Despite Brexit and the current pandemic, the UK has proven to be a resilient market for businesses, yielding the largest year-on-year Q3 2020 increase in limited companies incorporations at the Companies House since quarterly data began to be recorded in 2012.
Once again, this proves the continued attractiveness of the country for international entrepreneurs and the resilience of its economic system.
Overall, the UK is the country of choice of more than 4.6 million companies, with over 220 thousand launched between July and September 2020 alone.
While the are many factors behind this trend — some of which we have already covered here — below you can find some insightful facts about the attractiveness of the UK for entrepreneurs:
Easiest place to set-up a company in Europe: according to the World Bank, it takes less than half of the average time to start a business when compared to the EU average.
Least barriers to entrepreneurship: according to the OECD, the UK is one of the global top 3 countries based on the ease of trade and investments.
Manageable and attractive taxation system: the UK has a fairly simple taxation system when compared to other countries in the region, and a series of bilateral agreements facilitate the fiscal duties for international businesses.
Strong infrastructures: solid and efficient infrastructures are vital for every business, and the ongoing efforts to maintain and modernise the UK infrastructure system facilitates ventures.
Flexibility: while Brexit may have brought some short-term uncertainties, its long-term prospects should facilitate the country to quickly react and adapt to global challenges.
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If you want to learn more about how we can help launch your limited company in the UK, get in touch with The Entrepreneurs Private Office. We offer FREE initial consultations entirely dedicated at understanding your needs!