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In a turbulent post-Brexit, post COVID economy, you might be having second thoughts about starting up a new business in the UK. While uncertainty isn’t a great environment for a new business, it doesn’t mean you should head to different shores.

The UK is one of the easiest places to set up and run a business, as well as one of the cheapest. The British government is focused on improving entrepreneurship. This means there are more funds available for younger entrepreneurs who may not be able to self-fund their own start up.

Aside from being easy set up and having a low rate of Corporation Tax, there are other reasons why the UK is still the best place to set up a company; Brexit or no Brexit.

The amount of talent available for hire

The UK has always been one of the most popular countries for students. The education system and universities attract a wide array of talent who look for work in the UK after they’ve completed their degree. The high number of international students coming to British universities gives businesses a larger pool of talent to hire from.

The government’s apprenticeship schemes are another way of finding the right person, especially if you’re on a start-up budget.

 

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Language and time zone

A huge advantage of being an entrepreneur in the UK is that it’s home to one of the most widely spoken languages in the world. This will give your business more opportunities in networking and give you more employees to hire from.

The British time zone is also advantageous for those wanting to run an international business. The British working day overlaps with many other countries. For example at 9am GMT in London, it is 5pm in Singapore and Hong Kong and 6pm in Tokyo. At 5pm in London it’s midday in New York and 9am in San Francisco.

If you tried this with any other country there wouldn’t be as many countries with the same crossover, which makes the UK a particularly favourable environment to entrepreneurs of international business. Even entrepreneurs need to sleep sometimes!

Flexibility

The UK has one of the most flexible labour markets, meaning that the labour market adjusts more quickly. That’s  good news for employers!

Read our guide to starting a business in the UK.

About The Author

Elizabeth Hughes

A content writer specialising in business, finance, software, and beyond. I'm a wordsmith with a penchant for puns and making complex subjects accessible. Learn more about Elizabeth.

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