Five Compelling Reasons Your Canadian Business Should Open an Office in the UK

Posted by Techvibes NewsDesk

With the London Olympic fever currently in full swing there is a lot of hype surrounding the UK market.

Thriving tech hubs in Tech City and Cambridge, an internationally minded community, exciting business incentives, and its position as a springboard to Europe have rapidly grown the UK to become Europe’s tech hub.

Yesterday UK Trade & Investment Canada chose two innovative companies to participate in the UKTI Canada Global Adventure. For the rest of us, they have handpicked the top 5 reasons Canadians should be looking to the UK as their homebase in Europe.

1. CORPORATE TAX RATES

Progressive corporate tax cuts to 22% by 2014 give the UK one of the most attractive rates in Europe and lowest in the G7. 

2. ENCOURAGING R&D

Currently, tax relief on qualifying R&D costs can reach up to 200% for SMEs. Innovative companies will also benefit further from an additional reduction in corporate tax through the upcoming “Patent Box” legislation.

UK government has also announced a revamp in risk capital vehicles such as Enterprise Investment Schemes and Venture Capital Trusts to stimulate entrepreneurship and bolster the economy.

3. WORLD CLASS TALENT

Business friendly labour regulations combines with the skill, commitment and flexibility of the workforce are commercial assets to thousands of international companies. With half a million graduates from 170 universities and higher education institutions and four of the top 10 universities worldwide, the UK has the highest graduate output in Europe

4. SILICON ROUNDABOUT AND GLOBAL ATTRACTION

Located in the heart of East London, Shoreditch is Europe’s centre of innovation and location of choice for tech companies and investors. Alongside Canadian startups and small businesses like Flybits are leading international tech companies like Google, Intel and Cisco.

For those looking to start small, companies have access to free desk space for up to one year in certain locations. A well-established network of incubators like Seedcamp and C100 provide early stage funding and support and are accompanied by co-working spaces such as Google Campus and Touchdown, and top international investors including Accel and Index.

5. FAST TRACKING ENTREPRENEURS AND INVESTORS

UK Government have amended Migration Polices aimed to attract more entrepreneurs and high net worth investors. Entrepreneurs keen to establish a new start up or venture in the UK will now be required to have access to £50k to invest as opposed to the previous £200k fund requirement. For high net worth individuals who are making a substantial financial investment in the UK they can accelerate their settlement by investing between £5 million and £10 million.

Company:
UK Trade & Investment (UKTI)
Website:
http://www.ukti.gov.uk
Location:
Toronto, Ontario, Canada

UK Trade & Investment (UKTI) works with UK-based businesses to ensure their success in international markets, and encourage the best overseas companies to look to the UK as their global partner of choice. UKTI has professional advisers both within the UK and across more than 100 international markets. UKTI has a customer commitment to helping its UK and international customers by providing a range of services, to... more


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Techvibes NewsDesk

Techvibes NewsDesk

Techvibes is Canada's leading technology media property.Founded in 2002, Techvibes covers technology and business news that impacts Canadians. We combine breaking local news with international coverage to deliver a unique balance of insight and information. The Techvibes Newsdesk covers a broad beat and publishes general news stories. If you have a story you would like covered, email... more



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