(This article is a partner collaboration)
If you are considering embarking on an adventure as an international entrepreneur – then England is a great place to establish yourself. Here you can check out the reasons why.
England has always been a popular destination for exports for European companies. It is a huge market, and it paves the way for reaching the whole of the English-speaking market.
By having a presence in England, entry into the English market becomes so much more accessible to you. By establishing a company in the UK, you can also avoid the administrative burden of selling goods outside the EU.
Another important fact to bear in mind is that England is the financial centre of Europe. If you want funding and investors, England is one of the countries with the most opportunities because it is already a growth-generator and trading nation.
Many Scandinavians look to England
3 reasons why England is an important market:
1. There is access to a huge market of about 65 million people.
2. You get the best start for internationalisation of the company.
3. England is one of the most business-friendly countries in Europe and also a financial centre.
Several studies show that Scandinavian entrepreneurs do extremely well in the English market. It is easy to establish yourself, as there are fewer demands than in some other parts of Europe.
9 benefits of an English company
1. There is no minimum capital requirement
English companies can be established with a very low share capital of £1.00.
2. Minimal auditing obligation
British companies are significantly cheaper to maintain than most European companies. The first set of accounts are filed 21 months after the incorporation of the company.
3. Shareholder loans are permitted
4. Lower tax rate (corporation tax has fallen to 19%)
If you live in England, the tax is around 20%, depending on the size of the amount earned. However, depending on the structure, shares and assets can be placed in an English company instead. Then there is only 19% in tax on the profit. Something worth considering.
5. You can launch without VAT registration
There is no requirement for VAT registration until the annual turnover in UK reaches £85,000. If you sell outside the UK to an international market, you do not have to pay VAT.
6. Director services available
7. Better creditor protection
8. England provides large deductions on development costs
An advantage of establishing a head office of a franchise chain in the UK is that you can obtain large tax deductions on business development and product development.
9. England is part of The Commonwealth
The Commonwealth is an association of 54 countries with a combined populace of 2.5 billion people.
This article is a partner collaboration