Benefits of Starting your Own Company in UK.
Starting a new venture or a new business can make a person stressed and raise questions like how to start and where to start. With such doubts in their mind, they take a step back. But when it comes to starting a company in the UK, it isn’t that difficult.
Being one of the Largest Economies of the World, UK is the 6th Richest Country in the world with regards to it’s GDP. With an extensive legal structure, having stability in the economic growth and diversity in the consumer market, UK is the perfect place for a budding entrepreneur to start their business.
There are ways which will help any person wanting to start a company in the UK.
Following are the Benefits of Starting your Company in UK
Being a resident of another country, there are a lot of advantages when they wish to start a Company in UK.
1. Easy Access to the European Markets:
Starting your own company in UK gives you ample amount of opportunities to grow your company. Having a company in the UK will give you free access to the European Market. Being one of the largest markets in the world, European Markets will give you the right amount of sales which will help your company to grow faster and better. Also, UK businesses have a good export rate which help you get whatever you wish for.
2. A Workforce with Skills:
In a country like UK, there is a huge diversity of people living there who have the right amount of skills to help you grow your company in no time. There is a large proportion of people who are skilled in their fields and your company will get a direct access to them. Also, as UK has one of the best Universities in the world, you will also have an access to highly educated people to be a part of your workforce.
3. Taxes are Low:
The word ‘tax’ is always a matter when addressed, grabs everyone’s attention. But when it comes to tax rates, they are quite favourable if you wish to start a company in the UK. The tax rate for a company is 20% which lower compared to the other countries in Europe. And there are also specific sectors like research and development & environmental protection in which if you start a company, you will be getting availability of tax reliefs and exemptions. This attracts people as they will have minimum tax liability.
4. Increase in Consumer Credibility:
Once your company gets registered in the UK, this will build the trust among the consumers as they won’t be comfortable putting their money in a company they don’t know about. This will also increase the credibility of consumers once they feel that your company is totally legit and trustworthy for them to become loyal towards your company.
5. Getting Grants and Financial Incentives:
If you setup a proper company in the UK, it would be the best choice as post registration, your company becomes eligible for various grants and financial incentives which will help your company to settle in properly. These include
a) Government Grants
b) Independent bodies give small business grants
c) Coronavirus support packages
d) Apprenticeship grants
e) Broadband installation grants
f) Air quality grant schemes
g) Training grants
Conclusion:
In Conclusion, starting your own company in a country like the UK will be very profitable and will help you grow your company not only domestically but also globally.
