The Effect Of External Forces On Entrepreneurs Of UK

While making a decision of making an investment in a country, there are several factors that entrepreneurs analyze, that may influence their businesses later on.  England is a well-stabled state when it comes to economy, law, and order, and at times it is considered to be a heaven for entrepreneurs for the reasons mentioned below:

The Effect Of External Forces On Entrepreneurs Of UK

Per Capita Income

The reason why an entrepreneur has to focus on per capita income of a country is to be certain that people would be able to afford the prices that they would offer. This can help them select what products to offer and revise their pricing strategies. The Gross Domestic Product per capita in the UK that was last recorded was 41602.98 USD in 2016, which is equivalent to 329 percent of the world’s average, and has increased immensely within the last few years which means that an average buyer in the UK is very strong.

Taxes

Perhaps the one negative point about investing in the UK is the huge amount of taxes that have been paid to the Government if you start a business there. But one good advantage for the foreign investors is that they have to pay the same amount of taxes as a UK citizen, this shows that UK government welcomes foreign investment and are ready to support them as much as possible.

Friendly Investment opportunities

There are several great opportunities for young entrepreneurs with bright and innovative ideas in the UK, as it is the land of opportunities. If a person has a good experience and a good business plan, investors are there to invest in his idea, especially in the hospitality industry. Investors are more than willing to invest in this particular industry if they find potential in the business idea, as they are aware of the fact that it’s a very powerful industry in England. The main investors are Banks.

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Competition

Undoubtedly competition is immensely high, as there already a lot of extraordinary brands out there trying to provide the best to the customers, but the market is huge, so even though the competition is fierce, good businesses are still very profitable in England. If the market is huge, and there are a huge amount of consumers out there, whom you can serve, competition then doesn’t play a negative role.

No Language Barrier

Being the international language, English is studied and spoken in most of the countries in the world, and it’s a language that is spoken in England as well, so one of the main reasons why entrepreneurs choose the UK for investments and to set up their businesses is because there are no language barriers. One can easily communicate with the suppliers, employees, customers and all others stakeholders. This makes it easy for the entrepreneurs to understand what the public really wants, what do they like and dislike, and understand their feedback in a much better way.

Political policies & Law and Order situation

Perhaps one of the main reasons why businessmen will be more than happy to invest in England is the political and law & order stability. The political system is very well established in the UK, there is not much variation in policies with a change of governments that investors have to worry about. All the policies that are made are investor friendly. The policies and the system that is followed is perhaps one of the best in the world. The UK is stating which promotes the rule of law, which is the main attraction for the investors. Law & Order situation is very stable in England, no terrorism issues or strikes that create hurdles for businesses. Investors are not afraid because they know their investment is safe, as the UK is a highly secure state and it’s a place where people live their lives without any fear.

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Author Bio

Henry Shafer is a teacher, businessman and a blogger living in Leeds, England. His articles are mostly based on the economics and entrepreneurship. His has completed his masters from a well-known business school in England and now works as a part-time teacher on Dissertation Writing Services UK.

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