EU power grab fails: US to invest heavily in the city – Brussels’ strategy fails
US BUSINESSES WITH OFFSHORE IN THE UK ARE EXPECTED TO INCREASE INVESTMENT IN THE NEXT FEW YEARS AS BRUSSELS’ PLAN TO TAKE OVER POWER FAILS AFTER THE UK LEAVES THE EU.
Businesses have “extremely high” confidence in Britain as a place to conduct business, according to a new survey of 68 significant American corporations employing more than 275,000 people in the UK. Around 60% stated they would expand their investment in the United Kingdom.
The geographical location and UK timezones, according to Anna Marrs, a group president at American Express, make it a “excellent jumping-off place” for their activities outside the US.
“The UK continues to be an attractive jumping-off place for our activities beyond the US,” she added, citing a strong and multilingual talent base, a supportive business environment, and geographical and timezone benefits.
“The UK is a vast and vibrant economy with great regulatory and educational systems,” said Dan Glaser, president and chief executive of Marsh McLennan.
“Top talent from all over the world wishes to work and live in the United Kingdom.”
According to Duncan Edwards, CEO of BritishAmerican Business, the UK is “extremely well-positioned” to attract enterprises from the United States.
“The UK is really well-positioned to continue to attract companies from the US and around the world,” he told the Financial Times.
“However, a comprehensive trade agreement with the United States, a more favourable political and trading relationship with the EU, and more business-friendly domestic policies will all contribute to this bright outlook.”
Despite Britain’s exit from the European Union, US investors have kept the majority of their employees, according to Jonathan Frick, a partner at Bain in London.
“Financial services organizations, in particular, believe the City will remain a hub for the business community with a large and diversified talent pool,” he said.
Despite the fact that many businesses have shown an interest in investing in the UK, the study identified concerns about Brexit and US trade relations.
The primary concerns were about the possibility of political difficulties, as well as practical issues like supply chain issues and access to EU talent.
Around 17% of the corporations polled in the United States indicated they had relocated work to the European Union.
Nearly 40% of businesses believe that improving the political and economic relationship with the EU should be their top goal.
This would help the United Kingdom to keep its top spot. “Brinkwire News in Condensed Form.”