Why set up business in the UK?
Despite the English weather and the BREXIT vote in 2016, the UK is still one of the most popular destinations in the world as a place for international companies to set up trading and investment operations.
Here are a few reasons why the UK is such a popular choice of location.
- The UK is the no.1 destination for inward investment FDI (Foreign Direct Investment) in Europe. That means the UK has more companies relocating and developing their businesses here than in any other European country.
- The UK has a highly educated and skilled workforce and 4 of the world’s top 10 universities are based in England – Oxford, Cambridge, Imperial College London and University College London.
- According to the World Bank the UK has one of the most flexible labour markets in Europe: The World Bank ranks the UK the second best place in Europe to employ workers, just behind Denmark.
- The UK is one of the most productive places for innovative companies in the world, ranking second only to the USA for the quality of its research base.
- The UK is home to the modern day English language: the international language of business. Operating in English gives companies in the UK a natural advantage when communicating globally.
- London is the no.1 place for European tech entrepreneurs: ‘Tech City’ in East London is the 3rd largest tech start-up cluster in the world after Silicon Valley and New York.
- Setting up a limited company in England can be achieved within one day with a share capital of just £1.
- The World Bank has reported that the UK is one of the easiest countries to do business with out of all major OECD countries.
- The UK offers many tax incentives and Government grants to both British and foreign companies based in the UK, such highly attractive R&D tax credits. The UK also offers highly attractive tax incentives to UK investors who invest in start-ups based in the UK.
- The UK corporate tax rate is just 19% from April 2017, the lowest corporation tax rate out of all the G20 countries and falling to 17% in April 2020.
- London, the UK’s capital city is the largest financial centre in the world and is home to hundreds of global banks and financial institutions. London offers many sources of capital, such as venture capital funds, private equity funds, as well as many business angels and high net worth individuals. The UK is also one of the world’s leaders in crowdfunding activities which is also regulated by the FCA.
- The UK is the ‘most internet based major economy’, with internet related trade contributing 8.3% to the UK economy, according to a recent report from the Boston Consulting Group
If you believe we, or any of our professional business partners can assist your business to set up and operate in the UK, please contact us.
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