Last week, my colleague Asad Moghal and I had the opportunity to attend an event of great importance to many of our legal clients, and one of particular interest to me.
Having recently relocated to London from the United States and leading Byfield’s transatlantic client and partner relationships, I was eager to attend the British American Business event ‘Across the Pond: British Trade & Investment Success Stories in the US.’
Hosted at Barclays global headquarters in Canary Wharf, the event highlighted 17 British companies – from SMEs to global corporates – that have successfully made the journey across the Atlantic to grow their business in the US market. As the communications partner to many law firms who have successfully grown in both markets, we were very interested to learn about the synergies, shared challenges and economic opportunities.
Despite recent political and economic disagreements, the two countries remain strong trade allies, and law firms on both sides of the pond will continue to look across the Atlantic for growth.
Here are a few of my takeaways from the event:
- While Brexit remains top-of-mind for businesses, it doesn’t appear to be curtailing transatlantic investment or economic interest at this point.
- British business leaders are keenly attuned to American developments, down to hyperlocal political or economic happenings that open up business opportunities for their companies.
- The US and UK are the first and second-largest service exporters in the world
- The US and UK have over half a trillion pounds invested in each other’s economies
While political and economic pressures remain a concern moving forward, the tone of the event and the takeaways mentioned continue to highlight the economic relationship between the two countries will remain a priority.
As for the legal industry, the momentum of US firms opening UK offices and vice versa appears poised to continue. As will the opportunities for those firms to help businesses grow across the pond.