International entrepreneurs choosing the UK as their base
There are thousands of businesses currently operating in the UK with directors who were not born here, with a number of different nationalities being represented amongst them. With 16,272 coming from India and 9,903 from Pakistan, these are the areas which have seen most influx into the UK, but significant numbers have also come from Germany (7,770), China (7,439) and Nigeria (7,199).
This is in part due to the fact that the UK government have been encouraging overseas entrepreneurs to come here to establish their businesses, in particular with the introduction of the Entrepreneur Visa. This scheme was designed to make it easier for business people from other countries to come here, establish their companies and earn a fast track to full British Citizenship in return for their contribution to our economy. This has been a successful scheme in as much as it has attracted a significant number of the brightest minds from around the world to the UK.
The environment in this country is favourable for start-ups who can take advantage of our nation’s flexible legal framework and a tax system designed to support them in their efforts to get their businesses off the ground. Add to this the good ties with the EU, good local markets and plenty of highly skilled, experienced and talented individuals in the workforce who are able to help them achieve their goals, and it is easy to see the appeal of moving to this country.
There are plenty of foreign nationals who have moved to the UK and then started a business as well as those who have come here specifically to take advantage of the opportunities that are available to them in this country. Some notable examples of thriving companies that have been founded in the UK by entrepreneurs from elsewhere in the world include Cobra Beer, Made.com and e-bookers.com all of which have enjoyed significant success whilst also providing UK links to some of the strongest economies elsewhere in the world. Many entrepreneurs retain connections with their home countries and some of these are growing at much faster rates than the global average such as China, India and Nigeria.
If you are considering going it alone, whether you’re thinking of starting a new company yourself or working as a contractor, we have plenty of useful information to help you work out your financial position, including our take home pay calculator and useful information about the Flat Rate VAT Scheme.
For more information on how our experienced accountants could help you to establish yourself as a successful independent professional, give us a call today on 01442 275789 or email firstname.lastname@example.org.