Are there any critical timing issues to consider when setting up a business in the UK?
The two main time considerations relate to bank account set up and employing staff.
Opening a bank account with one of the main banks can take two months or more and can be a time-consuming process. An online application to one of the emerging challenger banks is much faster. However, the range of banking services provided by challenger banks will be reduced in comparison to the full-service menu of one of the main banks.
When hiring employees, you will need to factor in their likely notice period from their current role. This period can range from one to three months. In the case of C suite executives, it can be up to six months in length. At the discretion of the current employer, these notice periods may be reduced.
Read more about how we support International industry at every stage of Entering the UK Market business journey. As always, please feel free to get in touch with me to discuss your own business situation.
You may also find the information in these articles useful for the stage of your business
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