It’s Independence Day!
And good news reported across the media on the protracted ‘trade war’ between China and the US. Around the world markets have rallied sharply as hopes of a peace deal in the US-China trade war rise.
On 1 July, just in time for the holiday, shares on Wall Street hit highs after President Trump and the Chinese president, Xi Jinping, agreed to resume trade negotiations following a meeting at the G20 gathering of world leaders in Japan last weekend. As a result, the Dow Jones industrial average jumped almost 200 points in afternoon trading in New York, a record, before closing up 117 points at 26,717. The wider S&P 500 index of major American firms closed at a record high of 2964. On a day of gains around the world, the FTSE 100 closed 76 points higher at 7,502.
The President was obviously delighted not just with his meeting with Xi, something he described as “excellent” but he also concluded that US/Sino relations were “right back on track”. The chief take away for business from all this is that the US has promised no additional tariffs on Chinese imports – for now at least. Be under no doubt this is a great relief for potential investors as it was their major ongoing concern. In response, China agreed to hold back from imposing tariffs as well. In addition, the Chinese will once more purchase US agricultural products.
All good news.
This is a much needed boost to investor confidence coming just as the Stars & Stripes are being unfurled across the land from shining sea to shining sea celebrating the country’s independence from the then British Empire.
Looking at the UK today, Brexit and the general political instability that remains continues not to be good for business – and that is an understatement. Believe me in the current climate, American business will be glad the link was severed all those years back!
British business owners and entrepreneurs take note!
Put bluntly, across the Pond business continues to boom. Whatever you think of the 45th President of the United States he is freeing business of the shackles of regulation and the dead hand of officialdom so as let those who wish just get on with the business of doing business.
Nowhere is this more apparent than in the great State of Texas, home to Mount Bonnell Advisors. According to a report in U.S. News and World Report, Texas is rightly recognized as one of the top 15 states for economic wealth and personal financial success. The various state economies were ranked by measures ranging from employment, job creation, the health & well being of the State’s citizens, as well as the general business environment and overall potential for economic growth. As you’d expect Texas did well on all these indices.
The report also looked at tax. Just how the tax burden is being lowered or reduced on businesses so they can create more wealth and employ more people as a result. This is important because the Federal government may be making a bonfire of regulations and reducing taxes, but on this it is up to the States to ensure that they follow suit. Otherwise what’s the point?
Of course, Texas is leading the charge here too– would you expect anything else? And it’s not just the multi-nationals that are getting a hand up. Now even small businesses have additional support from the state to help them thrive.
This support is for existing businesses and new companies being formed as a state corporation, which is the preferred option for many when setting up business in the Lone Star State. As we constantly tell anyone who cares to listen Texas has a lot to offer European companies and business owners looking to set out on their US adventure and we can help you make that dream a reality.
Given Mount Bonnell Advisors work with an international client base, it is of interest to learn that Texas is keen to work with international markets. On the international stage, Texas is recognised as a state that can provide ways to work effectively and profitably with other countries across the globe. That is in addition to the State’s already existing reputation as a business leader with commercial opportunities reaching right across America and even up into Canada.
Success builds on success, so as recognition for Texas is becoming better known, experienced Texan firms are more available to assist the new and existing businesses coming to do business in the state. Often that is where we can help. If you need a trusted voice, a European voice, in the great state of Texas, one that knows what you are trying to achieve then you know you have to look no further than Mount Bonnell Advisors. We can help guide you through this with our existing and trusted network.
From the get go, Mount Bonnell Advisors offer strong support for new company formation, contracts, and finding the right advice around business law. (Check out our website if you don’t believe me!)
It is good that Americans celebrate on 4 July each year. If you ever have the chance to be in the States for this holiday I recommend it. It reminds me of why I love America.
Its undaunted optimism; its great enthusiasm; its complete lack of concern about where you have come from and its real interest in where it is you’re headed.
Most of all there is no place on earth quite like the United Sates to do business and then to enjoy the fruits of one’s success. I really believe that.
It’s still on your mind – that move to the States. Right? Time to pick up the phone and give me call. Maybe this is your independence day…
It may look daunting, moving your business to the US – it is. But with an experienced team behind you it can be done, because the official motto of this great land may be In God We Trust but what could be added to it is: Yes, You Can!
Happy Independence Day!
