The United Kingdom is open for business. Global business to be exact.
And there’s no better time for entrepreneurs or others looking for work to set their sights on the UK.
While there are new immigration laws in place, those with Entrepreneur and Exceptional Talent visas are only experiencing slight changes as there continues to be a push in the UK for new business and new workers.
And then there are the recent UK tax cuts for corporations as well.
UK tax cuts are expected to fall to 17 percent or less by April 1, 2020.
But Prime Minister Theresa May has made comments that suggest she is prepared to cut it much more quickly than had been anticipated. This in the wake of a series of disputes with business leaders.
In a speech to business leaders ahead of the Autumn Statement, Mrs. May made a commitment to giving Britain the lowest corporation tax of the world’s 20 biggest economies – potentially going lower than the 15 per cent rate promised by Donald Trump ahead of the US presidential election.
Mrs. May also hopes to improve relations with the business community by having the Government back away from plans to force businesses to put workers on company boards.
While Mrs. May wants the UK to have the lowest corporate tax rate in the G20, she is emphatic that it also be one that is “profoundly pro-innovation.”
“This is a
“That’s the kind of change people voted for: not just to leave the European Union, but to change the way our country works – and the people for whom it works – forever.
“And I am determined that we will deliver the change they need.”
All of this is creating the perfect climate for businesses to either start up or relocate to the UK. You can even speed up your visa and ILR application processing time with a fast track application request.
There’s something distinctly exotic about picking up and moving abroad. So if you’re motivated by the UK tax cuts and considering a move there, it’s helpful to follow a few tips on starting your business abroad:
1. Learn the language.
If you speak English as your native or second language, then you’ve already got this one covered. Yet another reason to set up shop in Britain.
But if you don’t, then you’ll want to start learning. You don’t need to have a mastery. Even having poor language skills is better than having none.
There are a number of ways you can learn English:
- Take classes
- Use apps and software
- Meet up with those who speak English fluently
And spend as much time as possible with English speakers to hone your skills.
2. Study the competition.
Before entering a new market – especially in a country abroad – every entrepreneur knows to research the competition.
Take it another step, though.
Study five companies that tried to enter that market but failed. Failure is a great way to learn what not to do. By learning from their failures, you’re destined to not repeat them.
3. Localize your idea, vision, and expectations.
As an entrepreneur, it’ll be essential to dive right into the local culture.
You’ll want to seek out a local mentor or investor who can help guide you to understand the culture and the local consumer. Doing this can help connect you to the right partners and know whom to trust.
Use LinkedIn as a resource to see if colleagues can connect you with others that are located in Britain. You can also join Meetup groups to reach out to local business networks or research online for websites that specialize in expats living Britain.
4. Do as the locals do.
Once you decide to take advantage of the UK tax cuts and set up business in Britain, it’s going to help to be genuinely interested in the country and its culture.
Once you’ve established yourself in the country, get out and participate in cultural experiences every day. Even if you’re a native English speaker, Britain is still a different country.
That means you’ll be working in a market with a customer base, customer preferences and behavior that are foreign to you so it’s important to take in as much as possible.
5. Build a new network.
Like it or not, your old network will become less actionable when you move abroad. That means you’ll need to build a new local one.
Take advantage of the fact that expats in a small community are fewer and farther in between, so it’s easier to connect with new people.
Consider emailing successful entrepreneurs in the area of Britain where you’re planning to relocate. It may result in important meetings and new network connections that can help you get started.
And who knows? You might even establish some long-lasting relationships from it.
The bottom line is that if you go into this British business venture with patience, persistence and a thick skin, you’ll benefit from more than just the UK tax cuts. You’ll have the experience of a lifetime.
Even if you’re feeling confident and ready to commit to immigration to Britain, you may still have a lot of questions. But don’t worry. Immigration advice is right at your fingertips.
Through the internet, you have easy access to immigration advice session services – either through email or by telephone.
What are the advantages of each immigration advice session service?
If you choose to attain a session through email, you’ll get the following:
- Response regardless of time, holiday season or weekend within 24 hours
- Ability to track your answers through your email conversation making instructions easier to reference
- Links and guidance provided through email
- No barriers with time-zones or languages
- All your answers in one place
If you’d prefer your immigration advice over the telephone, you will:
- Get to speak to a live person
- Clarify questions quicker