The UK is one of the biggest trade countries in the world, a lot of businesses have been set up here or subsidiary companies have been planted in the UK to help them grow and expand because this country is a prime location with a high population, to help businesses thrive and grow. The world bank has said that the UK has one of the highest ease of doing business scores out of all the countries in the world.
Here are some reasons doing business in the UK will be the bes for your business
- Highest Ease of doing business
- Easy Tax System
- Skilled and Experienced Employees
- Manageable Regulations
- Clean growth Economy
- The Language
Highest ease of doing Business
Between the dates of 2008 – 2019 the UK had a high rank of 11 in how a country regulates their environment with conducting business operations. An economy rank between 1-20 is a high score for a country, so a score of 11 shows the UK has friendly regulations for business. This score is ranked against other countries all around the world, giving the UK a high chance of being picked for business because of its ease in regulations.
Easy Tax System
In the G20, the UK has one of the lowest corporation tax rates, currently at 19%. Making the UK highly competitive with the rest of Europe. Knowing the ins and outs of the various complications of the taz system can be difficult when choosing where to set up your business. The UK’s tax system is easier to know and manage compared to various other countries within Europe. To help your business grow the UK offers attractive and competitive capital schemes.
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Skilled and Expereinced Employee
The UK has a huge pool of talented and skilled potential employees, with over 30 million people within the workforce, the UK has one of the largest workforces in Europe. The labour supply growth within the UK is set to grow even higher within the next 15 years, making it easier to find employees you know will work hard and be skilled in the way your business needs. Compared to France, Germany, Netherlands and Ireland, the UK has low overall labour costs.
The UK is now a country within the EU that is free to make and establish their own regulations. This allows the UK to tailor them to their business needs, the freedom of regulations they have been given fall under the fields of tax, finance and legal. This gives the UK an advantage when it comes to making business deals with other countries, as our low to manageable regulations are appealing when it comes to moving your company to the UK
Clean Growth Economy
Over the past 30 years the UK has proven that a green environment and economic success go hand in hand. Over 400,000 jobs are already being supported by the UKs low carbon industries, with a promise by 2050 to have zero greenhouse gas emissions adopted by the economy through a legal binding obligation. These promises and steps the UK are making will show investors and future partners that having a business in the UK is a good investment. Below are steps within the business sector the UK has made to ensure they are greener:
- Net zero aviation strategy
- The Industrial Decarbonisation Strategy
- The Biomass Strategy
- The Hydrogen Strategy
- The Heat and Buildings Strategy
- The Transport Decarbonisation Plan
For mor information on these steps please see link below:
The English language is one of the most commonly used languages all over the world. This makes it the most dominant language within business. Be it partners, shareholders, employees or any third party, the English language will be spoken and or fluent by someone, helping with deals and general communication. This will also allow you and your business to reach customers in other English-speaking countries (more than 60 countries worldwide have English as a dominant language) making your business go further.
Whether you are for or against Brexit, there has been some positive impacts that Brexit has had one new businesses and or subsidiary companies coming to the uk. Trading with non-EU markets has become much more free, because of less restricted regulations. Trading with countries like America and Australia will be much easier hence gaining a bigger reach and base for your business. Although the fall of the GBP is not something that seems to be a positive thing, this makes our products more appealing to buy by other countries in and out of the EU because the products and or goods are economical and low-cost.
Start your Business in the UK
Whether you’re setting up your first main business or a subsidiary company in the UK, this country is one of the best places to get a foothold for your business. Not only is the UK one of the powerhouses of the world and trades with the majority of the world’s countries, it is a robust and friendly environment for your business to thrive. The UK is one of the best places to find strong shareholders, partners or employees that all speak the language and have the experience you need to make sure your company’s name grows and expands across the UK and beyond. Concierge companies like The One World, will be able to help you make your first step into the world of business within the UK, giving you a greater chance to grow.