For any business, the prospect of expanding is an exciting time. It holds the potential to expose the products or services they deliver to a broader audience, and hopefully increase their customer base.
In turn, this will help them to convert more customers to their business as they work to improve their sales in the new area, which will lead to higher profits.
Within the UK, more often than not, there tends to be gaps in the market for businesses who offer for a vast range of services, which still do well in the UK market. In taking the risk and making the move, you can open your business up to numerous business opportunities, some you may not have known about previously. Additionally, your expansion to the UK may allow you to venture into other areas of your sector, offering services you had not considered before.
However the referendum that occurred in the summer of 2016, meant that the UK left the EU on the 31st January 2020. For many businesses across the UK and throughout the rest of Europe, this decision created a lot of uncertainty about the prospect of how they will operate going forward.
Despite Brexit, many business across the world are still considering the idea of expanding their thriving firm to the UK. One of the reasons firms are considering the expansion is due to the endless benefits that come with doing business in the UK.
For international groups looking to establish a UK branch of the business post-Brexit, here are just a selection of reasons why this could be the right move for your company.
Well Connected Globally
Most international business that expands to the UK, setup their UK branch in London. Being based in London can create the connections you will need to further the expand your business worldwide. The capital is home to excellent transport links to Asia and Europe, as well as provide your company with additional expansion opportunities.
Aside from being well connected, London is a thriving hub filled with a vast range of sectors. These include creative fields, finance, green energy, hospitality and even tech. Regardless of the sector that you operate within, even if it is a niche market, your business will be able to find a home in the city.
Although Brexit is a concern for some, British goods have become increasingly more competitive and sought-after overseas as a result, and promising export opportunities have risen. These developments are certainly tempting.
Resources Available To Support Growth
When searching for ways on how to expand your business to the UK, it might be worth considering seeking the support of a UK based business for advice on things such as the UK tax code. It can be challenging to navigate your way through it without, especially being an international group trying to set up a business.
For a UK group company expansion, seeking advice on how to expand your business in the UK could be a game-changer in how they operate. The expert advice provided by firms, such as Goodman Jones, will not only help to create a smoother transition process for your business as you expand into the UK, but they could also provide you with information that otherwise would not have been available.
Recruitment And Workforce Available
The UK has one of the largest workforces in the EU, which includes a vast pool of exceptionally skilled employees. Additionally, the UK is predicted to have a labour growth in the next 15 years. With flexible labour laws that can be adapted to help suit the needs of a company, the labour costs are also one of the most competitive across Western Europe
This is a benefit of low employer social security contributions. Combing the overall lower labour cost with more flexible laws than most other European countries, the UK is expected to thrive even without the EU’s talent pool.
The UK’s recruitment sector is thriving and British workers are generally well educated, and also have the capability to various management styles. The world-class pool of talent and employment laws is an attractive quality for any business, especially those looking to thrive in a new country,
Develop Talent
For some young people who have just finished secondary school, an apprenticeship is their preferred route to take. Aside from being a job where they earn a bit of money, they can also learn more about the industry whilst they work. During their apprenticeship, they undergo training and receive the qualifications required to become fully competent in their chosen occupation.
By offering an apprenticeship in your recently established UK branch, you will have the ability to grow talent that will flourish in not only your industry but also your business. Fortunately, there are countless apprenticeships available from across hundreds of occupations throughout all sectors of the economy.
There is support available to businesses who offer apprenticeships to young people. Since they are a developed policy, the UK government provides support to any employer for some of the assessment and training costs that are offering apprenticeships.
It Can Be Easy To Move
Thanks to the help of online resources available from the UK government, checking to see if you need a visa to operate in the UK is straightforward. The online visas and immigration tool available is a quick and simple way to work out if you, or if any of your talented team you want to help in the expansion need a visa to move to the UK.
Aside from being able to move relatively easily, expanding your business into the UK is also a relatively straightforward procedure. There is an exceptional amount of support available form the UK government, who can provide detailed information on how to set up the UK extension of your company. As previously mentioned, there are also numerous UK companies that are well-equipped in providing you with more detailed advice that is specific to your industry, as well as offer any guidance on moving your business to the UK.
Gaining Experience And Chance To Grow
Expanding your business to the UK will mean that you have gained experience of growing your business on an international scale. When the time comes to further expand your business once again, you will already be familiar with the process of expansion.
If you had no plans to further expand your firm, businesses in the UK tend to have higher visibility from American companies looking for merger and acquisition opportunities. This is because the UK is usually one of the first places they look for any opportunities that could potentially be available.
Open For Business
Previous companies that have expanded their firm to the UK have noted one of the most attractive benefits is the country’s open attitude towards a vast range of businesses, cultures and aspiring enterprises. Throughout the years, the UK has witnessed a diverse range of industries flourish since their expansion, including those in the construction, fintech, healthcare, manufacturing and also oil and gas industry.
The warm welcome you will receive, as well as the success of your products or services, so expanding to the UK might be the next chapter in your firm’s journey to global dominance.
