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I recently asked several of my U.K. clients a series of questions about their efforts to break into the American market. Their replies were very insightful into the strategic decisions that were necessary for their successful entry into the American market. Plus, they provide an excellent starting point for a discussion of the legal issues and strategic decisions that you should consider. This is the third in a series of posts about the insights of my U,K. clients.
Pharmaceutical Equipment Supplier
This U.K. company has been in business since 1989 and has done business in America since 1995. The company has an annual turnover of GBP 7 Million, including GBP 3 Million to North American customers.
1. What led to your decision to sell to the American market?
Response: “We sell mainly to Research & Development Pharmaceutical Industry – U.S. at time building many new plants.”
2. Briefly describe why the American market represents an opportunity for your company?
Response: “All main pharmaceutical companies based in U.S.”
3. What were your primary legal issues/concerns/problems about selling to the American market? Why?
Response: “Advised at start to set up a U.S. Office ONLY to avoid taxation issues.”
4. What's the best advice you would give another U.K. company wanting to sell to/enter the American market?
Response: “Gain as much information from as many sources as possible and make your own decisions."