Trumpmaybegoodfor business, firms are told
DONALD Trump can be good for Scottish firms looking to trade with America, business leaders have been told.
An American attorney speaking in Glasgow has told bosses not to fear Trump and instead look at the opportunities for trade his presidency presents.
As protests grow against President Trump in America and in Scotland and his administration runs into early problems with resignations and daily controversy, Robert Dewar addressed a business audience in the city and highlighted his reasons for optimism.
He said while many will question whether they want to begin or even continue trading with the US they have, in his opinion, little to be concerned about.
Mr Dewar said: “The US economy is growing and businesses should be assured that both US consumers and businesses have money to spend on foreign goods and services.
“While some of the headlines about Trump may be negative to say the least, business activity is gaining momentum and growth is expected to continue.”
He said while other aspects of the new President’s agenda may be “questionable” he has an agenda to create growth and increase economic activity.
He said none of the ‘Putting America First’ policies or controversial Executive Orders are targeted at Scottish or British firms.
He added: “On the whole, Scottish companies are viewed as honest, entrepreneurial and trustworthy trading partners in the US and are well received throughout the country.
“The US remains a place where Scottish business will continue to be welcome and companies should use that positive relationship to exert influence where possible.”
Speaking at an event hosted by accountancy firm French Duncan he advised of ways to get round the nationalist policies that could restrict foreign firms.
He said: “Such nationalism may have adverse consequences for foreign companies, but there are ways around that. One option for Scottish businesses trading in the US is to create a subsidiary with a US trading address, phone number and US styled officer titles to create the perception for those trading partners that they are dealing with an American entity.”
Colin Abercrombie, Partner at French Duncan said: “Many of our clients are looking to markets in the US and logically this leads many of them to consider opening subsidiary organizations based there.
“International expansion of this nature can be fraught with challenges for an SME business and it is vital that they have suitable, on the ground, advisers in their target location. It is also vital that the chosen US agents work closely with existing UK advisers.”