected to continue growing steadily over the next few years, outpacing many other
western countries. Its labor market has strengthened, and so has consumer spending in the country. The U.S. is often dubbed as an economic superpower and that's because the economy constitutes almost a quarter of the global economy (see chart from IMF), backed by advanced infrastructure, technology, and an abundance of natural resources.
The strongest and largest economic states in the U.S. include California, Texas, New York, Florida, and Illinois, which together represent around 40% of the country’s total GDP. California is the largest economy today and has grown for the last 50 years. Now, its market size is comparable to that of the United Kingdom. Every state plays a role in the bigger picture, but some states such as New York and California have an outsized impact on fueling the country’s overall economic engine.
The U.S. consists of many different flourishing B2C and B2B markets, each with distinct tastes, purchasing behaviours, distribution systems, regulations, and climates. Business and consumer practices not only vary from state to state, but city-to-city and town-to-town. Household spending is the highest in the world, accounting for more than a quarter of global household consumption.
The economy is market-oriented: Private individuals and business firms make most of the decisions, and the federal and state governments buy needed goods and services predominantly in the private marketplace. U.S. business firms enjoy greater flexibility than their counterparts in Western Europe and Japan in decisions to expand capital plant, to lay off surplus workers, and to develop new products.
A more easily accessible market than it is made out to be
The U.S. offers foreign companies a large, easy-to-access marketplace if you adopt the right market entry strategy and follow legal rules and regulations. Selecting the right go-to-market- strategy and collaborating with the best U.S. partner for your product and market is important. To be successful, the goal is to connect with partners that have the technical and financial capability to support your product, and the right market entry strategies to reach your target customers.
Overall, the country is relatively free of quotas and non-tariff barriers, it is open to imports, and has well-developed distribution channels to customers. Together with its massive size and growth potential, the U.S. is a lucrative market for foreign companies and should be prioritized as such.
"...the reality is that for most companies, looking internationally is a must in order to grow to the extent they aspire to."
Challenges - And How To Overcome Them
It is clear that many European companies (including those from the top three EU Innovation Leaders Sweden, Finland, and Denmark, source: European Commission) face great opportunities in the U.S. market. However, many decide not to pursue them, for different reasons. Ask yourself this: Have you ever thought about expanding to the U.S. (or elsewhere) but found your company being held back by a product or service not yet ready to enter the market, constraints in time, personnel, or financials, or the uncertainty and perceived risk of entering a new market? If so, you are not alone.
Many smaller companies that we have talked to voice concern about the U.S. being a risky market, having heard horror stories about lawsuits and legal battles. Others find it hard to allocate the time necessary as their management and board are already incredibly busy. Yet others realize that both the physical and cultural distances between Europe and the U.S. create a barrier, as does the lack of market knowledge.
And finally, some just don’t know where to start - or if the U.S. is even for them. But the reality is that for most companies, looking internationally is a must in order to grow to the extent they aspire to.
Don't let these challenges stop you! We have the answers to your questions
These challenges are not reason enough to miss out on the largest market in the world. Below, you can find some of the most common questions we receive and how you can address them successfully. If you want any further assistance or ask more questions, feel free to reach out to any team member. We can help you navigate past these challenges in order for you to give this market a chance and realize your untapped potential.
How do we establish our company in the U.S. without a local presence in the country?
What if we are not familiar with current trends in the U.S. and how business is conducted?
How do we find trustworthy partners and
What are the different investment and funding opportunities for a company like ours?
What are the risks associated with entering the U.S. market and how do we manage them?
"Challenges are not there to stop you, they are there to help you grow."
Industries We Operate In
Our focus is on Business to Business (B2B), including retail, for growth in the U.S. market for companies mainly in the industry sectors mentioned below. Please note that the categories represent a selection of industries and that our extensive network allows us to effectively provide value to companies in other industries as well.
Greentech and Sustainability Solutions
The U.S. is the single largest market for environmental technologies in the world, representing a quarter of the $1.2 trillion global market. The market is also among the fastest growing international cleantech markets. Much of what is happening in renewable energy, sustainable manufacturing, clean technologies, environmental industries, and green build is taking place in the Midwest.
Sample industry sectors are: Water, renewable energy, air pollution control and monitoring, waste management, and recycling.
The U.S. remains the largest medical device market in the world at $156 billion (40 percent of the global medical device market in 2017). By 2023, it is expected to grow to $208 billion. The trend in this sector is moving towards digital health, data, robotics, personalized medicine thanks to additive manufacturing such as 3D.
Sample industry sectors include: Dental equipment and supplies, electro-medical equipment, in-vitro diagnostics, irradiation, surgical/medical instruments, and surgical appliances and supplies.
Lifestyle and Design
The interior design and lifestyle market is changing. The demand for a more genuine, high-quality, natural, and sustainable way of living is substantial. Long gone are the days of buying items to be used and quickly thrown away - or forgotten. Instead, customers are looking for long-lasting solutions, preferring design pieces that can be passed on from one generation to the next.
GoToMarketUSA has extensive knowledge within this field, thanks to decades of experience. Please read more here.
IT and Software
The U.S. has the most advanced software and information technology (IT) services industry in the world. More than 40 percent of the $5 trillion global IT market is in North America, primarily the U.S.
Notable industry sectors include: Cloud computing services, AI, entertainment software, e-commerce, and more.
Machinery manufacturing is one of the largest and most competitive sectors of the U.S. manufacturing economy. Exports of capital equipment totaled $141 billion in 2018 alone.
Industry sectors include: Agricultural and food machinery and equipment, aerospace, automotive, construction, energy and mining.
Let's Explore The U.S. Market Together
GoToMarketUSA was founded on the belief that none of the mentioned challenges should prevent promising, innovative companies from helping to improve the lives of hundreds of millions of people. In each of these industries, and more, we can help you both early in the process by measuring and defining your U.S. market opportunities as well as later on creating your proper market entry strategy and first revenue streams. Read more about what services we offer to achieve these goals.