What Resources Are Available for Expansion in the UK?
If you operate a company that is looking to take advantage of expansion opportunities in the United Kingdom, you no doubt recognise that your firm will face many challenges as it works to establish itself in a new and foreign market. You may be faced with everything from cultural differences to unfamiliar laws and regulations to marketing concerns. To successfully achieve your expansion goals, you will need to be able to address each of these challenges in an effective and timely manner. Fortunately, there is a whole host of resources available in the UK to help your company get its footing in the country.
The UK government offers many support services for companies that are looking to expand in the country. With London known as the digital capital of Europe, the UK recognises the importance of encouraging foreign companies to invest and grow here – especially in an increasingly competitive global marketplace. As such, the government has composed a number of resources to facilitate the process and provide as much information as possible. Below are a few of the many government resources that your company can use to ease its entry into this important market.
The government’s primary website is a must-read resource for any foreign company seeking to expand into the UK. On it, you will find critical information about business legislation, funding requirements, tax issues and other vital concerns that your company needs to know and address if you want your market entry to be successful.
While not exclusively a government-run support service, Tech.London does have the support of London’s local government. It was created through a partnership involving IBM, Gust and the Mayor of London, and provides vital resources for businesses in the tech sector. You can gain valuable insight and assistance from the website’s job boards, events schedule and other news and information helpful to new businesses looking to set up operations in London.
Department for International Trade
The Department for International Trade is another government agency that can help your company enjoy a smoother entry transaction. The role of the DIT is to assist local businesses to expand overseas while helping external companies expand their operations into the UK. The department is responsible for providing critical expertise to those firms and maintains a vast network of contacts and specialists who can facilitate growth in the UK.
International Business Programme
The Mayor’s International Business Programme is the brainchild of former Mayor of London Boris Johnson. The project was launched to assist high-growth London firms in their efforts to expand into overseas markets, with the goal of creating more and better jobs for the city’s citizens. For foreign companies that are looking to establish roots in the UK, the program offers a wide range of support services and focuses on promoting the UK, not just London, as the ideal location for start-ups.
Private Sector Resources
The government is not the only source for assistance. There are various private sector organisations that also offer critical support services, advice and assistance to overseas companies that want to invest in the UK. Many of these services are focused on specific industries, ensuring that your business can receive assistance from experts who possess the competence and experience you need for success.
The UK has been increasingly active in promoting and encouraging tech firms to adopt the country as their home. The UK has since become a leading centre for innovation and a preferred destination for many enterprising tech startups. Tech City is an organisation devoted to helping those tech firms to grow and achieve their goals.
Tech City provides programmes, events and research designed to facilitate growth in the UK’s important tech sector. It works to attract the best tech professionals from around the world and focuses on ensuring that those individuals have access to the skills needed to succeed in the industry. The organisation also concentrates on the challenges facing the industry, working with partner companies and other critical concerns that would otherwise threaten the industry’s growth and success.
London & Partners
London & Partners describes itself as the “Mayor of London’s official promotional agency” and has the hefty goal of promoting the capital city as a premier location for investment, employment, tourism and educational opportunities. Part of the mission involves efforts to attract trade from overseas, encouraging companies to establish a presence in London. The group works in collaboration with the Department for International Trade and has partnerships with the City of London and the Mayor’s office; as well as a host of business partners and other organisations.
London & Partners offers programmes and assistance to companies seeking to expand in the capital. It also works in partnership with the Mayor’s office to encourage overseas companies to invest in so-called regeneration and development projects across London.
The Sirius Programme
The Sirius Programme offers a support package designed to assist overseas entrepreneurs who have business ideas that they want to bring to the UK. It is a joint public-private-charitable endeavour that brings together private sector businesses, charities and the Department for International Trade. It’s a 12-month programme that offers help with visas, training, mentoring and even seed funding and office space.
It’s always difficult to expand into new markets, but that difficulty can be magnified when trying to establish roots in a different country. The UK government and private sector recognise those challenges and have responded with a concerted effort to make overseas investment in the UK as simple as possible. These resources and others can provide the guidance, direct assistance and ongoing support that your company will need to avoid any pitfalls that might otherwise threaten your expansion efforts. Before you finalise your expansion plans, take the time to find out about the specific resources that might simplify your entry into the UK market.