Business Opportunities in the UK

By: Jenny Simpson

The north east boasts much academic expertise, excellent transport links, a great quality of life, but before you consider relocating or looking for new business opportunities in the North East we give you some advice on how you can raise finance in the UK and employing people in the North East as well as some other top tips on doing business in the UK.

The import and export of goods and services is regulated in the UK by HM Revenue & Customs. Tax rates in the UK have been modified in recent years to make them increasingly supportive of business. Rates in such areas as corporation tax are designed to be competitive with those imposed by other EU countries. Information on general issues relating to income tax, VAT and corporation tax can be found at the HMRC website.

Raising Finance

The UK Government has a range of national funding schemes to support companies locating to this country, and to support enterprise development.

For example, new types of technology-focused venture capital funds have been created to enable high-potential, small companies to develop and grow, especially within the North East.

Regions like North East England have grants and other forms of financial assistance available to support investment by overseas companies. The funding can be tailored to specific needs such as research and development.

One NorthEast and its partners provide advice on the most appropriate funding. The Agency can bring together funding partners to provide packages in order to match individual business needs.

Local authorities in the UK – county councils, district councils or borough councils - are responsible for setting business and domestic charges in their areas. These vary from place to place.

Employing People

The labour market in the UK has become one of the most flexible in the EU. This has been one of the factors behind strong economic growth in recent years. Employers looking to recruit people from outside the EU have to apply for work permits before bringing them into the country.

A new, points-based system divides potential workers from countries outside the EU into different tiers: Highly-skilled workers such as scientists and entrepreneurs, Skilled workers with a job offer, ??Low-skilled workers filling labour market gaps, Students and temporary workers. ?The UK’s business community has long viewed overseas workers as helping to boost UK competitiveness making it an ideal place to?.

North East England is home to 588 overseas companies from 32 countries, employing over 27,000 people therefore making an ideal place for overseas investors looking for?? or ?

Business and Finance
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