My Website is aimed at the UK market, however, 65% of the hits come
from outside of the UK, and 50% of all hits come from the USA. My site
is hosted in the US, my site is a .com site, however my business is in
the UK. What can I do so the site is recognised by UK search engines
more

Is it too late to take out a co.uk website? That would probably do
more than anything else to get the search engines to recognize it as a
uk site.

simply put the region = UK in metas - so that search engine will
recognize that you are a UK based website.  Plus you can write a line
in the bottom of the page c copywrite XYZ London, UK Corporate. These
would help you out.

<meta http-equiv="Content-Language" content="EN-GB">
<META NAME="Geography" CONTENT="London, United Kindom">
<META NAME="zipcode" content="W5 1JX ">
<META NAME="city" content="London">
<META NAME="State" content="London">
<META NAME="country" content="United Kingdom">

Thanks