In the grand theatre of global business, New York City shines at centre stage. Companies from around the world flock to this vibrant and powerful metropolis for all it offers - diverse markets and business services, high quality living, and a thriving arts and cultural scene, whose influence can be seen around the globe. To crack the US itself - with the world's largest and most technologically-advanced economy - is a goal of many foreign investors looking to significantly grow their clientele abroad. To land in NYC - the largest US city and world's epicentre of international business - is to strike gold. Its metro region's economy alone surpasses that of most countries. Were it a nation, NYC's GDP would be around £500 billion, ranking 10th in the world. "We have approximately 3,000 foreign businesses in the city and growing, which includes all five boroughs," says Terry Jackson, Managing Director for the New York City Commission for the UN Consular Corps and Protocol, a division of Mayor Bloomberg's office. "Most foreign-owned businesses setting up in New York City come because they have clients here. It's a gateway to other business in the country and it provides easy access to Mexico and Canada if companies have business there." One of every 10 NYC corporations is foreign. Forty-five Fortune 500 companies - twice as many as any other US city - call NYC home. The city offers a wide and affordable choice of real estate, and educated and talented employees. Raiding the Dunkin Donuts or trendy Starbucks on every street corner, they blend seamlessly into a caffeinated workforce that keeps the wheels turning. Economic times have been tough in the US with fluctuating oil prices, the sub-prime mortgage crisis and the current investment debacle on Wall Street. There is concern it will affect the chances of small businesses receiving loans they need. However, the consensus from NYC officials is that if foreign businesses are well prepared and have a speciality, they have a good shot at making it in the city. In fact, the current economic climate could spur foreign investment in the US, particularly on the export side with the weakened dollar. A who's who list of major international companies currently reside in NYC, including Japan's Sony Corporation, Siemens and Hugo Boss of Germany, Korea's Samsung, and Reuters and Thomson Financial of the UK. Many small and medium-sized businesses also arrive each year to reap the benefits of a NYC location. These companies follow a long trend tracing back to when the Dutch founded the city as New Amsterdam in 1624 and used it as a commercial trading post. At the turn of the last century it symbolised a new beginning for millions of immigrants sailing into its harbour, who infused the city economy with new industry and commerce. Today, NYC's population of more than eight million is packed into the boroughs of Manhattan, Brooklyn, The Bronx, Queens and Staten Island. They are connected by an extensive subway and commuter rail system that runs 24 hours - earning eternal recognition from crooner Frank Sinatra, who wanted to "wake up in the city that never sleeps." Approximately 38 percent of NYC's residents are foreign born and 170 languages are spoken. Out of this cultural melting pot has emerged the Harlem Renaissance, Broadway theatre, abstract expressionism, hip hop and punk. The city has also become an all-you-can-eat buffet with every type of food imaginable to satisfy the palate. Popular culinary hot spots are Little Italy, Chinatown and the intimate restaurants and cafes of Greenwich Village. INCREASED UK INDUSTRY The city has also shot up vertically since its birth, with skyscrapers adorning the financial district. When terrorist attacks rocked the city - bringing down the landmark World Trade Center's Twin Towers with the loss thousands of lives on September 11, 2001 - the tragedy led to a strengthened sense of spirit and productivity in NYC. In the seven years since, it has become an even more popular destination for international investors. UK businesses, in particular, have brought an increase in advertising, biotechnology, architecture, and consulting and media, supported by the city's location at the terminus of several transatlantic fibre optic trunk lines. Advertising and design firm Head First recently founded an office, and UK clothing company Top Shop will make its debut this month in SoHo. Manufacturing has been a large percentage of the US employment market; however it is on the decline as companies increasingly opt to source components overseas. It is the largest export market for the UK, which sends machinery, transport equipment, chemical products, beverages, tobacco and other items. For the US, the UK is the sixth largest export market after Canada, Mexico, China, Japan and Germany. STANDING OUT The NYC branch of the UK Trade & Investment Office is a valuable first contact for small and medium-sized British businesses that plan to make the leap across the pond. UKTI offers insight into the American market and provides information on immigration, bank accounts, taxes and legal matters, as well as referrals. Doing business in the US takes strategic planning as well as serious evaluation of what makes your company unique, says Rosie Dix, Consul and Head of NYC's UKTI branch. "This is one of the most competitive markets in the world. If you don't stand out you'll get lost in the crowd," she explains. "We recommend having a specialisation for your business." One company doing just that is London-based Sohnar Software, which opened an office in NYC's Midtown last year with UKTI's help. Sohnar is the creator of the Traffic software program, designed solely for the creative industry. It pulls all data into one place for clients who specialise in advertising, design, marketing and other industries to streamline processes and allow more time for the important things. The company has earned multiple honours, including the Queen's Award for Innovation this year, the highest accolade a UK company can receive from the Government. "You need to be world-leading in your class and luckily we are," says Sohnar Managing Director Tracey Shirtcliff. UKTI helped Sohnar find their main representative distributor in Atlanta, Georgia, says Richard Powell, UKTI Vice Counsel. "We identified the company's target audience and arranged an event where they presented their product to the potential rep." The lawyer whom incorporated Sohnar's US branch was also arranged through UKTI. The benefits of setting up quarters in NYC have been "multi-pronged," says Shirtcliff. Not only does it give the company access to foreign markets through the US, but the host country's volume of creative industry is much higher and there's more opportunity to share the UK's talent for designability. ADAPTING TO US MARKET Often there is a belief that the US and UK are very similar in their approach to business, but Dix warns this isn't the case. "There is a perception that everyone speaks English here and does things the same way. You should look at it as an entirely different market. Locating to the US was fairly straightforward for Sohnar, but Shirtcliff agrees there were adjustments to be made. "The challenge is localisation. There are different tax rates, the currency's different and all of the dates change in their order. It's a challenge, especially in the software realm in that changes have to be made throughout the system. "The company ethos has changed as well. We came to the US with the approach that we're a successful UK company. We've very much `US-ised' ourselves to be more approachable. We've hired US employees." Sohnar has also found their product is well-suited at a time creative companies are trying to streamline budgets and processes. "Everyone's trying to trim the fat nowadays," says Shirtcliff. "It's about honing our mission to the current market." AVAILABLE RESOURCES To get started in setting up the actual business, foreign investors can find help through the New York City Commission for the UN Consular Corps and Protocol. "People come to our office and we set them up to meet with lawyers and accountants on a pro-bono basis," says Jackson. "Despite how the city is perceived, people are really helpful here." The Commission offers free, one-hour sessions with Manhattan Bar lawyers to learn about tax and business protocol. (In the US, it is very easy to be sued). Additionally, it posts networking opportunities on its website, and can point new businesses to rentable space where they can gain footing before establishing permanent headquarters. "One of the things I hear most from businesses is they regret not knowing about the resources available to help them," Jackson says. "Definitely talk to the UKTI office and to the New York City and State bureaus before coming here to set up a business."