Venture to United States of America with IE Singapore
Largest consumer economy
The United States (US) is the world’s largest consumer economy, with its households consuming nearly three times as much as any other country in the world. It is also home to some of the biggest global brands, including Apple, Walmart, Google, Coca-Cola, Nike, General Electric and Walt Disney. More than just a market, the US is a major gateway to the world. In some industries, establishing presence in the US is critical in order for a company to gain credibility, and to become a global brand.
The US is regularly ranked the most entrepreneurial economy in the world by the Global Entrepreneurship Index. With its well-developed ecosystem of talent, funding and ideas, the US is a natural wellspring of competitive solutions and exciting innovation. Silicon Valley, Los Angeles, Seattle, New York City and Boston are globally recognised as top startup ecosystems.
Good business environment
US economic growth rate has been recovering from the 2008 recession, on track to be 2.2% in 2017 and 2.3% in 20181.
Ranked sixth in the world for ease of doing business2, the US is also one of the most attractive destinations for foreign direct investment, topping the A.T. Kearney FDI Confidence Index for the fifth consecutive year in 2017.
The US is an ideal place to do business for various reasons, including a good business environment, liberal policy towards private enterprises, a well-functioning labour market, deep capital markets, established financial institutions and infrastructure, strong rule of law, and robust protection of intellectual property rights.
Venture to the US
Singapore maintains a robust and long-standing trade and investment relationship with the US. With bilateral trade of S$72.4 billion in 2016, Singapore was the US’s largest trading partner from Southeast Asia, while the US was Singapore’s third largest trading partner worldwide.
Singapore’s cumulative FDI in the US reached S$73.7 billion by the end of 2016, making Singapore the largest Asian investor in the US. More than 140 Singapore companies are currently in the US, with over 500 establishments.
The US is now the world’s largest producer of natural gas. Cheap and abundant gas is expected to make manufacturing in the US more competitive, continuing to spur job creation and economic growth.
Find out what opportunities Singapore companies can look forward to in the US here.
Enterprise Singapore partnered Newegg.com (2nd largest online retailer in North America) to connect Singapore businesses with the US consumer technology sector.
This platform makes it easier for local companies to enter the North American market.
- Expedited and increased likelihood of approval for referral company (by Enterprise Singapore) to join Newegg Marketplace as seller*
- Marketing credits to promote business products on the platform
- Discounted commission rate of 1%
- 6-month free warehousing space, contingent on sign-up for Shipped By Newegg
*The marketplace programme is by invitation only.
If you’re interested to be on the platform, email firstname.lastname@example.org
1: IMF estimates, 2017
2: World Bank, 2017