The global economy is facing a downfall and the problem has been there since the great recession of 2007-08. However, now governments of almost all nations are trying hard so that they can bring in investors and entrepreneurs to their country. Lots of research and surveys is being done on the same and good investment of time and money is being done for positive results. Most of the countries are showing lots of interest in the various start-ups as they help in creating job opportunities. Along with this, the startups also come up with brilliant and innovative business ideas.
The British government has gauged the value of the start-ups and has been remodeling its budgets every year so that more and more start-ups can be funded and supported. As a result many people are choosing Britain as their business destination. There are also many more reasons and some of them are as follows:
British Taxation Deals Smartly with Start-ups
Taxation is a major issue with every start-up in any parts of the world. It is obvious that in the earlier years of business there is hardly any profit in a start-up. Britain’s leading tax authorities have developed a good understanding of the thing. Once a company starts making profits, then some regulations will be implemented, but they are not very harsh.
Legal Barriers for Starting a Company are being made Lucid
The seeds of beginning a start-up can be laid quite in advance. There are people who have been running start-ups when they were merely in their high schools. They might have founded the business single-handedly or might be in a start-up team. It has been seen with passing years, the barriers or hurdles of forming a company in United Kingdom are becoming lucid. This also includes the convenient tax payment system in the country. So entrepreneurs are showing interest of investment as the legal and other hassles of company formation are extremely low in UK.
Benefit of Starting a Company not Limited to British Citizens
This is an excellent initiative taken by the UK government for interest entrepreneurs from other countries. Any resident of European Economic Area had the permission to relocate to UK without any problem. But now, doors of UK have been open for entrepreneurs from all across the world and special visas are also being granted for the same. This enables people from any part of the world to come and start a company in Britain. However, the company needs to have £ 50,000 as UK-based investment. Many countries of the world are now following Britain’s footsteps and Chile has become a leader in the same.
Practical and Helpful Financial Schemes for the Start-ups
Whether you are an investor or the founder of a start-up company in UK, you can avail great benefits from the different kinds of financial schemes that are launched by the government of UK. With the help of these schemes, you will be able to get great tax benefits as well as excellent tax advice from professionals. Entrepreneurs’ relief of £ 10 million can be obtained if you want to sell off your company. Limits of the various schemes are being improved every year so that it attracts more budding business entrepreneurs to the country.
Popularity of Seedcamp and the Great Support Offered by the Government
Seedcamp is based in London, UK and is one of the best ones offering incubator programs to startups all across the globe. The main Seedcamp Week event takes place in London only. The government of UK has understood the power of startups and therefore is trying is best to support the same in any possible manner.
Evans is a business blogger and he has written several articles on the best place to start a new company in United Kingdom. He is currently associated with Ksapre.com that offers UK company formation services.