The initiative comes as the third annual UK Foreign Direct Investment in California report, published by the Los Angeles County Economic Development Corporation in partnership with the British Consulate General in Los Angeles, confirms that more than 2,300 UK enterprises have set up in California, sustaining nearly 100,000 jobs. More than half of these jobs (approximately 52,500) are located in the five-county greater Los Angeles area.
The mission of the new UK Investor Network Southern California (UK IN SoCal) is to help UK companies navigate their business growth in greater Los Angeles, as well as unlock new business opportunities for member companies by:
- Enabling introductions, networking, referrals and partnerships
- Providing soft landing and mentorship for new-to-market companies
- Facilitating knowledge transfer on doing business in the US
- Building British business profile in greater Los Angeles
UK IN SoCal and its sponsors will host and organise events throughout the year to encourage networking; provide insights on specific issues and relevant topics; and nurture business opportunities for its members. UK IN SoCal also offers a network of mentors and advisors across a range of industries to counsel UK companies new to investing in the greater Los Angeles region. The network includes respected industry leaders like Pearson CEO Andy Bird, as well as services firms that specialise in international expansions, like Wilson Sonsini Goodrich & Rosati, HSBC and RSM.
UK IN SoCal will provide access to special offers and introductions to service partners and local entities, such as governments and Chambers of Commerce, who are eager to work with UK companies to create more jobs and support further investment in the greater Los Angeles region. UK IN SoCal is partnering with global flexible workspace provider WeWork for a special offer to members.
“The US is the UK’s top destination in the world for outward investment, creating a positive impact for both countries” according to Emma Wade-Smith, His Majesty’s Trade Commissioner for North America. “It’s great to see the importance of this investment flow – including in sustaining thousands of jobs in Southern California – corroborated in the latest report. Existing British investors in Southern California have a wealth of experience navigating the differences in business environments, between the UK and California. The creation of the UK IN SoCal network taps into this as an important way to help newcomers succeed in the greater Los Angeles region and will be a valuable addition to the wider support that the UK Government offers to our companies.”
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Emily Cloke, HM Consul General, Los Angeles: “By creating UK IN SoCal, we want to build on the UK’s position as the 2nd largest foreign direct investor in California and help bring more UK companies to this wonderful region. UK IN SoCal will enable companies to share expertise and learn from each other, helping those new to California succeed and strengthening the ties that bind our people together”.
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Andy Bird, CEO, Pearson (business mentor): “Southern California is an amazing and dynamic region to live, work and invest. SoCal’s diversity and scale is a real benefit, but it can be hard to “navigate”, both personally and professionally, when you first arrive. I’m delighted to have been asked to act as a mentor for UK IN SoCal to help others follow the same journey I started two decades ago.”
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WeWork: “WeWork is thrilled to partner with the British Consulate to support the business growth of UK companies in Southern California,” said Elton Kwok, Territory Vice President at WeWork. “Our fully furnished, move-in ready workspaces provide turnkey solutions for companies entering the US market, and we’re excited to help UK IN SoCal members come together to do their best work.”
