Differences between German and British Work Culture

It’s not uncommon to hear Germans being highly regarded around the world for their supposed workplace and office efficiency. British stereotypes, however, remain based in caution and class structured hierarchies. Despite knowing that stereotypes never truly match up to the reality, it is true that German workers are more productive than the rest of their European neighbours, while still taking more sick days and holidays, especially in comparison to British workers.

A better work-life balance?

One of the reasons that this may be the case is supposedly due to Germany’s better understanding of a work-life balance. By truly finding that sweet spot between work and play, Germans can be far more productive within the office, while also unwinding and relaxing more efficiently.

Lots of references to this balance can be found in German vernacular. ‘Brückentage’, or ‘bridge days’, is a common German adage which means to take time off around bank holidays, where most workers will take an extra day or two off work in order to refuel, preparing themselves mentally for the work ahead. Another common German expression is ‘Erst die Arbeit, dann das Vergnügen!’, meaning ‘first work, then pleasure’. While there are similar phrases within English, they are not often heard, and even more uncommonly stuck to. As such, there seems to be an ingrained culture within Germany of working first and then focusing on relaxing, all while understanding that taking time to recharge will help you be more productive in the future.

Sickness

There is a trend within British office works to come to work, even when they are ill, and to downplay any sickness in front of management. While this does lead to more time in the office, it has serious negative effects on productivity and creates the risk of illnesses passing between colleagues. However, in Germany, there is a strong feeling that if you are sick you should stay at home – ‘Wenn man krank ist ist man krank’, translating as ‘when you are sick, you are sick’.

Not only does this mentality protect other office works, but it also allows the individual to rest and recover properly, meaning they are fit for work and more productive in a shorter space of time.

Understanding the differences between office and business cultures is crucial in whether an international expansion is successful or not. At Goodwille, we pride ourselves on helping new companies establish themselves in the UK market, offering advice and services to ensure that your business flourishes in the United Kingdom. For more information about how we can help you, get in touch with us today.

Expanding into the UK – all you need to know when starting a business in the UK

The UK has been ranked the best location for international businesses looking to expand internationally. Starting a business in the UK as a foreigner can be challenging, but with right set of tools and knowledge, it’s a good place to go for when looking for overseas business opportunities. The global environment, ease of doing business and strong market potential are of interest for overseas companies.

When an international company sets up in the UK, there are a number of registration requirements, regulations and obligations that need to be taken into account. This article highlights the most important things to consider when expanding your business into the UK.

Legal structures for market entry

When setting up in the UK, there are several legal structures to choose from. Depending on your type of business, where you are based and whether you have people on board or not, you may choose amongst many options available. The most common ones are listed below.

  • Limited liability company
  • Branch office
  • Limited liability partnership
  • Sole trader
  • Partnership

Limited liability companies (LTD) are the most common form of business entity in the UK. An LTD is a separate legal entity, owned by shareholders and managed by directors. The profits of a limited company are liable for corporation tax and they are distinct from any tax on the income of the persons who own or run the company. Setting up an LTD company in the UK is a well-recognised structure that is quick and cost-effective to complete. However, a UK law places a number of legal obligations and reporting requirements, which can be time-consuming and complicated.

Another usual method for foreign company is to establish a branch office. As opposed to an LTD, a branch office is not a legal entity from the head office company. However, setting up a UK branch requires Companies House registration and registration with HMRC for direct tax, VAT (Value Added Tax), PAYE (Pay-As-You-Earn) / NIC (National Insurance Contributions) as appropriate. Full responsibility for the operations, debts and liabilities of the UK branch lie on the overseas parent company.

Limited liability partnerships (LLPs) are increasingly used as a tax efficient vehicle for international companies setting up in the UK. An LLP can be formed by two or more people and need to be a lawful, commercial venture that is operating for profit. An LLP is flexible solution particularly when distributing capital and profits, and correctly structured won’t be subject to UK tax. However, a public disclosure is required and the profit can’t be retained in the same way as in LTDs.

Sole trader business is most commonly used when setting up a small business in the UK. It’s the simplest way for a person to trade alone as a self-employed individual without forming a company. Sole trader is easy to set-up and doesn’t require filing information publicly. However, the individual is personally liable for any debts the business might have.

In a partnership, you and your partner(s) personally share responsibility for the business.  Partners share the business’ profits and each partner pays tax on their share. A partner can be any ‘legal person’, such as a Limited Company. Partnerships are generally easy to form, manage and run, and partners are able to share the liabilities of the business. However, the financial risk might be high (even if the responsibility is shared) and disagreements between partners are possible. Also, partners must pay tax in the same way as sole traders by submitting a Self Assessment tax return each year.

Get in touch with Goodwille’s Legal Department to get more information on the most suitable legal structure for your business.

Set-up and registration

A newly incorporated company can be typically registered with the Companies House in 48 hours once all documents are completed. A UK company must register for corporation tax with HMRC, within three months of starting to trade. The paperwork for registration is not too extensive, however, certain statutory documents are required.

Bank account

In order to make any transactions, you’ll need to open a UK bank account for your business. Opening a bank account is a time-consuming process as banks need to go through complicated money laundering requirements to ensure your company is credible for a corporate bank account. Therefore, prepare to have time and patience for this stage, it can easily take up to three months or more to complete.

Check if your bank in the company’s home country has any operations in the UK. In some cases, this might speed up the process, as it may prove some creditworthiness for the business.

If the bank account opening process proves to be longer than excepted, Goodwille can provide a client account which can be used temporarily to make transactions while you wait for your bank account to be opened. Get in touch with our Finance Department to get more information.

Regulations

Starting a business in the UK as a foreigner is a journey full of new opportunities as well as responsibilities. The regulatory system in the UK is very open and transparent, making it easy to do business. In general, the UK aims to minimise bureaucracy and deregulate marketplaces in order to allow companies to develop and expand. However, there are very strict regulations in place that a company needs to be aware of (e.g. with regards to employment, industrial emissions, pollution monitoring and control, and waste disposal). Make sure you are aware of the regulations that directly or indirectly affect your business!

All businesses operating in the UK are subject to the UK law, and every company registered in the UK must have a registered address in the UK. For limited companies, financial transparency is required and annual audited reports must be submitted to the Registry of Britain (Companies House).

In order to keep the business legally running, a UK company must file annual financial statements with Companies House within nine months of the end of an accounting period. Also, an Annual Return must be filed with Companies House every 12 months (within 28 days of the anniversary of incorporation).

To get all the details in order and prepare for the regulatory areas, you should look for specialist advice. Contact Goodwille’s Corporate Legal Department today if you have any questions regarding regulations or your business’ obligations in the UK.

Tax

Foreign businesses looking at overseas business opportunities in the UK will find a competitive and business-friendly tax regime. Companies need to consider their exposure to UK taxation, including corporate income tax, value-added tax (VAT) and employment taxes. Companies that are incorporated in the UK, or foreign companies with central management and control in the UK, are subject to a tax prevailing rates on their worldwide income including ordinary income and capital gains.

Companies may become subject to UK taxation in a number of ways, such as

  • Establishing a formal taxable presence in the UK (via a subsidiary company or permanent establishment).
  • Registering a company for VAT in the UK. Companies must be registered for VAT if their taxable turnover for any 12 months period is £85,000 or over. The current standard VAT rate in the UK is 20%, which is the rate used by most of the businesses.
  • Suffering UK withholding tax at 20% on interest or a royalty income received from a UK resident company.

It’s important to remember that a foreign business operating in the UK doesn’t necessarily create a taxable presence in the UK. In order to be subject to the UK corporation income taxation, an overseas business needs to be trading in the UK through a permanent establishment.

Employment

When employing people in the UK, you need to be aware of several regulations within UK employment law. To start with, make sure your employees have the right to work in the UK (that they hold a valid UK/EU passport or work permit/visa) and see if they have a NIN (National Insurance Number) for the deduction of taxes. Also, remember to follow the guidelines for UK employment contracts and provide these within 8 weeks of starting the employment.

In addition, you need to register you employees into PAYE (Pay-As-You-Earn: social costs of employment including income tax and National Insurance that you as employer needs to pay to HMRC), and organise with company insurances as appropriate. Every employer in the UK must also enrol their employees into the workplace’s pension scheme within three months after the start of the employment.

In terms of the compensation, you must ensure the employees are paid at least according to the National Minimum Wage in the UK. As the recruitment market in the UK is highly competitive, also make sure your remuneration package is attractive enough and fits into the scope of the role.

If you are recruiting in the UK, you may want to turn to specialists who can help you with all the employer regulations and responsibilities you need to consider in the UK. Goodwille’s Human Resource Department deals with these issues daily and are happy to help if you have any questions along your recruitment process. When you are a small business setting up in the UK and not having the same resources than your larger competitors, you may want to invest in professional advice to make the people management processes more effective.

To conclude

UK’s highly potential market provides great opportunities for growing your business, however starting up a business in the UK is a challenging process full of regulations and liabilities. In order to get the set-up processes and ongoing compliance right, it’s good to turn to professionals who are able to provide you with advice  and all the necessary help you need to get your business operations up and running according to UK regulations.

If you are a foreign-owned business looking to expand into the UK, Goodwille can help you to get the inside track. We have been helping Nordic businesses to expand in the UK for 20 years, and are experienced in legal, finance, HR and payroll services in the UK. With a track record of supporting almost 2,000 businesses in the UK, we have extensive experience to help you grow your business. Get in touch with us today, if you are planning to expand to the UK or have any questions regarding the UK market.


Useful contacts for your business

When expanding your business to the UK, there are many organisations you may find useful.

Networking-wise, it’s good to get know your local chamber of commerce and see if their network is worth accessing. For example, Finnish-British Chamber of Commerce and Swedish Chamber of Commerce provide good opportunities for professional networking.

Also, when developing your strategy for the new market, Department of International Trade (DIT) provides free advisory and supports companies with their UK strategy and planning.

Goodwille are co-hosting event in Oslo during Oslo Innovation Week

Oslo has been ranked the #1 city in the world in terms of quality of life and is one of the most business friendly cities in the world. The Norwegians are known to be digitally advanced and early adopters of new technology – because of this, the start-up scene is booming and Norwegian Tech is hotter than ever.

As part of Oslo Innovation Week 2018, Goodwille together with our friends at Escalon Services are co-hosting the event The World is Ready for Norwegian Tech (but are you ready for the world). Join us on 25 September and learn what it takes to expand your businesses abroad!

About the event

The event targets Norwegian Tech businesses that (think they) are ready to leave koselig behind and expand their business to international markets! It will be an interactive seminar with speakers who are responsible for helping some of Norway’s fastest growing tech businesses tap in to & scale up in international markets, providing you with all the insights you need to take the big leap. The seminars will cover all aspects of what you need to think about, from  raising investment, raising your profile and how to make the right decisions when going from Oslo to the rest of the world.

The seminar is followed by a networking session where you will get the chance to mingle with the speakers, like-minded entrepreneurs, people and businesses that have already done the journey, as well as experts that can advice you on what to think about when taking your businesses onto the international arena.

EVENTS DETAILS
Date: Tuesday 25 September 2018
Time: 10am-12.30pm
Location: Oslo House of Innovation (OHOI), 4th floor, Skippergata 22, 0154 Sentrum, Oslo, Norway
Tickets: Grab your ticket HERE!

Are you interested in being actively involved in the event as sponsor or speaker, please get in touch with James Service at james.service@goodwille.com.

About Oslo Innovation Week

Oslo Innovation Week is an annual happening inviting people from all around the world to Norway’s capital city for conferences, talks, pitching, workshops and networking with like-minded, change-driven corporates, entrepreneurs, startups and organisations. 2018’s edition in the 13th Oslo Innovation Week around, this year held between 24-28 September. Oslo Innovation Week is owned by the City of Oslo and Innovation Norway, with Oslo Business Region as project manager. Check out the full programme for OIW 2018 on oiw.no/.

LAUNCH IN LONDON | Speaker introduction: Alexander Goodwille – Goodwille

London is a great place to be for tech businesses – it has access to great pool of talent, capital and investors, it boosts a large tech community and it’s perfectly located in the middle of time zones. With all these possibilities available – how can businesses and entrepreneurs utilise these to the best extent possible, and what else is needed to succeed?

On 14 June, Goodwille are hosting the event Launch in London as part of London Tech Week. The event targets startups, tech businesses and entrepreneurs with aspirations to launch in London, and will provide insights and expert advice on everything you need to succeed with your tech business in London.

One of the speakers at the event is our very own CEO Alexander Goodwille. If you read our blog on a regular basis, you might already be familiar with Alexander and what we do at Goodwille, but reading the introduction below we’re sure you’ll learn something new about Alexander, the Goodwille family business and why we are hosting Launch in London during London Tech Week!

During Launch in London, Alexander will speak about:

With over twenty years (twenty one to be exact!) experience helping companies expand in the UK, Goodwille have seen many businesses succeed, and also some businesses struggle with their UK operations. Alexander will share his best tips, and the pitfalls to avoid when starting up your business in London. He will provide common mistakes that he has seen over the years and give examples of unpleasant situations you might end up in if you haven’t done your homework!

About Goodwille and why we host Launch in London during London Tech Week 2018

Goodwille help businesses succeed with their UK operation. Founded by Swedish business woman Annika Åman-Goodwille, Goodwille take care of the administration and practical issues associated with running a business in the UK, so businesses can focus on clients and growing their business! Covering five integrated department, including Corporate Legal and Compliance, Finance, People Management and HR, Payroll, and Virtual Office and Meeting Rooms, we provide a solid foundation for you to grow your business.

At Goodwille, we think that startups and entrepreneurs should focus their efforts on value creation instead of admin and trying to learn the systems and requirements to run a UK business, and Tech is one of the most represented industries in our client-base. We want to provide startups, entrepreneurs and tech businesses with not only the administrative support they need to succeed in the UK, but also to give them valuable advice on how to interact with British clients and colleagues, how to make a name of yourself on London’s big tech scene, and also where and how to look for help to maximise your potential. We hope that Launch in London will provide just this to growing businesses, British or foreign, that wish to conquer London in 2018.

About Alexander

Alexander is the Computer Engineer that after 10 years in Investment Banking in March 2017 stepped up as CEO for the family business that his mother had founded 20 years earlier. He has a deep passion for all things tech and entrepreneurial, and he loves seeing people grow and succeed. Growing up in the UK with a Swedish mother and Scottish father and having seen the Goodwille business grow from the first client to nearly 2,000 companies helped to date, he has seen and experienced several culture clashes between cultures that are seemingly similar, but maybe more importantly – he has seen many foreign companies succeed in the UK.

LAUNCH IN LONDON – EVENTS DETAILS
Date: Thursday 14 June 2018
Time: 10am-1pm
Location: Level39, One Canada Square, Canary Wharf, London E14 5AB
Tickets: This event is fully booked, email hello@goodwille.com to be put on the waiting list

LAUNCH IN LONDON | Speaker introduction: Joanna Smit – Smit Training

London is a great place to be for tech businesses – it has access to great pool of talent, capital and investors, it boosts a large tech community and it’s perfectly located in the middle of time zones. With all these possibilities available – how can businesses and entrepreneurs utilise these to the best extent possible, and what else is needed to succeed?

On 14 June, Goodwille are hosting the event Launch in London as part of London Tech Week. The event targets startups, tech businesses and entrepreneurs with aspirations to launch in London, and will provide insights and expert advice on everything you need to succeed with your tech business in London.

One of the speakers at the event is Joanna Smit, Founder and Business Culture Consultant at Smit Training. Get to know Joanna a bit better and learn what she will bring to the discussion at Launch in London!

During Launch in London, Joanna will speak about:

The importance of (business) culture to succeed when entering a new market! Joanna will help you understand the British people and give insights on how to work effectively with them – both how to collaborate with the Brits in your team and how to sell to British clients. Her talk will give your new business the best chance of success as you will be equipped with all the intercultural skills you need to make your transition in to the UK market .

About Smit Training

Doing business in a new country brings exciting new opportunities but also certain challenges, such as overcoming language barriers or adapting to a different work culture. Smit Training trains multi-national organisations on how to work effectively with the Brits. Training courses include: leading British teams effectively, working with British colleagues or selling to British clients. Smit Training’s clients include senior managers and sales teams of multi-national organisations, international chambers of commerce, and international business schools.

About Joanna

The Founder of Smit Training, Joanna Smit, draws on nearly 10 years experience in international sales & investment banking with both the public and private sector across various countries, including the UK. Joanna has lived and worked in 6 countries and speaks several languages fluently.

Website: www.smit-training.com

LAUNCH IN LONDON – EVENTS DETAILS
Date: Thursday 14 June 2018
Time: 10am-1pm
Location: Level39, One Canada Square, Canary Wharf, London E14 5AB
Tickets: Grab your free ticket HERE!

The most important thing to get right when entering a new market

Expanding to the UK is an exciting but also challenging process. Amid the lengthy and complicated journey full of regulations and requirements, one thing stands above all – to find and recruit the right staff.

Recruitment requires an endless amount of hours and diligent work to find the ideal candidate, get them interested and sell the job to them. And even if you do this thoroughly, it doesn’t automatically mean you are on the top of the game. UK has a highly educated and skilled workforce, which means that breaking from the noise is demanding and competitive. You need to have a very attractive package to offer, in order to stand out from the market. This article gives you an overview of how to find the right staff and separate from the ‘war of talent’ in UK’s hiring environment.

Look for someone with commitment

A person who is committed and loyal to their career is an employee you need. Most of the skills can be taught, but motivation and commitment are something that develop inherently. You should always check the work backgrounds and job durations of the people you’re assessing for the role. If someone has been switching jobs frequently, it can be a possible red flag to consider.

Attract candidates with previous experience

The scope of experience is one of the key characteristics for being successful in the future role. It’s not necessarily finding someone with 100% success rate in the same role but going for someone who has a track record of positivity, innovativeness and learning when facing new challenges. Assessing outcomes and tracking previous results is important but hiring people who are ready to invest in themselves and the people around them is invaluable.

Get to know what your candidate has previously done and ask questions to understand more if their background fits into the role. The importance of background checks and referencing depend on the role and these are necessary especially if you are a regulated business. Often, having someone with experience in the UK market or an existing UK network can speed up the growth pace.

Find people who match with your company culture

Look for people who are a right fit to your company culture and who genuinely want to be part of it. Attracting the top talent in the UK’s competitive recruitment market is about branding your company well and making the candidates think of your brand over the other companies. Invest in transparency and open the doors to allow people to see what kind of environment you offer your employees. Manage and design your online presence and show people what are your company culture and day-to-day life like. This tends to attract not only talents but also potential customers and partners who are more and more interested in your employer brand.

Follow UK employment regulations

When recruiting staff in the UK, you need to make sure you follow all the employment regulations and provide with professionally conducted contracts that cover the required details. The contracts of the UK employees need to be compliant to the UK law and include all the required terms (employment conditions, rights, responsibilities and duties). Your UK employee needs a contract during or before the end of eighth week of employment.

It’s also important to ensure that your UK employees are eligible to work in the UK (having a UK/EU passport or work permit/visa) and are paid at least the National Minimum Wage (NMW).

Separate from the competition

To remain competitive, ensure that your remuneration package is sufficiently attractive and in line with the current market. It’s also important to maintain a continuous benchmarking to keep your recruitment process competitive and ensure that your offer stands out from the crowd. Get to know your UK competition and offer a compensation package that is suitable for the type of role and experience.

Make sure your recruitment process is up-to-date and you manage it professionally right from the beginning. Be detailed with your job description and show people clearly (and concisely!) what you are looking for. Try to keep within the time frame and meet the deadlines you have set. Processes that require more than just simply sending CV will prune candidates that are not genuinely interested in the job. However, too long and complicated selection process may do more harm than good.

Outsource your recruitment

The recruitment market in the UK is highly competitive and finding the best workers is challenging. Getting a specialist to help with your recruitment saves you time and money, irrespective of the size of your business. You can focus better on your core business operations and make the process more effective. Often, small companies and start-ups don’t have the same resources as their larger competitors may have. Recruiting firms can help you to find the talents and keep up with the competition.

If you are recruiting in the UK and wish to seek specialist advice, there are companies that can help you to get the right staff.

If you are an international business looking to recruit UK Sales Manager, you may consider using 360 Leaders. They are specialised in recruiting senior positions in leading tech businesses across Europe.

You may also want to turn to Propel London, which is a full-service staffing company specialising in commercial, technical, creative and operations talent. They have experience in providing recruitment services to global digital economy across the globe.

Other things to consider

  • When planning to enter new market, Department for International Trade (DIT) supports companies with their UK planning and strategy. Visit DIT’s website for more details.
  • When developing your marketing strategy for the new market, Rochester PR Agency helps businesses with their communications and PR strategies for the UK market. They provide senior strategic counsel and deliver event and social media campaigns to make your market entry more visible. Visit Rochester PR’s website for more information.

To conclude

Finding right people for your business in the UK is a lengthy and challenging process but with the right knowledge and tools, you can get the best talents to work for your company. Whether you recruit staff from the company’s home country or locally in the UK, you need to be aware of many regulations and obligations within the UK law. As recruitment and employment laws are different in every country, it’s good to turn to a UK recruitment specialist to make sure that all the required bits and pieces are taken into account.


Goodwille have been helping Nordic businesses to expand in the UK for 20 years and can support you with any recruitment questions you may have. With a track record of helping nearly 2,000 businesses in the UK, we have all the experience and tools needed. Get in touch with us today if you are planning to expand to the UK or have any questions regarding the UK market.

Do’s and Don’ts when starting up a business in the UK

Goodwille support foreign businesses with expert knowledge on how to run their UK operations. Launching a new business in the UK require an understanding of the market, the people and the business environment, and we have many partners in our network that offer complimentary services to us that can support your market entry. One of these partners are Rochester PR, an agency specialising in market entry PR. Earlier in 2018, Rochester PR released the book ‘Are you ready for business in the UK?’ which is a collection of advice, thoughts, comments and observations from firms operating in London on how to enjoy and make the most of setting up a business in the UK, and especially in London.

Having over 20 years of experience supporting and advising foreign businesses in the UK, Goodwille were asked to contribute to the book with our best advice on how to succeed on the UK market. These are our CEO Alexander Goodwille’s Do’s and Don’ts when starting up a business in the UK:

Do

  • Take specialist advice, don’t just wing it! Things can get difficult and expensive if you get it wrong.
  • Research your competition. It’s a competitive market.
  • Network! Tap into everywhere you can get help – nothing work better than a personal introduction.

Don’t

  • Don’t make assumptions! What works at home may not work in the UK.
  • Don’t rush. Plan and budget – but if it’s new technology you need to be first to market.
  • Don’t underestimate how important it is to get agreements right, especially employee and supplier contracts.

So… Are you ready for business in the UK? Goodwille has over 20 years experience helping foreign businesses establish in the UK. We can help making your transition into the UK market smooth and efficient and make sure you’re equipped with the advice you need to succeed with your business. Get in touch with us today to find out how we can support you.

Do you want a copy of the full book ‘Are you ready for business in the UK’?
Send an email to hello@goodwille.com and we’ll sort it!

Opportunities for startups in Birmingham

If you’re planning to start up your new business in the UK or transfer an existing overseas business to the UK, Birmingham could be an ideal location. Being the second biggest city in the UK, Birmingham recorded the highest number of UK startups in 2016 and is currently just behind London when it comes to startup numbers. The Start Up Loans Company, UK Government backed business named Birmingham  “the most entrepreneurial city” outside of London in 2017.

Advantages of starting up a business in Birmingham

Some of the benefits of opting for Birmingham as your choice for startup location include:

1. Birmingham has a great geographic location in the Midlands, central England, so it’s quick and easy to travel to from anywhere in the UK. It only takes around 90 minutes to travel from Birmingham to London by train, and the motorway network is superb for accessing any area of the UK in the shortest possible times. If the proposed HS2 rail developments go ahead, the train journey to London will be cut to just over 40 minutes.

2. The commercial rents in Birmingham are a lot lower than those in London and labour costs are a lot lower than the UK average. The average weekly earnings for full time employees in 2016 were around £497 per week.

3. There are four major universities in Birmingham, so businesses have access to a talented workforce. Furthermore, over 220,000 people within the working age population are qualified at NVQ level 4 or above.

4. The NEC, one of the largest conference and trade show facilities in the UK, is very close to Birmingham city centre. Every year, the NEC hosts a number of high profile business events.

5. Birmingham is home to a thriving tech startup zone, known as Silicon Tech Canal and the local enterprise zone is very supportive of startups. There are a wide range of grants, funds and initiatives available to Birmingham startups that make a commitment to providing employment in the city.

6. While the city’s tech scene is growing, the Midlands has traditionally been home to heavy industry and manufacturing businesses and the area remains the go-to region for these types of businesses. If you are running a business focused on heavy industry or manufacturing, the Midlands the natural area to establish in due to its industry clusters and the infrastructure.

If you need any advice on which UK city that’s most suitable for your business, or anything else related to starting up a business in the UK, Goodwille can help. We have helped nearly 2,000 businesses with their UK operations and can provide you with all the advice and support you need to make sure your business can grow and flourish in the UK. With offices in Midlands and London, we can offer you location-based and industry-specific expertise. Get in touch with us today to learn about how we can ensure the success of your business.

Can London tech businesses boost economic growth in a post-Brexit UK?

Brexit continues to occupy much of the space in the British and international media, with debate ongoing as to what the UK’s withdrawal from the EU will mean for business.

Recent government impact studies have shown that as much as 8% could be chipped off Britain’s GDP if the UK leaves the EU with no deal in place. Five percent of GDP will apparently go missing if they conclude a free trade agreement with the EU, according to the leaked reports published by BuzzFeed.

Even if Britain stays in the European Economic Area after leaving the EU, the damage will still be around 2% of GDP, according to the leaked impact assessments. Those figures suggest that some serious innovation will be required by businesses to keep the British economy on track and moving in a positive direction.

So what can be done? Well, tech startups in London could be a big part of the answer. If anyone is wanting to set up a UK company of this type, London is a good city to choose. There are a number of reasons for this.

Tellingly, London has a youthful, dynamic and diverse population, that is also very large. A massive chunk of the city’s population is classed as being millennials, a demographic which is naturally drawn to technology companies.

An indicator of the opportunities available to companies who set up in this part of the UK is that in 2015, London-based start-ups created 20,000 new jobs. They also managed to raise £1.3 billion. Now, in 2017, there is also a massive availability of investment platforms and accelerators, which can help a new business in London grow. These include TechStars, Crowdcube and Shell Livewire.

If you are looking to set up a new company in the UK, or diversify some of your operations by expanding your current business from overseas into the UK, then London is a good place to look. This is especially true for tech companies. There is a ready supply of workers and customers in one of the world’s most international cities. Brexit may well be on its way, and casting a shadow over the UK economy, but the opportunities to thrive in a city like London are still there to be grasped.

With years of experience helping foreign tech startups establish in the UK, Goodwille can help you with everything you need to succeed on the UK market.
Get in touch with us today if you need any advice or help with your company expansion.


Are you worried about what impact Brexit might have on your future possibilities to do business? We have consolidated everything you need to know about Brexit on our Brexit Tracker. The Tracker is updated as discussions go along, so it’s always up to date with the most recent progress of the Brexit negotiations. You find the Brexit Tracker on goodwille.com/brexit.

Launch in London – London Tech Week 2018

London Tech Week is getting closer, and so is our event Launch in London! We have a great outline of speakers, lots of interesting people signed up and a superb location boiling of creativity and entrepreneurship so we are certain that this will be one of the highlights of London Tech Week 2018!

There are still some free tickets left, but since capacity is limited we advise you to grab yours as soon as possible! Get your tickets through this link, just click the purple ‘Register’ button on top of the page, type in your details and you’re good to go!

ABOUT LAUNCH IN LONDON

Join us on 14 June for Launch in London – London Tech Week’s hottest event for any business establishing in the UK!

Hosted by Goodwille at Level39, one of the world’s most well renowned and connected tech hubs, Launch in London will provide you with everything you need to succeed with your business in London. Get inside tips on the Do’s and Don’ts when starting up in the UK, how to navigate Brexit, the British business culture and how to grow your network with the right people, all while overlooking London’s skyline.

This is THE event for startups, entrepreneurs and businesses looking to establish in London, as well as for mentors and advisors helping tech businesses succeed on London’s tech scene.

SPEAKERS
Alexander Goodwille, CEO of Goodwille will share the best tips, and the pitfalls to avoid when starting up in the UK.

Mark Leaver, Creative Industries Specialist of DIT – Department for International Trade will discuss why despite Brexit, the UK is still very much open for business and why you should start your business in London during 2018.

Joanna Dodd, Director of Rochester PR will share helpful insights on marketing, PR & how to get connected with the right people in the UK.

Joanna Smit, Owner of SMIT Training will help you understand the British people and culture and provide you with the intercultural skills you need to make your transition in to the UK market.

The seminars will be followed by a Q&A session, drinks, canapes & networking (plus opportunities for panoramic photographs of London!).

EVENTS DETAILS
Date: Thursday 14 June 2018
Time: 10am-1pm
Location: Level39, One Canada Square, Canary Wharf, London E14 5AB
Free entry

REGISTER FOR THE EVENT HERE


If you have any questions about the event, get in touch with our Marketing Manager James Service on james.service@goodwille.com or 020 7795 8100.