Top 20 reasons to do business in the UK
1) The easiest place to set up and run a business in Europe: The World Bank found that it takes 13 days to set up a business in UK, compared to the European average of 15 days. It ranks the UK first in Europe and fifth in the world to operate a business. Source: Doing Business 2010.
2) An Internationally Competitive tax environment for foreign investors: The top corporate rate is 28 per cent, the lowest in the G7 and below most of the UK’s core competitors. The UK has reduced its corporate tax rate from over 50% in the early 1980s, down to one of the lowest in the industrialised world. The UK’s highest personal tax band, at 40 per cent, is one of the most competitive in Western Europe. Source: Deloitte, 2009. Ernest & Young/ Forbes, 2009.
3) The best place in Europe for doing business: The World Bank’s Doing Business 2010 ranks the UK fifth in the world on “Ease of Doing Business” making the highest ranking country in Europe. Source: World Bank. Doing Business 2010.
4) The least number of barriers to entrepreneurship in the world: The OECD noted that the UK is fifth in the world for Product Market Regulation, has the least barriers to entrepreneurship in the world and has the third least barriers to trade and investment in the world. Source: OECD, 2008.
5) A leader in innovation: The European Innovation Scoreboard 2008 ranks the UK one of the innovation leaders, with innovation performance well above that of the EU average and all other countries. (Source: European Innovation Scoreboard, 2008).
6) One of the most stable political environments to do business: According to Transparency International, the UK is one of the most transparent (least corrupt) countries in the world. It has a higher rating than France, Belgium, USA and Japan.
7) Stable regulatory environment: The UK has a consultative approach to the formulation of regulation, so there are no surprises for business.
8) One of the easiest countries to register a property: To register a property, the UK is ranked above USA, Japan, France, Germany, Italy and Canada. Source: World Bank. Doing Business 2010
9) Speaking in the international language of business: operating in English gives firms in the UK a natural advantage when communicating globally.
10. Progressive communications network: The UK has the most extensive broadband market among the G7 countries and one of the strongest ICT infrastructures in the world. (Source: OECD Broadband Portal).
11) Home to Europe’s number one city for business for the 20th year running in 2009 by the European Cities Monitor: London is the world's leading financial services centre on a number of key performance indicators and was voted top in Europe.
12) Top talent: According to the Times Higher Education Supplement (THES), the UK has the top five universities in Europe and two of the top four globally. (Source: The Times Higher Education Supplement, 2009)
13) Springboard to Europe: The UK is the number one gateway to Europe, giving easy access to the 27 member states of the European Union, the world's largest single market, with its population of nearly 500 million.
14) The UK has claim to 23 Nobel prizes in the life sciences. (medicine and chemistry). UK researchers produce 16 research papers per US$1 million of research funding (compared with 9.2 papers in the U.S. and 3.6 in Japan). Source: ABPI 2008
15) Number one location for European headquarters: More overseas companies set up their European headquarters in the UK than anywhere else. (Source: European Investment Monitor)
16) Olympic opportunities: London will host the Olympic Games in 2012. Procurement started in 2007. Contracts are available for firms of all sizes and the total budget will run into billions.
17) Outstanding transport links: The UK offers world class transport links. Heathrow's new Terminal 5 is now open and working efficiently. Additional expansion is planned for international air ports at Stansted and London City; for sea container terminals at London Gateway and Felixstowe; and for the rail network, with investment in London Cross Rail and rail freight infrastructure.
18) High quality of living: UK residents enjoy a high standard of living, education and recreation. Personal taxes are low, publicly-funded health is free to all and there is a rich cultural heritage and abundance of leisure facilities.
19) Magnet for foreign investment: In 2009, the UK attracted 432 new investments and expansion of existing investments, the highest in Europe. (Source: European Investment Monitor, December 2009)
20) Productivity rapidly increasing: Historically, the UK had lower productivity than its main competitors, but this is changing and the UK has closed the gap with many countries and overtaken others.
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