Economic Scenario: UK has an estimated GDP of $ 3 trillion being the fifth-largest economy in the world. It’s a major international trading & financial power and second largest economy in the European Union. The UK economic growth immediately after the Brexit vote, was much more than expected particularly as regards consumer spending and services. The growth is likely to continue.
Below factors are the key drivers for establishing a business in UK:
The easiest place to establish and run a business is Europe: According to a World Bank study, it takes only 13 days to establish a business in the UK. The World Bank has ranked the UK first in Europe and sixth in the world to operate business
An internationally competitive tax environment for foreign investors: the UK has the lowest corporate tax, one of the lowest in the G7. The highest personal tax bond at 40 percent is also the lowest in the EU
Most Flexible market in Europe: According to a World Bank report, the UK stands at second place to employ workers
Least barriers to entrepreneurship: OECD has identified the UK as second in the world for Product Market Regulation. It also ranks second for the least barriers to entrepreneurship and third for the least barriers to trade investment in the world
World leader in innovation: the UK is known for its quality research base and ranks second on the list of most productive places for innovation.
Stable Political Environments: Transparency International rates the UK high on the transparency list. The UK is the country with the least corruption in the world. It achieves a higher rating in comparison to the US, Japan, Germany and France.
Stable Regulatory Environment: the UK follows a consultative approach for formulation of regulation which is beneficial for a business environment.
Easy property registration:Registering property in the UK is easier in comparison to Italy, Ireland, France and Germany.
International language for business: English being the operational language has advantages when doing business globally.
Top Talent: the UK is home to the top six universities in Europe. Two of the top six best schools in the UK figure in top three global universities.
Strong Communication Network: The UK has extensive broadband markets amongst the G7 countries and also the strongest ICT infrastructure in the world.
Strong transport links: The UK is known for its world class transport links. The government has taken steps to improve air facilities, rail network and rail freight infrastructure.
Leading Financial Center: London is the world's largest financial center