United Kingdom

Overview

Close proximity to large continental European markets
A flexible labor force
Reputation as a global financial center
The UK maintains a position as one of the world's leading economies; strong tradition as a trading nation
Recent government emphasis on the privatization of industry, free trade, and minimum government intervention after two recessions in the last decade.
UK is likely to be the only major EU nation to increase its foreign trade in the near term.

Opportunities:

aircraft and parts, defense equipment
computer software, computer and peripherals, oil and gas field machinery and services
telecommunication services
general consumer goods
automotive parts
packaging materials
hotel and restaurant equipment
biotechnology, industrial chemicals
building products, electrical power systems
security and safety equipment
medical equipment
laboratory, scientific, and pollution control equipment
forest products

Marketing Tips

Companies interested in trade with the UK should approach it as any integral part of the EU and European market.
It is the least regulated of the European nations.
Government is deregulating and privatizing major industries including the telecommunications market, railroads and the postal system.
Distribution is conducted in two ways: wholesalers and brokers.
Trade and marketing practices are continually in need of conforming with the rest of the EU.
Retailers in the UK demand higher profit margins than in the rest of Europe.
A tax of 17.5% charged on most goods and should be factored into pricing.

Business Culture

English is spoken in the UK, but each country has different idioms.
It is considered to be bad form to address anyone by first name in a business situation.
Shaking hands is the common form of introduction.
Gift giving is not an expected custom.
English prefer calm reserve in both behavior and emotion.

DO's	DON'T's
Good manners are essential for doing business in the UK. Use British idioms, not American. Be prepared for invitations and to dress formally.	Avoid talking about politics, royalty. Don't stare at someone in public. Don't question British assumptions that they are the best. Do not discuss business over drinks and food.

Legal Environment:

The UK practices common law similar to the American legal system

Articles

Working with Export Partners in the European Union

Despite European unification, doing business in Europe can be trickier for U.S. exporters than inpre-EU times. Cultural and legal differences are potential pitfalls, and choosing the right agentor distributor for your product can also be difficult.