The IT Industry In The US And How It Offers Considerable Growth And Opportunities

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With more and more businesses now looking for new opportunities to expand and grow their business, it may be that some will look to expand their business in new countries and the US presents one of the best opportunities for growth in the IT industry. According to cyberstates, the tech industry accounts for $1.8 trillion!

The potential for growth and the wealth of opportunities offered in the US are great and may be the answer for growing your business, however, the process of moving a business to America isn’t straightforward and trying out your business model can be beneficial. Foothold America – a business specialising in helping foreign businesses start up in the states – lets you explore the opportunities and options in moving your business to the US but without exposing yourself and your business to a big risk.

In 2020,  IT expertise is in high demand, with lots of opportunities in many sectors:

●     In 2019 the jobs with the most promise were data scientist and site reliability engineers, according to linkedin

●     12 million people are 1`employed in tech roles in the US with 261,000 roles created in the IT industry alone last year.

●     1.5 million tech workers are software and web developers

●     40,500 new businesses were launched in the IT industry in 2018

The US has always and continues to be seen as a major player in leading technology innovation, investing and growing the ever changing industry with many options for companies to build and diversify.

The US invests big in IT:

The US is investing heavily into innovation with $3.6 billion being invested into innovation research and development in 2017 alone. Due to the large potential in the states it is the ideal place to launch your company. With many companies seeing the US as the place to invest, it could offer a good opportunity to test the waters with your business, especially as the majority of investments came from foreign-owned firms in the IT Industry.

Another area in which the US is investing in is Expansion with it being another key priority in the US, $7.5 billion used to grow new business with a large amount of investments coming from UK, German and French companies. Other countries investing heavily in the US only highlights that America is the place to be for up and coming IT businesses.


The two main IT sectors in 2020:

In 2020, there are two key sectors where growth and investment is evident in regards to new technology, Cyber Security and Artificial Intelligence (AI). Both have seen massive financial gain, some of the biggest seen in the US.

AI has seen diversification into the healthcare industry with medicine and life sciences having $32 million invested in the first 6 months of 2018.

In 2015 the AI industry was a $5 billion market but by 2020 its predicted the market will have reached $12.5 billion and that’s just the start with more growth expected, other developments being the likes of Alexa, Siri and other devices. With AI fast becoming more utilised across the world and in more industry sectors, the opportunities here are growing and it poses a good potential for expansion with this being funded as top priority by the US.

Cyber Security is another area being invested heavily in 2020 with more than $60 billion is being spent in this area alone and with the US being the largest market of Cyber Security with industry growth by 14.15% (CAGR) between 2019 to 2024. The industry offers a wealth of opportunity and is at the forefront of the IT industry with the technology being developed now essential for keeping business in all sectors safe as cyber attacks becoming more common.

For more in depth information on the IT industry and the room for growth, see the full Foothold America report.

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A Manhattan-Based Startup Is Providing Free Access to Universities So Staff and Students Can Continue Holding Classes Throughout The COVID-19 Pandemic

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KUDO, a Manhattan-based startup will be providing free access to nearly 20 universities so trainers and students can continue holding classes through the COVID-19 pandemic. KUDO’s multilingual collaboration platform will allow the EMCI member schools to keep training the next generation of conference interpreters despite the containment measures.

The EMCI is a consortium of 16 universities offering high-level training in language interpretation. The Consortium was created by the European Commission two decades ago and has been sponsored by DG SCIC and the DG LINC (European Parliament) ever since. Thanks to this long-term partnership, the EMCI has become a point of reference for high quality conference interpreting globally.

There are approximately 150 students enrolled in EMCI courses across Europe, Turkey and Russia. Since the coronavirus pandemic, about seven or eight universities have banned onsite instruction. This means trainers now must deliver their language interpreting teaching remotely, which includes a few mock multilingual conferences every week.

” It’s important for us to continue our training classes and deliver the courses”, states Ms. Ildikó Horváth, EMCI’s President and the head of the Department of Translation and Interpreting at ELTE University, Budapest, Hungary.” I turned to KUDO over the weekend. In less than two hours, we had a full plan in place”, she adds.

KUDO a language-as-a-service platform that provides web conferencing with live interpretation in any language. Their technology offers the interpreter a feature-rich interface through which they can work. They enjoy high-quality video and audio, document sharing, even language relay. “We’re happy to support these 16 universities in their effort to usher into the market highly trained conference interpreters whose job is so crucial in our globalized world, says Fardad Zabetian, KUDO’s founder and CEO, before adding: “Our team has been working round the clock to ensure business continuity for our clients and partners.”

KUDO claims it can accommodate anything from scheduled business video calls to regional meetings to large online conferences in unlimited languages, for an unlimited number of participants.

Since the COVID-19 outbreak, the company has extended special offers to non-profits, educational institutions and international associations. In addition to the technology, KUDO makes available a roster of 2,000 trained conference interpreters and a network of partners on four continents. They are positioning themselves to support online meetings safely and professionally, no matter the language or the location of those in attendance.

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Canada’s Six Biggest Banks Take Decisive Action to Help Customers Impacted by COVID-19

Canada’s six largest banks today announced plans to provide financial relief to Canadians impacted by the economic consequences of COVID-19.

Effective immediately, Bank of Montreal, CIBC, National Bank of Canada, RBC Royal Bank, Scotiabank and TD Bank have made a commitment to work with personal and small business banking customers on a case-by-case basis to provide flexible solutions to help them manage through challenges such as pay disruption due to COVID-19; childcare disruption due to school closures; or those facing illness from COVID-19.

This support will include up to a six-month payment deferral for mortgages, and the opportunity for relief on other credit products.

Individual Canadians or business owners facing hardship are encouraged to contact their bank directly to discuss options that could be available to them.

These measures are an important first step and underscore the resilience of Canada’s financial system and the strength of our major banks. Banks will monitor evolving economic conditions and consider other measures if necessary.

Canada’s banks have a long history of standing by Canadians through challenging times and this commitment will continue throughout this crisis and beyond.

For more information, please visit: https://www.scotiabank.com/covid-19

About Scotiabank

Scotiabank is a leading bank in the Americas. Guided by our purpose: “for every future,” we help our customers, their families and their communities achieve success through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of approximately 100,000 employees and assets of approximately $1.2 trillion (as at January 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

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Critical Situations in Which to Use a Small Loan

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Sometimes in life, you’re hit with a bill that you just couldn’t have planned for. In these situations, it can be extremely stressful figuring out how you’re going to pay the bill, but there are options out there for you.

When something goes wrong and you’re left with no option but to pay a big expense, a flexible loan from a trusted lender could be exactly what you need. These loans allow you to get on with life and fix whatever emergency has presented itself, giving you time to pay back the money when you’re in a better situation.

Here are some of the main situations where people take out a small personal loan.

Medical Emergencies

One of the most common reasons for taking out Small Loans is to help pay for medical expenses. Even if you are covered by a national healthcare service or medical insurance, you may find there are still expenses you need to incur to help you make a speedy recovery.

Insurance policies from companies like AXA might help cover much of the care and equipment you need, but in some cases, people can be left waiting for their pay out when they need urgent access to money. In these cases, a loan can help people who have suffered medical complications get the care and equipment they need without having to wait.

If there’s any time to take out a loan to make sure you have everything you need, then one of the strongest reasons is your health or the health of a loved one.

Unexpected Expenses

No matter how much budgeting you do, there are some expenses you just can’t account for. When your car breaks down, or your boiler decides to stop working in the middle of winter, you don’t have much choice – you’ve got to get it fixed.

These things don’t come cheap, and if your finances are already tight then an extra £500 on car maintenance can easily put you in a difficult position. A small loan can help you through this problem by giving you access to the funds you need in the short term and allowing you to pay the money back when you get your paycheck.

It’s just that extra little bit of flexibility you need to overcome the unexpected bumps in the road that life tends to deal out from time to time. You need vital items such as your car to be able to go out and earn money, so fixing it is a necessity.

Home Renovations

Our homes are likely to be the most valuable items we own, but unfortunately, they also bring about some of our biggest expenses. Houses need updating from time to time, otherwise, they tend to start to fall apart and become uninhabitable.

Sometimes a renovation is urgently needed, and to get the job done you might need a small loan to make sure all the work is carried out properly. Building work doesn’t come cheap, but getting the renovation done now might be cheaper than waiting for the problem to get bigger before fixing it.

With the right loan, you might be able to fix the issue while it’s still a relatively small problem, saving you money versus waiting until the problem becomes more serious.

Weddings

Weddings are a once in a lifetime occasion that bring together family and friends for celebration. They’re also one of the expensive days of people’s year and paying for a wedding can put a strain on people’s finances.

Weddings aren’t something that happen every day though, and you want them to be memorable, so sometimes it can be beneficial to take out a small loan to make sure you’re going to have a day befitting of the occasion.

A loan from a trusted broker can help you pay for your perfect wedding and spread the payments out over a manageable period of time.

Moving House

There are all sorts of expenses associated with moving house, and sometimes it can leave you short of money for paying your day-to-day bills. Making sure your move goes through is important, but you’ve also got to be able to pay for the daily essentials, and a short-term loan can step in to help here.

Once you’ve completed your house move, then you can start paying back the money as you get back to normality. Sometimes you just need a little help to get you over the line with these things, and a loan can give you the flexibility to do this.

Whether you’re renting or purchasing, moving house can be a stressful time, so that extra cash can help make all the difference.

Funeral Costs

Funerals are obviously an upsetting time for all involved, but they also bring the added difficulty of funeral costs. The costs of the average funeral run into the thousands of pounds, and this is money many people don’t have spare.

You want to give your loved ones a dignified send off, but you also need to bear in mind your personal finances. One way to help balance the two is by taking out a short-term loan to help cover the funeral costs. This means you can spread the costs out over a period of time, making it easier to continue on with your day-to-day life.

This can be a particularly difficult time and it’s unfortunate that funeral costs can put so much strain on peoples’ finances but for many people it is the reality. In some cases, a flexible loan is a good option to help deal with these unforeseen costs.

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The USA is a Country of Professional Time Wasters

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The USA is a Country of Professional Time Wasters

American Employees Reveal That Only 2% Of Work Meetings Start On Time, with WiFi (mis)connections, late attendees and WhatsApp to blame for the time wasted.

MOO, the online print and design company has released new research that dissects the day-to-day time-delays affecting the modern meeting.  

Over half of Americans (53%) report that they’re kept waiting by late attendees, 44% of meeting time is wiled away with small talk, and technology issues claim another 36% of the time. 

A whopping 98% of meetings are delayed by 30minutes (half of the meeting) waiting for attendees – some of which cannot even locate the appropriate room. Two-thirds of attendees (63%) arrive five minutes late for an hour-long meeting failing to find the meeting room!  

The top five reasons for time-wasting before a meeting include: 

1.      Waiting for people to arrive (53%) 

2.      Small talk (44%) 

3.      Setting up technology (36%) 

4.      Finding dial-in / call details (19%) 

5.      WiFi (18%) 

People Delays 

Choosing where to sit posed problems for professionals as 66% claim to spend at least five minutes of their one-hour meeting considering the options. Men are less decisive than women and take two minutes longer to work out where they’d rather be seated. 66% of US workers also said they can spend up to five minutes simply getting the temperature of the room right before they’re ready to start.  

The research finds that shockingly 98% of one-hour meetings start late, which means only 2% start the agenda of a meeting on time. If not challenged with timekeeping, a further 20% of Americans spend up to 10 minutes per meeting daydreaming, which equates to one hour-a day. If day dreaming won’t cut-it, Millennials (25-34yr) will also spend 9 mins actually asleep in their meetings.  

How to fill the dead time? 55yr+ attendees will turn to small talk (57%), unlike the younger generations, where 43% of Gen Z (18-24yr) and 42% of Millennials (25-34yr) will turn to tech, spending approx. 10 minutes to get laptops and conference calls in-check.  

Tech Delays 

Technology proves to be a significant obstacle for Americans, as tech was blamed for 99% of meeting delays. With 1 in 10 people spending between 30 minutes to an hour trying to sort out the WiFi; whole meetings have been missed when trying to connect.  

Setting up for a presentation will baffle most people as 99% of people experience up to 30 minutes of delay before they present. Surprisingly, the younger generations can’t solve the issues more quickly, 42% of Millennials (25-34yr) spend time setting up tech before a meeting starts, compared to only 30% of Gen X (44-54yr). 

The delays don’t stop at the start of the meeting; distractions will also deter from productivity as 64% of people reported checking personal messages for nearly 20minutes of a one-hour meeting. Nearly a quarter (23%) also admit to splitting their attention and checking emails throughout meetings, spending up to 10 minutes on phones rather than being involved in the conversation.  

Regional Differences  

Not all States are the same when it comes to meeting protocol. The Midwest are the biggest time wasters when it comes to meetings. 60% of attendees are late to arrive to meetings, compared to 58% Southeast, 54% Northeast,46% Southwest and 45% in the West. Midwest meeting attendees are the biggest chatterboxes, with over half (53%) engaging in small talk, compared to just 40% of those in the northeast, 47% in the Southeast, 43% in the Southwest and 43% in the West.  

Choosing where to sit also poses problems across the country, with the Midwest being the most indecisive, as 79% take up to 5 minutes to decide where to sit, compared to 70% from the southeast, 68% from the West, 59% Northeast and 57% from the Southwest.  

The Midwest also are the region that take up the most time adjusting the temperature of a meeting room, with 79% spending up to 5 minutes getting the temperature of the room right, compared to 71% Southeast, 65% of those from the West, 60% from the Northeast, and 60% of those from the Southwest. 

The delays don’t stop at the start of the meeting. Those from the Southeast are the most distracted by checking personal messages (27%), including WhatsApp, taking up to 10 minutes of a one-hour meeting. This compares to 24% from the Northeast, 23% from the West, 21% from the Midwest and 15% Southwest.  

“So much time is wasted before meetings. Whether time is taken waiting for people to arrive or sorting tech – the delays are frustrating, especially if it happens frequently. Meetings are a productive tool for businesses but only when they’re run efficiently. The data that we have collated reveals that this is not commonplace,” said a MOO spokesperson. “We hope these findings will encourage people to work smarter when it comes to getting the most out of meetings.” 

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US Business News Q1 2020

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Welcome to the Q1 edition of US Business News magazine. As a quarterly publication we endeavor to provide you with a comprehensive breakdown all of the latest M&A activities, corporate issues and business trends from across the nation.

It’s been a strange couple of weeks. Following a disastrous few days for the Dow, the last 24 hours has seen a dramatic rallying turnaround – of course, putting aside concerns about its sustainability. While we’re probably not at all out of hot water when it comes to the greater economic impact of COVID-19, recovery in any form is certainly a pleasant sight. Elsewhere, though, there are reasons for more long-term optimism.

This issue of US Business News aims to spotlight just a few of the companies who are seeing growth and improvement through innovation and creativity. From next-generation insurance firms to healthcare facilities, we have hand-picked establishments which deserve to be recognised for ongoing excellence.

But this is just a small glimpse into this quarter’s issue. In the meantime, the team here at US Business News hope you have a wonderful rest of the month ahead.

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