Great Britain is a tidbit for business people around the world. Its huge metropolis and clear legal regulations have made it a leader in significant manufacturers and traders of goods. Based on Dow Jones, it ranks in the top ten for ease of doing business and GDP per capita.
All international citizens can do business in Britain. Citizens of the European Union and Switzerland receive equal rights with local traders.
To set up a business in the UK, such as Leeds Bradford car hire, you need to meet a few simple criteria:
- Age (at least 16 years),
- The availability of financial resources,
- Business plan,
- No criminals.
Because of all the car hiring options, people are looking at the budget option—a successful and inexpensive start with a good profit.
Consider the following types of companies:
The owner manages, works for himself, and hires other employees. Responsible for liabilities with all their wealth. Determines own rate of taxation.
Limited liability company
Stocks. The value is limited to the money paid on purchasing the securities. Warranty. Dependent on the amount of the guarantee. Unlimited liability. Not limited by anything. Indefinite. Securities are offered for sale to the general public.
Limited liability. Two or more physical or legal persons participate. Taxes are paid, and are not personally liable for the company’s obligations. One general partner and at least one limited partner are required. Have different options.
Registering a business in the UK
- The procedure for registering a business in the UK is quite simple.
- Four steps are required:
- Submit an application to the registrar,
- Registration with the fiscal and customs authorities,
- Take out insurance policies for your employees if you have them,
- Purchase a license for certain types of business, if needed.
- The benefit of doing business in the UK is undeniable:
There are also rapid and inexpensive establishments, tax incentives, launching programs, a reduced accounting system, strong and multidisciplinary legal support, possibility of obtaining citizenship.
General information about UK companies
If your priority is to open a representative office abroad, the UK is the most beneficial solution. The benefits of the jurisdiction can be listed for a long time:
- Working in the UK opens up significant opportunities in the global market.
- There is a vast domestic market to start with.
- The territorial location attracts. Great Britain is a European state.
- Centuries-old traditions of entrepreneurship. For many years, English law steadily stands on the protection of business.
- A flexible tax system.
The prestige of the Kingdom is automatically reflected in the English company and its status among the international partners. A company in the UK – easy to operate, beneficial in terms of taxes.
The choice of the form of ownership determines the degree of responsibility of the participants, the order of accounting and reporting, and the relationship with the tax or the registration chamber. Let’s look at several basic legal structures that are most often chosen by businessmen from other countries to establish their own businesses in the UK.
Types of small businesses to open
Tourism – here, you can be an individual guide and post your suggestions for tourists along with a price tag on all popular resources and social networks.
- Translation agencies – ideal if you know what this is and have experience.
- Small confectionery stores are great for home confectioners. Such stores are in demand from locals and tourists.
- Cafes and restaurants – if you’re from another country, the author’s cuisine or dishes of your nationality will be ideal.
- Beauty salons – if you are educated in the business, the experience would be perfect. Everyone needs good artisans (manicurists, hairdressers, and so on).
- Hospitality business – here, you will have to think a little because you can start with a large apartment and rent out rooms, making it a hostel. And then expand the business.
- Car hire UK. It is also a profitable business option, incredibly cheap car hire.
As you can see, opening a business in the UK is very easy and profitable. So, if you decide to take this step, go ahead and do it.