INVESTING IN THE FUTURE: MARCH OVERVIEW
It’s not a secret that we love to invest our time and resources in the knowledge and great projects. We can say that March was somehow focused on that.
Throughout the whole month we talked about our the projects that we became the part of and new challenges that’re coming our way.
We want to start of this overview with repeating the reasons “Why should you do business in the USA?” We and our partner Trans-Atlantic Market Development made a little presentation for everyone to see. We can list you about a hundreds of reasons to do business in the USA, but we outlined a few of them.
THE USA WELCOMES ENTREPRENEURS FROM ABROAD MAKING IT EASY TO DO BUSINESS
- The regulatory framework is corporate friendly to both domestic and foreign entrepreneurs
- The administrative and regulatory requirements are less daunting than those in the EU
- There are NO capital requirements to establish your business
- USA is rated as one of the locations on which are the easiest to start and run a business activities
- USA is rated as one of the countries with the most suitable entrepreneurial climate
- USA is one of the leading countries in the world in which are convenient to develop global innovations
US INTEREST IN EUROPEAN GOODS & SERVICES CONTINUES TO GROW
- US goods imported from the EU totaled $452 Billion in 2019 (up 6% from the prior year and up 93% from a decade prior)
- US services from the EU totaled $146 Billion in 2019 (up 9% from the prior year and up 39% from a decade prior)
A SINGLE MARKET
- the market offers a homogeneous group of clients (consumer) who speaks the same language and shows similar behaviour in relation to the purchase, consumption and services
- USA was rated as the first location for foreign investment
- USA market offers access to 325 million consumers
THE US IS THE WORLD’S LARGEST CONSUMER MARKET
- USA offers the largest consumer market with a GDP of $20 trillion and 325 million people.
- Household consumption is the highest in the world - that considers more than a quarter of world consumption per household
We also want to take a second to talk about AP episode - our name, logo and slogan connection.
As promised, we are explaining everything you need to know behind our name Armatus Prudentia, owl as our new logo and ‘BE WISE!’ as our new slogan! Armatus Prudentia (/arˈmaː.tus/pruːˈden.ti.a/) means 'armed with wisdom' in Latin. Part of our team as law graduates during their education were often in contact with the Latin language, in addition, our CEO has a special sympathy for this language. That is how we came up with the name ‘Armatus Prudentia’. Owl as part of our new logo came naturally. Owl represents the deep connection with wisdom, good judgment, and knowledge. Like the owl, which is known for its sharp vision and keen observation, we like to think our team has just that – sharp mind and patience for detailed observation. Of course, nothing comes without hard work and passion for our work. And finally a word or two about our slogan ‘BE WISE!’. The connection is pretty obvious, BE ARMED WITH WISDOM, BE ARMATUS PRUDENTIA – BE WISE!
Now that we covered the AP part of overview, we just have to add one GDPR news.
In the UK, the processing of data is governed by the so-called “UK GDPR” and the Data Protection Act 2018, which are based on the EU GDPR and the Law Enforcement Directive (LED). EU law has shaped the UK's data protection regime for decades. On 19th of February 2021, the Commission launched the process towards the adoption of two adequacy decisions for transfers of personal data to the UK, one under the GDPR and the other for the LED. The publication of the draft decisions is the beginning of a process towards their adoption – you can find below the draft decision regarding the GDPR. Now the opinion of the European Data Protection Board (EDPB) must be obtained and the Commission will request the green light from a committee composed of representatives of the EU Member States. Following that, the Commission could adopt the final adequacy decisions for the UK. The draft adequacy decisions sent to the EDPB concern the flow of data from the EU to the UK. Data flows in the other direction – from the UK to the EU – are regulated by UK legislation, which applies since 1 January 2021. The UK decided that the EU ensures an adequate level of protection and that therefore data can flow freely from the UK to the EU.
We’re going to continue to talk about GDPR related news, new projects and challenges that are coming our way, so stay tuned.