The decision to move a business to the UK is a huge step. Most business owners are aware that the UK has always been the hub for SMEs and startups. However, large organizations are also planning their move to British shores with the change in the market. The United Kingdom has always been business-friendly, with a high quality of skilled labour and workforce. Tech hubs, F&B, Retail, and Logistics are some of the newer niches that regularly move to the UK.
While many businesses prefer moving lock, stock, and barrel, many retaining their home bases and instead, expanding to the UK. If you feel that your business will flourish with this expansion, you should seek business assistance from immigration solicitors in Manchester. They can help with all the immigration-related issues, legal work, and documentation.
The UK has progressive policy-making, exciting business opportunities, and a well-established economy. These three aspects together tend to attract a lot of foreign investment. However, just because the UK has a marketplace conducive to doing business does not mean there will be no competition. Most companies entering the UK have stiff competition from existing companies as well as other international companies.
The best way forward is to be prepared and ready for a new business environment. UK laws and trade treaties allow for excellent business opportunities that should not be passed up. Let us look at how you can move your business to the UK.
International Business Prep:
Like we mentioned earlier, being prepped and ready for the apparent obstacles and hurdles is best. Whenever you consider moving or expanding the business, you must take into consideration all the costs involved. There are taxes, fees, new agreements, contracts, and registrations to be made. Apart from this, there are also costs related to finding a new office, recruiting a new team, utilities, deposit payments, and rent.
Irrespective of how small or large your office is, you should have a business plan ready for your go-to-market strategy and achieve new objectives and goals. Having an international plan and a business strategy will help keep track of things like the finances, timelines, fees, levies, insurances, recruitment policies, and any other associated costs and legalities associated with the move.
Due Diligence:
Due diligence is necessary when shifting from one country to another. Most businesses from Asia, North America, and Europe find the UK a very attractive option. It would be best if you made specific changes in the legal business structure of the business when entering the UK markets. Regulations, rules, protections, and many such should be carefully weighed and decided upon. Ignoring or disregarding these rules and regulations can cause a world of pain at a later date.
You should hire a local law solicitor from the UK to conduct due diligence on your behalf and to help head off any issues that may come your way. Since there are several legal entities in the UK, it is best to remain aware of Brexit’s changes and to ensure everything is in order.
Location Matters:
Most businesses want to take advantage of the hustle and bustle in a city like London. However, London is known to be extremely expensive. The choice of your location for your business (in the beginning) will make a massive difference in your budget. Depending on your infrastructure and technical needs, closeness and availability to clients, and employees, you should make a wise selection about the location of the business.
Commercial leasing policies, utilities, government and neighbourhood regulations all come into play. Competitive districts in the interiors of the UK and cities other than London are known to have a fabulously ready infrastructure. These offices are meant to be leased for the long term. Depending on the size and location of your team, you should consider the retention of your employees and distance or relocation for a few of them. By shifting out of London and selecting a commercial area in another city, you could end up saving thousands of pounds per year on rent and utilities.
Employee Regulations:
The UK is known to be highly employee-friendly. This means that there are a particular set of rules that have to be followed for all employees. The UK has a low tolerance policy for harassment in the workplace. It is also a staunch supporter of equal rights for men and women—representation in the workforce matters. Also, employment law, health and safety standards, human resource policies, and the protection of employees’ civil rights are mandatory.
Conclusion:
We live in a wonderful time for business. Of course, there will always be difficulties with financing and it’s never easy to begin a new company, but when it comes to having a business, we are blessed. We live in a time of digital revolution. We live in an age where we can communicate with people from the other side of the world at the touch of a button. We can command respect for our businesses based on what our company website looks like.
Because of the digital age, the world has shrunk to the size of a smartphone, where anything and everything in the world is a click away. It’s allowed people to spread out and emigrate to far-flung destinations that were previously off-limits. It’s also allowed us to choose where we open and base our companies. Businesses are now able to lay down roots in countries that were previously unattainable. So what are you waiting for, to move a business?
