Foreign Direct Investment (FDI) is a key factor driving the strength of the UK economy – larger overseas companies bring a new range of technological and managerial experience, and FDI also encourages UK firms to be more competitive and can stimulate the development and efficiency of supply chains. There is concern that Brexit will reduce FDI inflow the UK relies on, especially within the financial services, technology and manufacturing industries.
Deciding where and how to expand your business overseas is by no means an easy task and one which has arguably been made more challenging by recent global economic and political uncertainty. Download and read our guide to Doing Business in the UK - Key Aspects and Considerations.
Attracted by favourable exchange rates, US corporations have been eyeing up Britain’s top companies as EU buyers have lost interest. Ecovis Wingrave Yeats’ Managing Partner Gerry Collins believes this demonstrates the confidence that US bosses have in the UK’s economy and its innovative businesses.
While it can be tempting to be overwhelmed by the amount of Brexit bad news being shared, it is important to also recognise the possible benefits of the UK exiting the EU next March.
There is no doubt that the result of the June 2016 referendum will have a significant impact on the UK’s trade and relationships with the European Union and the rest of the world. However, the attitude of most companies and indeed the government is very much ‘business as usual’.
The UK has been the largest recipient of US investment for a number of years and the attraction of the UK as a destination for further US investment could be further increased in a post-Brexit world.
On Tuesday 10th January the news broke that Snap, the company behind Snapchat, is setting up an international office in Soho, London. This involves expanding the existing office and UK workforce and handling all sales from countries outside of the US (as well as recognising the accompanying revenue).
Following the EU referendum in June 2016, which yielded an unexpected Leave result, London Mayor Sadiq Khan launched the #LondonIsOpen campaign to show that London is united and open for business. So undoubtedly, the Mayor will be as delighted as we are to hear that the UK has jumped 5 places to 10th position in the World Bank league table of business-friendly tax regimes.
London has a world-renowned reputation as an economic and cultural powerhouse, catering to both the lone hot-desking entrepreneur to some of the largest companies in the world. So you’ve decided to set up business in London but are wondering what exactly makes London the number one choice for foreign investment?
Many businesses and potential investors will be uncertain as to what the future will bring as a result of the UK’s decision to leave the European Union following June's referendum.
The UKTI Inward Investment Report for the financial year 2014/2015 concludes that the UK represents the number one destination for foreign direct investment (FDI) in Europe with England and more specifically London being at the top of the list.
It takes more than just money and good intentions to drive innovation. Training engineers, subsidising start-ups and building futuristic spaces all play their part, but if it were so simple, how come Chengdu’s Software Park is failing to attract China’s talent? And how come Moscow’s Science City is struggling to bring its robotic brilliance to market?