(This article was updated on 27/06/2020)
The UK has been proved as the number 1 destination for inbound investment in Europe. The UK is a business hub because of its geographical boundaries as well as in terms of Business Environment. It has an extensively diversified cluster of markets and sectors. It is inherently equipped with inherent opportunities in its open market. It holds a dynamic economy since time immemorial which becomes a boost for new investors and entrepreneurs. The UK empowers them to enter the domestic market and to captivate the location as a thriving channel across the globe.
Factors which influence the decision to do business in the UK
- Majorly companies target business migration to the UK apart from the rest of the provinces in Europe. Overseas Companies locate to the UK as they want to :
- Access new or existing customers.
- Develop new products.
- Identify new suppliers and partners
- Do more business in other countries across Europe.
Companies having a base in the UK can reach more than 500 million consumers across Europe. There is no need for companies to pay any duties while importing or exporting within the European Union (EU). The UK is also backed with free or preferential trade agreements with many non-EU countries.
It is also simpler to start a company in the UK than any other major European economy.
- The UK is a country and economy that is receptive towards the future. It is a flourishing and innovative country.
- This country has been a very strong industrial country – can we have some stats validating the ‘strength’
- Major Manufacturing Plants are booming in the UK. – can we have some stats for this too
- The UK is investing in 5G and Big Data in the current scenario. – any news on the pilot for 5G who is doing the pilot where is this being done, any government announcement or vision for 5G
- The skilled workforce, the high return on investment is the key drivers of business migration to the UK.
- Strong government support and assistance, fairness, equality, Skills, R&D, innovation, and infrastructure in the UK offers a conducive environment to the entrepreneurs.
- The UK ranks first for foreign direct investment in Europe.- any other stats establishing the prominence of UK
- The UK’s competitive advantage is clear and concrete for streamlining businesses.
The key influencing dynamics for conducting business in the UK:
The UK provides ample opportunities for entrepreneurs to accelerate their business ventures in a magnificent manner.
- The UK being the world’s fifth-largest economy provides leverage of its low corporation tax, leading in innovation and talent pool from the world’s top-notch universities.
- UK fosters payment of the lowest corporation tax in the G20 and procures tax relief of up to 230% on research and development costs.
- It harnesses access to a highly-skilled workforce engaging talent pool from the first four out of the world’s top 10 universities with a specific emphasis on research and development.
- It has been a highly commendable benchmark on the innovation frontier as it provides a lucrative opportunity for investors to reap the rewards of a country ranked top 5 on the Global Innovation Index by the United Nations.
- The UK is well-equipped with a highly skilled workforce which exhibits in-depth talent pool can be discovered reflecting top technical trained, plus graduates from some of the prominent universities in the world.
- UK caters business-friendly tax brackets that are lowest in the G20 and the UK legal structure and framework includes taxation rules which are simple to understand.
- The UK proves to be a source of financial incentives as it is easily accessible for a market of over 60 million people, assistance for research and development which acts as a tax relief becoming a major factor encouraging investment.
- UK Investment Support Directory is a big boon for new entrants in the business Markets. It is a cluster of companies that possess skills and experience in assisting overseas businesses to thrive or envisage in the UK.
- This Directory provides an easy user-friendly search to find the apt specialist or expert to focus on the investor’s customised business needs as far as dimensions of provinces or the specific UK regions, UK tax and employment law, visas and immigration or language fluency is concerned.
- UK Trade and Investment takes accountability for coordinating endeavours across government and affiliates to boost export and investment opportunities.
- It has contributed businesses in the UK with specialist support, advice and access to trade and investment events overseas.
- It has envisaged the scope of business by increasing the supply of inbound investment opportunities specifically through high-value campaigns
- It has elevated the overseas demand for UK exports through inward investment opportunities.
- It has proved to be a great campaign for export ventures.