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The benefits of launching your business in the UK

The benefits of launching your business in the UK

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Are you thinking of setting up a UK limited company? Whether you’re an entrepreneur looking to launch your big idea or a foreign national wanting to expand your reach, establishing a UK business will give you access to the second largest start-up community in the world. And that’s far from the only benefit. At GoSolo, we can help you with everything you need to get up and running, opening the door to countless opportunities.

Grants and financial incentives

In 2022 the UK regularly tops lists of the best countries to launch a new business - and it’s easy to see why. Once you register your company, you’ll be eligible for a whole range of grants and financial incentives designed to help you get things off the ground, including:

  • Government grants
  • Small business grants from independent bodies
  • Coronavirus support packages
  • Apprenticeship grants
  • Broadband installation grants
  • Air quality grant schemes
  • Training grants

Tax incentives

If you register your business in the UK, you’ll be eligible to pay corporation tax on your income and capital profits. But for small businesses, there are various schemes and incentives available to ease the blow - giving your company the room it needs to grow.

The good news is that the UK offers some of the most competitive tax rates in Europe, with research and development relief of up to 230% for companies investing in UK-based projects. On top of that, there are currently four venture capital schemes which make the country an attractive proposition for investors, including:

  • Enterprise Investment Scheme
  • Seed Enterprise Investment Scheme
  • Social Investment Tax Relief
  • Venture Capital Trust

With so many different options, though, you might think that you need an accountant or legal specialist to talk you through the process. But all you need to get started is a UK business account and a company registered in the UK — both things that you can achieve in minutes thanks to GoSolo. And if you need any further help, we can connect you with one of our partner accountancy firms.

Community

Thanks to excellent financial incentives and a healthy investment ecosystem, the UK is one of the best places in the world to launch your own business. And as a result, a thriving community of start-ups and entrepreneurs has emerged in London, as well as other cities such as Edinburgh, Bristol and Manchester.

By basing your company in the UK, you’ll have access to a wide range of events, education programs and networking opportunities, all designed to help you build your business from the ground up. And when it comes to taking on staff, you’ll be able to take your pick from an unbeatable pool of talent, all ready to take on the next challenge.

Legitimacy

If you’re a foreign national looking to expand into the British and international market, opening a UK bank account and registering as a UK company could be a fantastic move. With these in place, you’ll find it much easier to operate in the region, with simplified transactions, less fees, and a more streamlined accounting process.

Depending on where you’re currently resident, you might also be able to avoid local tax hikes and high business rates by setting yourself up in the UK. But even though that might sound complicated, you don’t always need to fork out thousands for expert guidance. If you want to find out more about establishing your business in the UK, make GoSolo your first point of call.

 

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By GoSolo Better Business Account