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The city of Los Angeles is the second most populous city in the United States.
The main economic activities in Los Angeles include international trade, technology, culture and entertainment. An innovation center for the twenty-first century, the people, great weather, institutions of knowledge and infrastructure have allowed the Los Angeles area to develop as a primary trade, business and cultural capital. The city counts as one of the biggest centers for manufacturing in the United States.
Los Angeles has the second best metro area when it comes to total exports by dollar value: the city has established networks to Latin American and Asian economies and infrastructure to move cargo by land, sea or air.
Korea, Japan and Taiwan, the major manufacturing nations in the Pacific, are all within easy reach. The importance of the city to international trade is demonstrated by the large number of US headquarters of foreign companies situated in the area.
The city has three international airports, with the busiest by far being Los Angeles International, also known as LAX. The other two are LA/Ontario International Airport and John Wayne Airport.
The major languages in Los Angeles are English, Spanish, German and other Germanic languages.
The city has around 4 million inhabitants, made up of whites, blacks, Native North Americans (including Eskimos and Aleuts), Hispanics, Asian and Pacific Islanders.
In addition to being multicultural, workplaces in Los Angeles also tend to be multi-generational, consisting of “Boomers,” “Generation X” and “Millennials.”
The Los Angeles market is trending towards analytics, cloud computing, big data and mobility. Social networking and collaboration tools are also making an impact. These emerging technologies are quickly changing the Los Angeles marketplace, affecting the way the inhabitants of that city work, interconnect, collect tactical insights and make decisions.
The Entertainment Industry in particular has been affected by globalization and the digitization of its content.
Globalization is changing and broadening the market prospects of the newly-converging media industry, while digitization is shifting the manner in which content – info, news and recorded content – is produced and distributed, and causing formerly divergent sections of the media and entertainment industry to come together into a single medium.
One of the biggest challenges for the smaller companies is the ability to keep up with the changing rules.
For mid-size firms, the challenge is how to keep a business operating lean enough to make a profit but still meet the demands of consumers. For large companies and multinationals, one of the challenges is restructuring and modifying debt.
The opportunity for small businesses lies in planning, and for mid-size businesses in being flexible enough to gain market share. For large companies the kind of funding available creates some magnificent opportunities for corporations to get the suitable growth capital for development – but only if they’re ready.