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Business Profile:
Business Profile
Fortune magazine ranked Denver the second best business city in America. Its main industries are biomedicine, environmental products and services, information technology and business and financial services.

Some 74,000 people are employed in the business and financial services sector and a further 7500 in biomedicine, which is spread over 110 companies and nine research institutions, including Clare Chemical Research, who are at the cutting edge of technology for visualising DNA, and Avidity, who develop molecular biology products. State-of-the-art research centres like the Eleanor Roosevelt Institute and others at local universities are producing a steady stream of trained personnel, which in turn is attracting other biomedical companies to relocate to Denver. Electronics also play a significant part in the economy. Telecommunications giants US West, Qwest and the cable company TCI are established in the Denver area. TCI has a 23% market share of the American cable market and a financial stake in most of the cable programme companies.

Denver was founded on a gold rush and mining, and, although the mining industry is in decline, it still employs 6900 people. A significant increase in air traffic to and from the new international airport has seen growth in this sector, with United Airlines now employing 8000 people and planning further expansion.

By far the largest sector of the economy is, however, the service industries, accounting for 30.9% of the total workforce, followed by the wholesale and retail trade employing 23.8%. The Government, with 13.4% of the workforce, is the largest single employer in the city. However, the low level of unemployment (4.1% in comparison to a national average of 4.2%) has led to shortages of labour in many sectors. As the costs to businesses and individuals of living and working in Denver continue to rise, the city is losing the competitive edge it had during the last decade of the twentieth century. Nevertheless, all projections show an economy continuing to grow albeit at a slower rate than in the past ten years. The main business areas are centred on Cherry Creek, Denver Technological Centre and the Stapleton Business Centre at the former international airport.
Business Etiquette
Good business etiquette is essential in America and the most successful businesspeople are those who exhibit confidence, appear sincere and convey the impression that they are prepared to go beyond standard service. Standing up when greeting someone conveys respect, while a strong handshake, a friendly smile and establishing eye contact will confirm friendliness, honesty, confidence and professionalism. Appointments for meetings should be arranged in advance and times adhered to. Most meetings will start with an exchange of business cards and a little small talk before getting down to business.

Appearance matters and a formal business suit, neatly freshly pressed trousers, fresh shirt and neatly groomed hair is the order of the day. Even on ' dressing down days', when casual clothes are worn by everyone from the office boy to the Managing Director, it pays to ensure that the clothes are new, clean and smart. Normal business hours are 0800-1700 Monday to Friday.



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