The UK has a rich history of entrepreneurial expansion into the new lands of America dating from the late 1500s. Like those courageous explorers and settlers, today’s technology founders and entrepreneurs see the United States as a large, expansive market brimming with opportunity - which of course, it is! Opportunity, however, is often elusive and rarely as easily unlocked as we all wish that it was.
The US is a vast market, but also a collection of multiple markets, states, regulatory systems and cultures. It is also the most competitive technology market in the world, creating innovative technology companies almost as fast as the opportunities for innovation present themselves.
Despite this, expanding to the US is commonly seen as a natural next step for UK companies, thanks to the country’s favourable market size and shared language. A significant number of UK-headquartered companies that put down roots in the US do however end up retrenching to the UK having found it challenging to replicate or build on their initial home market success in this new and very different market.
Why does this happen? And if you are seriously considering establishing a US presence, what steps can you take to increase your likelihood of success?
