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The State of Business in the United States: An Overview



The United States of America
The United States of America

The United States boasts one of the world's largest and most dynamic economies. From technological innovations in Silicon Valley to financial services in New York, the U.S. is home to a diverse array of industries. This blog will provide an overview of the U.S. business landscape, highlighting key sectors and their impacts on the economy.







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Key Sectors Driving the U.S. Economy


  1. Technology and Innovation

  2. Financial Services

  3. Healthcare

  4. Manufacturing

  5. Agriculture



1. Technology and Innovation


The U.S. leads the world in technology and innovation, largely due to the concentration of tech companies in Silicon Valley, California. Companies like Apple, Google, and Facebook are headquartered here, driving advancements in software, hardware, and internet services. The tech industry significantly contributes to the U.S. economy by creating high-paying jobs and fostering startups that grow into major corporations.


Example: Apple Inc. is a prime example of U.S. innovation. Founded in 1976, Apple has grown into one of the world's most valuable companies. Its product line, including the iPhone, iPad, and Mac computers, has revolutionized consumer technology. Apple's continuous investment in research and development (R&D) fuels new product lines and technological advancements.




2. Financial Services


New York City is known as the financial capital of the world. It houses the New York Stock Exchange (NYSE) and numerous major financial institutions such as Goldman Sachs and JPMorgan Chase. The financial sector is crucial for economic growth, providing the necessary capital for businesses to expand and innovate.


Example: JPMorgan Chase & Co., the largest bank in the U.S., plays a significant role in the global financial system. It provides various financial services, including investment banking, asset management, and private banking. By offering these services, JPMorgan Chase helps companies access capital markets, manage risk, and grow their businesses.




3. Healthcare


The healthcare sector is one of the largest and fastest-growing industries in the U.S. Companies in this sector include pharmaceutical firms, biotechnology companies, and healthcare providers. The U.S. healthcare industry is known for its high level of research and development, leading to medical advancements and improved patient care.


Example: Pfizer Inc., a leading pharmaceutical company, has been at the forefront of medical innovation. In 2020, Pfizer developed one of the first COVID-19 vaccines, a significant breakthrough in the fight against the pandemic. This achievement showcases the critical role of the U.S. healthcare sector in global health.




4. Manufacturing


The U.S. manufacturing sector is a cornerstone of its economy, producing a wide range of goods from automobiles to electronics. American manufacturing is characterized by its use of advanced technologies, including robotics and automation, which enhance productivity and efficiency.


Example: The Ford Motor Company, established in 1903, remains a key player in the automotive industry. Ford's innovations, such as the introduction of the assembly line, have significantly impacted manufacturing processes worldwide. The company continues to evolve, focusing on electric vehicles and sustainable practices.




5. Agriculture


Agriculture has long been a vital sector of the U.S. economy, providing food and raw materials domestically and globally. The U.S. is a leading producer of corn, soybeans, and beef. Advances in agricultural technology, such as genetically modified crops and precision farming, have increased productivity and sustainability.


Example: Monsanto, now a part of Bayer, has been instrumental in developing genetically modified crops that resist pests and diseases, reducing the need for chemical pesticides. This innovation helps farmers increase yields and improve food security.



 


The United States' business landscape is diverse and robust, characterized by its technological advancements, financial acumen, healthcare innovations, manufacturing prowess, and agricultural productivity. These sectors collectively drive economic growth, create jobs, and improve the quality of life. By fostering a conducive environment for innovation and entrepreneurship, the U.S. continues to be a global leader in business and industry.


For further reading and detailed reports, refer to the following links:



This comprehensive overview highlights the significant sectors that underpin the U.S. economy, providing a glimpse into the complex and dynamic world of American business.



 


Big Businesses in the United States: Pillars of Economic Strength


The United States is home to some of the world's largest and most influential businesses. These companies span various industries, from technology and finance to healthcare and consumer goods, playing critical roles in shaping the U.S. economy. In this section, we will explore several major corporations, detailing their impact and contributions to the business landscape.


Prominent U.S. Corporations


  1. Amazon

  2. Walmart

  3. Microsoft

  4. Berkshire Hathaway

  5. Johnson & Johnson



1. Amazon


Amazon, founded by Jeff Bezos in 1994, began as an online bookstore and has since transformed into a global e-commerce and technology giant. Headquartered in Seattle, Washington, Amazon's vast range of products and services includes retail, cloud computing, and artificial intelligence.


Example: Amazon Web Services (AWS) is a subsidiary providing on-demand cloud computing platforms and APIs. AWS has revolutionized the IT industry by enabling businesses to access scalable computing resources without the need for physical infrastructure. This innovation supports startups and large enterprises alike, fostering growth and efficiency across multiple sectors.




2. Walmart


Walmart, founded by Sam Walton in 1962, is the world's largest retailer by revenue. With thousands of stores across the U.S. and international markets, Walmart is a key player in the retail industry. The company's success lies in its ability to offer a wide variety of products at low prices, catering to a broad consumer base.


Example: Walmart's investment in e-commerce and technology has expanded its market reach. Initiatives like Walmart+ (a membership program) and partnerships with tech firms for improved logistics and customer service demonstrate Walmart's commitment to innovation in retail.




3. Microsoft


Microsoft, co-founded by Bill Gates and Paul Allen in 1975, is a leading technology company known for its software products, including the Windows operating system and Microsoft Office suite. Headquartered in Redmond, Washington, Microsoft has diversified its offerings to include cloud computing, gaming, and artificial intelligence.


Example: Microsoft's Azure is a cloud computing service that competes with AWS. Azure provides a range of cloud services, including computing, analytics, storage, and networking, which help businesses manage their operations more efficiently. Microsoft's focus on cloud technology has positioned it as a major player in the tech industry.




4. Berkshire Hathaway


Berkshire Hathaway, led by Warren Buffett, is a multinational conglomerate holding company based in Omaha, Nebraska. It owns a diverse portfolio of businesses in sectors such as insurance, energy, transportation, and consumer goods. Berkshire Hathaway's investment strategy and management have made it one of the most respected companies in the world.


Example: Geico, a subsidiary of Berkshire Hathaway, is one of the largest auto insurers in the U.S. Known for its competitive pricing and extensive advertising campaigns, Geico has become a household name and a significant contributor to Berkshire Hathaway's success.




5. Johnson & Johnson


Johnson & Johnson, founded in 1886, is a leading healthcare company that develops medical devices, pharmaceuticals, and consumer health products. Based in New Brunswick, New Jersey, the company's commitment to research and development has led to numerous medical advancements and improved healthcare outcomes.


Example: During the COVID-19 pandemic, Johnson & Johnson developed a single-dose vaccine that has been crucial in the global vaccination effort. This innovation underscores the company's role in addressing public health challenges and advancing medical science.




The Role of Big Businesses in the U.S. Economy


Big businesses in the United States drive economic growth by creating jobs, fostering innovation, and contributing to global trade. These corporations invest heavily in research and development, leading to technological advancements and improved products and services. Moreover, they play a significant role in the stock market, influencing investor sentiment and economic stability.



 


The United States' economy is significantly shaped by its major corporations, which span diverse industries and drive growth through innovation and investment. Companies like Amazon, Walmart, Microsoft, Berkshire Hathaway, and Johnson & Johnson not only lead their respective sectors but also contribute to the overall economic health of the nation. Understanding the impact of these businesses provides insight into the strengths and dynamics of the U.S. economy.


For further reading and detailed reports, refer to the following links:



This exploration of prominent U.S. businesses highlights the significant roles they play in driving economic prosperity and shaping the business landscape, providing a comprehensive understanding of their contributions and impacts.



 


The Role of Small Businesses in the United States: Backbone of the Economy


Small businesses are a fundamental part of the U.S. economy. They create jobs, drive innovation, and contribute to the economic health of communities across the nation. In this section, we will explore the significance of small businesses, providing examples and detailing their impacts on the economy.


Key Aspects of Small Businesses


  1. Job Creation

  2. Innovation and Entrepreneurship

  3. Community Impact

  4. Economic Diversity

  5. Challenges and Support Systems



1. Job Creation


Small businesses are major job creators in the United States. According to the U.S. Small Business Administration (SBA), small businesses account for 99.9% of all U.S. businesses and employ nearly half of the country’s workforce. This makes them crucial for reducing unemployment and driving economic growth.


Example: A local bakery in a small town employs a dozen people, providing jobs and contributing to the local economy. By sourcing ingredients from nearby farms and suppliers, the bakery supports other small businesses in the area, creating a network of economic activity.




2. Innovation and Entrepreneurship


Small businesses are often at the forefront of innovation and entrepreneurship. They can quickly adapt to changing market conditions, experiment with new ideas, and bring unique products and services to market. This flexibility allows them to drive innovation in various industries.


Example: Spanx, a company founded by Sara Blakely in 2000 with $5,000 in savings, revolutionized the shapewear industry. Starting as a small business, Spanx grew rapidly due to its innovative products and strong customer focus, eventually becoming a well-known brand worldwide.




3. Community Impact


Small businesses play a vital role in their communities by providing essential services, supporting local events, and contributing to the community’s overall well-being. They help build a sense of identity and pride in local areas, fostering strong community bonds.


Example: A neighborhood coffee shop not only serves coffee but also acts as a community hub where locals gather, socialize, and hold meetings. The shop supports local artists by displaying their work and hosting live music events, enriching the cultural life of the community.



4. Economic Diversity


Small businesses contribute to the economic diversity of the United States. They operate in various industries, from retail and hospitality to technology and healthcare, providing a wide range of products and services. This diversity makes the economy more resilient and adaptable to changes.


Example: Etsy, an online marketplace for handmade and vintage goods, supports millions of small business owners who sell unique products. By offering a platform for artisans and crafters, Etsy promotes economic diversity and provides opportunities for small entrepreneurs to reach global markets.




5. Challenges and Support Systems


Despite their importance, small businesses face numerous challenges, including access to capital, regulatory hurdles, and competition from larger companies. However, various support systems are in place to help small businesses thrive, including government programs, grants, and mentorship opportunities.


Example: The Paycheck Protection Program (PPP), implemented during the COVID-19 pandemic, provided forgivable loans to small businesses to help them retain employees and cover essential expenses. This program was crucial in helping many small businesses survive the economic downturn caused by the pandemic.




 


Small businesses are the backbone of the U.S. economy, driving job creation, innovation, and community development. Their diverse contributions make the economy more robust and adaptable. Understanding the role of small businesses highlights the importance of supporting these enterprises to ensure continued economic growth and prosperity.


For further reading and detailed reports, refer to the following links:



This exploration of small businesses underscores their critical role in the U.S. economy, showcasing how they contribute to job creation, innovation, and community well-being. By recognizing and supporting small businesses, we can foster a more dynamic and inclusive economic landscape.



 


Prevailing Businesses in New York City: A Hub of Economic Activity


New York City (NYC) is one of the most dynamic and influential cities in the world, often referred to as the financial and cultural capital of the United States. The city's diverse economy is driven by several key industries, each playing a vital role in its overall economic health. In this section, we will delve into the prevailing businesses in New York City, highlighting their significance and contributions.



Key Industries in New York City


  1. Financial Services

  2. Media and Entertainment

  3. Technology

  4. Healthcare

  5. Tourism and Hospitality



1. Financial Services


New York City is renowned for its financial services sector, home to Wall Street and the New York Stock Exchange (NYSE). This industry is a cornerstone of the city's economy, influenc