Brexit and how to set up an office in London
If you have chosen to open a subsidiary office in London then you are going to be at the heart of the world’s leading financial centre. What happens in London affects international business and commerce; in fact, it influences the whole global economy. However, if it was straightforward to open a UK office in London, there would be far more international companies opening a business in the UK!
How does Brexit affect a London office?
We can’t go far without mentioning Brexit. The UK is currently engaged in what could be around two years worth of negotiations to exit the EU – and predictions on how this will pan out vary enormously. This has led to a note of caution in London – and some overseas businesses are making moves to relocate elsewhere in Europe to be more central to EU benefits and fluidity.
That’s not to say it’s a mass exodus. It does mean that with the right know-how, you can negotiate on office space and accommodation as the period of uncertainty is keeping prices at least stable. Keep in mind too, that changes in procedures and laws in the coming years will probably make it harder to recruit staff from outside of the UK. On the flip side, the investment in education and training for the indigenous workforce will get even stronger.
London is a cosmopolitan city and any cultural differences you face could be ironed out using the myriad of specific agencies and country-centric support organisations available. This is a city that has the unrivalled power to connect people. But it also has complex laws for new business start-ups in London, including anyone opening a satellite office in the UK.
Even leasing office space can be time-consuming and potentially risky without local assistance. For example, it’s not uncommon to be tied into a seven-year lease for London office space – which brings with it certain registration obligations.
As office space in London is expensive, one of the starting points is to cut your footprint to as narrow a margin as possible. Explore options for self-storage for files and materials, shared office space and virtual offices in London, for example.
If you want a successful business move to London or to open a subsidiary company in the UK’s heartland, then investing in insider knowledge and contacts will ensure a far smoother transition. Goodwille has help over 1,800 companies successfully expand their businesses in the UK. Contact us to make your move a positive one, and to get your London office running smoothly from day one.