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Miami and New York beckon for Scots’ firms wanting to do business in the US

South Beach, Miami.
South Beach, Miami.

Scottish business leaders are targeting the US for two non-virtual trade missions that are among the first since the start of the Covid pandemic.

Around 25 firms across key sectors including technology, finance and food and drink are expected to join trips to Miami and New York.

New York delegates will be guests for the return of Tartan Day Celebrations in April.

The opportunities for Scottish businesses in the USA are huge.”

Ian Houston, president of Scottish Business Network Americas.

The transatlantic business quests are being organised by the Scottish Government-backed International Trade Partnership (ITP).

Its virtual missions to Columbia and Italy have helped more than 20 firms.

Financial services are a key focus for the in-person US trade missions.

With a presence already established in Miami, Florida, Scottish financial services powerhouse abrdn views the region as a key market, giving it access to new business opportunities throughout Latin America.

Florida is gateway to a ‘vast set of opportunities’

Menno de Vreeze, head of business development, international wealth management Americas, abrdn, said: “South Florida is one of the fastest growing cross-border markets for overseas clients, given its approximate position near Latin America and a sophistication of the marketplace.

“For Scottish financial businesses, Florida offers access to a vast set of opportunities, which include the US domestic wealth market, with a large increase of wealth and high net-worth individuals, companies moving to Florida and international clients booking their assets in Florida for diversification benefits.

“We think it is important to have a local presence in Florida in order to be close to the decision-makers and to maximise the opportunity set the United States represents.”

Fifth Avenue, New York.

Ian Houston, president of Scottish Business Network Americas and also a GlobalScot, said: “The opportunities for Scottish businesses in the USA are huge, and those who take the initiative and proactively forge links through initiatives such as the ITP trade missions will be able to capitalise on them.

“Scottish Business Network in the Americas is very excited to be working on these trade missions, and we look forward to partnering with our many friends to see more successful business and human linkages between Scotland and the United States.”

Ian Houston.

Businesses wishing to enter the US through Miami and New York markets will gain access to networking, events, site visits and B2B appointments as part of the missions.

The ITP programme is a partnership between the Scottish Government and Scottish Chambers of Commerce network, and missions are led by local chambers of commerce.

The trip to Miami, led by Inverclyde Chamber of Commerce, takes place on March 29-31. The New York mission, led by Forth Valley Chamber of Commerce, runs from April 6-8.

International trade consultant Diana Peralta, of DP Global, which helps facilitate the ITP trade missions, said: “We do the background work to ensure they’re suitable and interested in your product/service in advance.”

Diana Peralta, international trade consultant, DP Global.

ITP’s virtual Colombia “trip”, which was the ITP’s first trade mission to South America, involved 16 businesses who took part in more than 60 meetings with key contacts set up by the partnership.

Some of these firms have gone on to forge working relationships with contacts in Colombia, seen as a gateway to lucrative Latin American and Caribbean markets.

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