Multinational companies choose to start doing business in the UK for many reasons. They gain access to affluent customers, have the opportunity to reach a bigger market and launch their enterprise across Europe and the United States of America. Did you know that companies based in the UK can reach more than 500 million consumers in Europe alone? Indeed, a more extensive and inviting marketplace has tremendous profit-making potential.
In this article, Western Partners will point out the benefits of moving your business to the UK or starting a new enterprise.
Ease of Doing Business in the UK
According to the World Bank, the UK stand tall among the highest-ranking global countries in terms of the ease of doing business. Opportunities from advanced manufacturing to digital technology actively invite critical players who will quickly negotiate the essential red tape.
With the assistance and support of Western Partners, you will comfortably adapt to the UK’s new surroundings. Our experienced team will assist each focused entrepreneur in meeting the UK compliance requirements.
Manageable Tax System
Often, one of the most challenges to global expansion is navigating the complications of a new tax system. The UK’s taxation regulations are comparatively simple compared to other foreign markets.
Also, the UK has double taxation agreements with other countries. So, as a result, most UK-based companies will not pay Corporation Tax on foreign dividends. The advantageous 2020 Value Added Tax (VAT) of 20% covers most goods and services supplied in the UK – currently set at 20% – is an additional financial benefit to companies.
Access to Skilled Employees
The UK has a sizeable pool of skilled employees. For example, the UK has a workforce of over 30 million people – the second-largest employee contingent in Europe. Furthermore, the UK is also one of the only European countries expected to have an appreciating growth of labour from 2020 to 2035.
In addition to having many qualified workers, the UK has a flexible market with regulations designed to protect employees and employers.
Furthermore, labour costs in the UK are the most competitive in Western Europe, considering the lower employer National Insurance contributions. The UK’s overall cost of labour is lower than France, Ireland, Netherlands, and Germany.
Strong Infrastructure
A robust infrastructure is essential to the overall growth of a business in any country, and the UK is no exception. Britain’s ongoing, sustainable focus on infrastructure improvements in energy, transportation, waste management, and telecommunications continue to provide huge employment opportunities.
Lower Manageable Regulations
Post-Brexit, UK can establish its tax, finance, and legal regulations. Agreements can vary on a country by country basis. For example, an arrangement with Sweden may differ from Germany. Thus, the UK’s competitive edge provides growth opportunities.
Increased Flexibility
Post-Brexit, the UK can more easily adjust to global events and market shifts. The government can adjust VAT and taxes to encourage growth and investment. Undoubtedly, the sovereignty of British decisions plays to the advantage of entrepreneurs thinking of relocating to Britain.
Grow with Western Partners
Western Partners can support you with its bespoke relocation package. So, whether you are committed to starting your new business or expanding your existing business, we will be at your side. If you are ready to make the UK your next destination and would like to discuss your options, you can contact us. Let us make this happen!
This document has been drafted and provided by Western Partners Ltd. If you would like to get your free assessment and discuss your situation, please email us at contact@westernpartners.co.uk