What are the advantages of international expansion?

The benefits of expanding operations into overseas markets are not reserved only for large corporations. Small businesses can tap into them as well, as long as the necessary planning is in place and a patient approach is taken. Particular attention will need to be paid to cultural differences that could necessitate alterations to the ways you do business, but the benefits are there to be seized. Here are some of the key advantages of international expansion.

Untapped markets

Your company may offer services or products that are not available in some parts of the world, where demand is consequently very high. If you expand your operation into markets such as these, you can attract a hungry new customer base with minimum threat of immediate competition. You may even find the nation’s government sweetens the pot with incentives for expanding into their territory, because you’ll help boost their economy and create jobs.

Positive business climate

Other countries may offer superior economic conditions to your own. Recessions or restrictive policies from governments make it hard to turn a profit, and expansion into an area not affected by these things can offer a prosperous alternative. In essence, a new nation could offer a more ‘business-friendly’ economic climate, with advantages like lower taxes or less stringent environmental regulations.

Increased exposure

International expansion increases a business’s exposure, helping to create a global footprint. This can lead to greater brand recognition across the world, and potentially facilitate further expansion in the future. This can also help you gain more respect from customers and businesses in your domestic market as they’re more likely to view you as a major player in your industry.

Breathing new life into your business

It is not only a thriving business that can grow through international expansion; entering overseas markets can help rejuvenate a struggling enterprise. If you are operating in a saturated domestic market, or your market share is shrinking, you may find new outlets for your services or products in a different country. If you depend on certain resources or demands that are in short supply in your home country, you may be able to find exactly what you need overseas.

Goodwille have helped overseas businesses expand into the UK for over 20 years. We have experience helping business with everything from setting up a UK company and ensuring compliance with UK employment law, to help with introducing you to our expensive and international network and bridging any business culture gap. If you want to know more about how we can help your business expand internationally; to the UK or elsewhere, contact us at Goodwille and we’ll tell you more.

Avoid these three common tech startup mistakes

As you try to set up a UK company, you’re going to want to do everything you can to make sure you avoid falling into the same traps that so many other new businesses make. Statistics vary, but it’s a commonly known fact that starting a new business is a risky thing to do.

With that in mind, you want to make sure that you’re able to learn from the mistakes that in certain cases have cost others their businesses. These are three highly common, yet often fatal, mistakes that are made.

Failure to specialise

What exactly does your business do? Is it IT support, computer networking or video production? If that’s not a question you can answer quickly and concisely then you have some work to do. The marketplace is crowded and customer attention is precious, so you need to make sure you have a concise offer to attract potential clients.

It’s easy to fall into the trap of thinking that if you offer more general services you’ll appeal to more customers, but the truth is that if you want to avoid your business collapsing in on itself you need to offer a specialised service and be seen to know exactly what you’re doing. Find the one thing or the one area where your product or service outperforms all competition – that’s where there’s room and opportunity for you to succeed!

Financial mismanagement

From day one you’re going to need to keep a very close eye on your business financial records to ensure you’re always aware of how healthy your finances are. You don’t need to be an accountancy prodigy, but you do need to pay close attention.

If this isn’t something you can do, then it’s really worth the investment to outsource it to a specialist who will be able to provide you with accurate reports and advice, allowing you to make informed business decisions.

As an entrepreneur, you might we used to do things yourself and outsourcing may not appeal to you but the truth is that outsourcing all tasks that are not within your business’s core will free up more of your time to do what is valuable to the business and your customers.

Employee retention

Building a successful startup will take blood, sweat, tear, time and devotion and it’s nothing you can or want to do on your own. You need a team that work together, that share the same vision and dream of creating a successful business. The recruitment process to find your team can be a costly one, both in terms of time and resources, so when you make the decision to hire someone you need to ensure that you’re going to be able to make a return on the investment you make in them.

If you fail to provide opportunities for employee engagement and progression, you could end up with a “revolving door” policy, which will make finding the right people difficult. Make sure you offer your teammates a good remuneration package, room to grow and that you engage everyone in the success.

Goodwille work to support startup and business getting started in the UK with all non-core support functions you need to succeed on the UK market, so you can focus on your core business and creating value to your clients and employees. We can help you with corporate legal issues and ensuring legal compliance, everything finance-related, HR and people management including payroll and also a virtual office service for your UK base. Get in touch with us today for more information on how we can help your startup succeed.

Planning an overseas startup in the UK? Check out these tips!

The UK is a fantastic location for international startups and international expansion. Some of the reasons for this are:

– the rate of corporation tax in the UK is one of the lowest of all the G20 countries
– it’s quick and easy to register a new company in just 48 hours
– the labour force in the UK is the second largest in Europe
– the government provides support for entrepreneurs and startups

UK government support for entrepreneurs and startups

The Global Entrepreneur Programme run by the Department for International Trade can assist overseas entrepreneurs with launching startups and technology businesses in their early stages. Support is also available for startups looking to relocate their company to the UK.

All support is free of charge, and includes:

– advice and help developing business plans
– help with relocating to the UK
– investor introductions
– guidance on international growth
– mentoring from existing entrepreneurs
– assistance once the business is up and running

Qualifying for the Global Entrepreneur Programme

Applicants for the Global Entrepreneur Programme should be:

– existing overseas technology business or overseas entrepreneurs looking to start a business in the UK
– planning to set up the global headquarters of the business in the UK

Entrepreneurs can apply for a Tier 1 Entrepreneur Visa to launch their business in the UK and will need to be in receipt of a minimum funding level of £50,000 from approved organisations. The Department for International Trade provides information on a variety of Seed Competitions which can help provide support and endorsement for Tier 1 Visa entry, and you can find more information on this on their website.

Setting up a business in the UK

Starting up a new business or expanding an existing tech business in the UK is an exciting venture for all entrepreneurs. But there are a number of legal requirements and procedures that need to be followed when starting up a company in the UK. It’s particularly important that you research employment law and financial regulations carefully before launching your company.

Goodwille provides a wide range of services to UK startups and can help smooth the way for any overseas expansion or business startup. Get in touch with us today for more information on how we can help you start up in the UK.

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.

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!

LAUNCH IN LONDON | Speaker introduction: Mark Leaver – DIT

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 Mark Leaver, Creative Industries Specialist and Adviser for UK Department for International Trade, DIT. Get to know Mark a bit better and learn what he will bring to the discussion at Launch in London!

About Mark

Mark works with the Department for International Trade as a specialist adviser on the creative and digital media industries, assisting and advising international businesses to make investments and grow their presence in the UK and guiding DIT thinking on the creative technology landscape.

During Launch in London, Mark will speak about:

Starting off by introducing DIT and how they can help foreign businesses in the UK, Mark will talk about opportunity in the UK for inward investment; specific sector growth, focusing on the creative and technology sectors; Brexit (the inevitable topic!) and why despite Brexit, the UK is still very much open for business; and the accelerators and programmes available to help accelerate your business in the UK.

About Department for International Trade

Department for International Trade, DIT, is an international economic department of the UK government, operating to secure UK and global prosperity by promoting and financing international trade and investment, championing free trade. The responsibilities of the Department include bringing together policy, promotion and financial expertise to break down barriers to trade and investment and promoting British trade and investment across the world. This includes helping foreign businesses locate in the UK, as well as helping UK businesses expand overseas.

Website: www.gov.uk/government/organisations/department-for-international-trade

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!

LAUNCH IN LONDON | Speaker introduction: Joanna Dodd – Rochester PR

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 Dodd, Managing Director at Rochester PR Group. Get to know Joanna a bit better and learn what she will bring to the discussion during the event!

About Joanna

Joanna is Managing Director of Rochester PR Group, a marketing and PR consultancy which specialises in market entry.  Over the years Joanna has helped launch many companies and brands and has even PR’d a space mission.  She builds long-term relationships with clients (way longer than the industry norm) and is one of those well-connected, problem-solvers that clients respect.

During Launch in London, Joanna will speak about:

Whilst most businesses heave a sigh of relief when they land in the UK, for Rochester the work is just beginning.  Joanna will give advice on how to stand out from the crowd, why getting your content in shape is important and why you should start with your messaging for the UK market, answering the “why here and why now” questions.  Whilst not naming names, she will also give some examples of what people get wrong and remind you that you have only one shot to make that first impression – so make sure it’s the right one.

About Rochester PR

Whilst Rochester delivers all that you would expect from an agency in terms of its services for example media relations campaigns; social media and influencer campaigns; event management; content creation and marketing, it recognises that market entry clients are different. They require specialist advice and a flexible approach.  Everything Rochester does is about getting your brand to be better known and understood, helping deliver more business.

Website: www.rochesterprgroup.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!

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.