Going global for SMEs on both sides of the Atlantic is still a viable option in 2019.
The UK makes a lot of its investment to the US, which is about $540 billion, and so does the US invest a lot in the UK hence becoming its most significant investor. This means that as much as the TTIP may be a bit shaken with countries like China trying to make a substantial mark in the market, there are still a lot of business opportunities between Europe and the US. Here are five that are worth looking into.
Whether you will offer to deliver letters and parcels in a town or offer port to town parcel delivery, you will be in for a great success given that the demand as per 2016 was expected grow by at least 11% by 2026. International shipping is also quite flexible, but one needs to be up to date with regulatory laws that involve shipping between EU countries and to other countries. The new EU rules for cross-border parcel delivery released in 2018 made the industry more competitive, and the aim was to make trade between EU countries more accessible.
Real Estate and Property Management
There are a lot of people migrating to new countries between the US and Europe. For example, in Canada, international migration accounted for 82% of the population growth between April and July 2018. If you are a real estate agent in Canada, this is excellent news because it means that you have close to 168,000 potential customers. These people will need to know how to settle down in Canada, the mortgage laws, and what it takes to buy a house in a foreign country. With such migration trends, international real estate companies should be sure to have some good profits coming in.
Market Analysis and Consultation
Another viable business between the EU and the US is market consultations and investment analysis businesses. With people moving from one country to another, maybe for family reconnection reasons or for the need to have a new environment, these people will need a source of livelihood.
If they cannot get a job, they will probably think about starting a business. To do that they will look for a market analysis firm to weigh their prospects. Not only so, but a lot of companies are also embracing globalization as the next step for SME growth. A market analyst is a go-to person for the two parties.
E-Commerce has been one of the biggest names in entrepreneurship trends since 2014. In 2019, statistics predict that there will be at least 1.9 billion online shoppers, which might account for 13.7% of retail sales. With such predictions, anyone looking to get into retail or is already is should highly consider embracing the e-commerce trend. The advantage of e-commerce is that one gets to serve global consumers efficiently.
The only challenge comes with delivery, but that should not be a worry since parcel delivery services are also catching up quite fast with the demand.
Warehouse and Storage
An industry that is more of a complementary service that works hand in hand with courier services and e-commerce is warehousing and storage. With a lot of goods crossing the borders between the Atlantic, it is only valid to say that there is also a high demand for warehousing and storage services especially those that have cooling and temperature control technologies.
This is quite a viable business since all you need is a business permit and find a room big enough to accommodate goods that your clients are shipping or flying in and out of the country. You will also need to be aware of custom duties laws so that you are operating with goods that are legal in the land. Otherwise, the business is very profitable.