The UK is the sixth-largest economy in the world with a young and vibrant workforce going into jobs every year after graduating from Ivy League colleges of the country. The business environment is equally conducive, and this is the reason why the UK is home to some of the renowned start-ups of the world.
Entrepreneurs and even multi-national companies from all parts of the world, let alone the UK want to start a business in this country. There are plethoras of other reasons behind that which are mentioned in this blog.
To start a new business or raise capital for an established business, there are direct lenders present online offering 100% guaranteed loans. You can convince the lender with your good credit score or the presence of the guarantor. If everything is at the right side, the lender does not hesitate to offer affordable loan deals.
There is an instant decision given on these loans. Thus, the loan amount is credited in your bank account minutes after it gets approved.
Let’s now look at some of the key benefits the UK has to offer to start-ups and businesses of other countries planning to start their operations in the UK. Here it goes:
- Ease of Doing Business
This is one of the key considerations for any business before entering new geography, and this is also one of the key attractions for a business to operate in the UK. According to the Ease of Doing Business report published every year by the World Bank, the UK stood at the 8th position out of the 190 countries that participated. Be it a restriction to start a new business or permits needed from several authorities. Everything is very streamlined in the UK, which is enough to reckon it as the perfect hub for doing business.
The regulations and paperwork are minimal here, be it any industry from manufacturing to banking or IT. Besides, there are agencies as well to help a new business meet the compliance norms of the land.
- Friendly & Less Complex Taxation System
Another aspect is of taxation, which involves knowing about the corporate tax structure and the system before entering new territory. In the UK, the corporate tax rate is close to 19% and is thus, one of the lowest when compared to other developing and developed economies of the world.
Also, the UK has signed many double taxation avoidance agreements in the past with other nations for fair trade. It means the companies in the UK will not have to pay any tax on dividends from foreign entities and sources.
You can hire a local taxation company to deal with all tax-related work by applying for cash loans to your door from direct lenders if you are short of money.
- Skilled Workforce
Your business will only be successful if you have the right people working for you. This is another advantage of doing business in the UK as this country is full of skilled professionals in every domain from technology to management.
This has become practical with the presence of multiple world-class universities located in this country. The UK has a vibrant workforce of over 30 million people, the second-largest in Europe and also the labour costs in the UK are quite competitive when compared to its neighbours in Europe.
The youth here is talented and highly-skilled, technology start-ups here are a testimony to this proposition. These technology start-ups by young entrepreneurs in life sciences, lending, and manufacturing have proven their mettle on a global level.
- Robust Business Infrastructure
For a business to flourish, there has to be a robust infrastructure in place, be it in any country. This infrastructure is needed for the business to grow, for instance: If there is no infrastructure for electric vehicles from charging stations to subsidies for manufacturers, how can we witness the reality of electric vehicle running on roads?
Fortunately, the UK identified infrastructure as a necessary level to pull big businesses and investments. This is the reason why the UK Government has been increasingly spending on infrastructure in the likes of deeper penetration of telecommunications, transportation, power etc.
Sustainable transformation is happening, which is an added advantage for businesses.
- Fewer Regulations
There are comparatively lesser regulations in the UK, and most of them can be managed easily. In addition, now though Britain chose to exit the European Union (EU) after Brexit, they no longer need to comply with the EU regulations.
The UK can now have their own regulations which are a big driving force for businesses to start operating here. They will now have to formulate and sign new trade agreements with European partners that are expected to breed competition.
This healthy competition is ideal for the growth of businesses operating in that region.
- Government Support
Every business needs money initially to set up or to start operations in a new country. Start-ups usually are short of money, and they are not entertained by established commercial banks citing lack of financial history of these start-ups.
Fortunately, in the UK, the Government runs several funding programs for innovative start-ups working in social sectors and sectors related to the growth of mankind.
This means if you start your business from the UK, you would not have to dilute your ownership to get funding from venture capital or private equity investors.
- Diverse Population
People from many countries live in the UK, and multiculturism is easily evident here with people from many ethnicities living in one country. As a business, you can benefit from this in the form of hiring a diverse workforce to cater to all kind of customers.
Also, as a seller of products and services, you are serving people of different religion and cultures allowing you to sell more and get more business from their relatives in other countries via word of mouth marketing.
You have to do initial marketing whose expense can be funded by 100% guaranteed loans taken from a direct lender.
