Now Is the Time To Break Into the US Market and Sell Your Products and Services

Some have said that the Trump Administration has made the US is an unfriendly place to do business for foreign companies. The political opposition says that the threat of tariffs and trade wars causes uncertainty in global markets and is not good for the US economy. Those who call themselves ‘traditional free traders’ have sided with Trump’s political opposition, at least temporarily. Personally, I see just the opposite.

First, I see more foreign money coming into the US market to seize the opportunities of low corporate tax rates, and as a way to avoid potential tariffs. Further, I see temporary tariffs as a shot over the bow that the US will not be played with unbalanced trade agreements or lack of fair trade agreements. These temporary trade tariffs will bring billions into the US government’s coffers while trade negotiations happen, and our foreign counterparts will rush back to the table to renegotiate with more favorable terms. No international company wants to skip the US Market, it’s too big, and there is far too much money here.

Why Should Companies Move Operations to the US and Establish Themselves Here?

The United States of America is the largest consumer market on the planet. In 2016 and then again in 2017 the US consumer market alone was nearly 13 Trillion Dollars, and that doesn’t account for another Trillion or two in unreported sales – cash transactions in the underground economy, which includes everything from a kid’s lemon aid stand or house maid to a handyman remodeling a kitchen. And, realize at 13-15 Trillion, this is only the “consumer economy” and has nothing to do with what businesses spend or the US government spends annually.

The Federal Government, not including state governments or local governments, has a budget of $4 Trillion. State Governments total an estimated $2 Trillion and all the local governments combined also near $2 Trillion. The total government spending for fiscal year 2018 is estimated to be around $7.5 Trillion. Guess how much US businesses spent in 2017? It’s so huge no one can figure it out, it’s so mind-boggling that it makes the rest of the world’s economies look like child’s play. Did you know that 2018 business spending is already on course for a 7% increase, even with a so-called trade war scare?

The United States is not only the largest consumer economy by far, but it is the largest for government and business spending as well, and second place isn’t even close. If you are not in the US Market selling your goods and services you are missing out. Are you ready to go for it? If so, there are plenty of US based international business consultants here who are ready and willing to help get you set up. Here are some of the things you’ll need to enter the greatest market in human history;

Business Plan
Marketing Plan
Set Up Books – Accounting
Business Name Registration
Business License Acquisition
Business/Commercial Insurance
Website with email addresses
Tax Strategy and Tax Planning
Set Up Books – Bookkeeping/Accounting
Business Location and Rental/Lease Negotiation
Business Corporation Formation
Setting Up Bank Accounts (Business Checking)
Start-up Business Coaching
Start-up Marketing Consulting

If you own a business that sells internationally, you’ll now need a US base of operations, and you’d be wise, very wise to do it sooner than later to take advantage of this booming economy.

The Indian Home Textile Industry Is Gaining Global Foothold

Two decades back, stylish interiors or beautiful indoors were in minds of only a few homeowners. Most of the houses had limited stock of bed linen and bedsheets, which were washed and reused again and again. Home textiles and furnishings were majorly seen in the market during festivals only.

Now, thanks to the increasing number of households, growth of Indian retailing, rising disposable incomes, growth of the housing, hospitality and healthcare sectors along with mounting consumerism, we are witnessing a change in Indian middle-class lifestyle. People now, especially the young working couples, spend a considerable amount on interiors to give a trendy and modern look to their homes. All these factors have increased the demand for home textile products by 30-40% per annum.

Further, with e-commerce giants adding home segments to their websites, home furnishings and textiles have become even more appealing to the public. Be it cut-length curtains or readymade home textile items, the whole process of shopping has become hassle-free. A growing demand for high-quality home furnishings on e-commerce websites from around the world can be seen clearly.

India, in particular, is a home to some of the biggest home textile manufacturers including the likes of Welspun (3rd largest towel producer), Dicitex (5th largest furnishing fabrics producer) and Trident (largest terry towel manufacturer). Additionally, several Indian brands such as Spread, Birla Century, Super Net, ABN, etc. are renowned globally and growing at a healthy pace. Even some of the international brands, such as UCB, Espirit Home and many others, have witnessed a growth rate of 20-30% in the Indian home textile market.

The home textile industry in India is varied in terms of pricing, colours, design and even consumers. There are some who prefer international brands with no constraint on price while there are consumers who look for high volume at reasonable prices. Today, a consumer is becoming highly aware of the environment, safety and hygiene and thus, the demand for features like stain-resistant, fragrance, flame retardant in home textiles has gone exponentially high.

In 2014, India’s share in global home textiles was 11% that suggested a strong potential to grow. Indian textile companies get some favourable advantages in the rising global market. These include the huge availability of low-cost cotton, cheap labour, promising Government policies and the current trend of depreciation of Indian Rupee vis-à-vis foreign currency. All these factors have supported the potential of Indian textile players to reach great heights in the segment.

Mayank Mohindra is an author on apparel, fashion and textile industry. His articles are based on latest apparel industry news, textile news and/or analysis of the dynamics of global apparel trade, and fashion industry.