The Top 4 Reasons to Run Your Business in London
Why choose London as the best place to run your business? First, it is one of the most populated city globally, therefore offering a favorable environment for new businesses to thrive. Secondly, it is a business hub that hosts an array of companies and banks such as Barclays and Citibank. The sheer availability of top-ranking financial institutions makes it easy to finance your business. Transportation is relatively quick, meaning you won’t get late to business meetings or client meetups. London also has a diverse night life – you can run your business 24/7. If you’re ever in need of an office or space to run your business, coworking space London will certainly sort you out.
These are the four reasons to run your business in London:
- Availability of a good infrastructure
Infrastructure plays a major role in business growth. London has ongoing projects aimed at improving the various infrastructure that include energy, management of waste, telecommunication and transportation. These improvements ensure that running your business is much easier. For example, the improvement of railroad increases the quantity of shipped goods, thus guaranteeing easier access for the business. Waste management, on the other hand, will result in a clean, conducive business environment.
- Convenient system of tax
Having a complicated tax system is a huge limiting factor when it comes to global business expansion. In London, the tax system is actually simpler and more convenient when compared to other places. This is because the tax rates are at 20%. In addition, there are beneficial treaties made with foreign countries. These offer huge advantages to companies based in London because there is no payment of tax on foreign dividends. Value Added Tax is paid normally for goods and services. This can offer tremendous perks to businesses operating in the region. Such a manageable system of tax usually helps in business growth.
- Skilled employees in the region
Most of the employees found in London are highly skilled. It is crucial to any upcoming business to enhance work efficiency – workers can do the job without compromising on quality. Furthermore, it has an overly flexible market with set rules to protect employees. This ensures that the quality of life of employees is dramatically improved. Also, the cost of labor is quite low compared to other places. This benefits the employer because they get contribute low in social security. In order to be legally established, it’s important to adhere to the existing business code. Working directly with a hiring agency will certainly play a huge role, allowing you to hire the cream of the crop.
- Ease of doing business
As reported by the World Bank, there’s some added comfort and convenience of doing business in London compared to other regions around the globe. Unlike other countries, there are minimum restrictions in London. Your business will quickly adapt to the new environment as you gradually learn what is required for your brand to grow internationally. You can easily get a visa that allows people from all over the world to relocate to London and start a business. This encourages immigrants to establish their businesses successfully.
If there’s one location you should think of setting base when venturing into business, that place is London.