If you are bogged down with politics at the office, the best way to let off steam is to be your own boss. If this thought has not touched your mind, this short passage will definitely spark your interest. And believe it; setting up a company in the UK is far more feasible than other European countries.
You just need to decide what type of business interests you. Mostly, there are three types of businesses in the UK. They are sole trader, limited company, and partnership business. Whatever your choice is, there are several benefits waiting for you because positive changes have been implemented by the Government to encourage entrepreneurs to set up business in the UK.
Here are some of the benefits of setting up a company in the UK:
Flexible rules and quick financial aids are helping the country in economic growth. You can start your business in thirteen days whereas in other countries you will have to wait twice as many days to consolidate your business plans. These required days have been confirmed through a survey conducted by the World Bank.
Even the tax rules have been made lenient in the UK to attract setting up of SME and other businesses. The corporate tax rate has been reduced by 50% for the last thirty years. The current tax rate is the lowest in comparison with other industrialized countries. Even the top corporate companies in the UK are paying the lowest taxes compared to smaller businesses in G7 countries.
Another benefit of starting up a company in the UK is easy availability of labour. The duty hours, wage rate and other perks have made the country the best labour market. In addition, there is less paperwork and no constant or overnight changes to government rules and regulations. Moreover, the government takes extra care of those companies engaged in research and innovative activities. For this reason, the UK has developed a strong research base.
For industries to function smoothly in any country, the political environment has to be stable. There should not be frequent strikes or rifts among ruling and opposition parties. Tension between the political leaders of the countries can cause industries to shut down and hamper the economic growth. Since there is no such issue in the UK, industries can relax and work without any disturbances.
Purchasing and registration of a plot in the company's name is easy in this country. There are several agents who can show you a business place and handle all the legal formalities on your behalf. These agents work with solicitors for the documentation of the company.
Communication and use of universal language are important to the growth of business; the UK has managed both these vital aspects very elegantly. Be it any weather condition, you can easily make contact with anyone from your place within no time. Since English is the official and primary language here, understanding and expressing business deals are easy.
Now that you have read through these benefits, there is no doubt why you should not try to be your own boss and work independently by setting up a company.
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