Business is GREAT Come to the UK You’re Welcome Doing Business in the UK February 4 th 2015 Krzysztof Jedziniak, UKTI Investment Director – CEE Region omas Ptacek, UKTI Investment Adviser – CEE Region T T erry Mankertz, Senior Sector Lead: Software, Creative & Media and Education Richard Lever, Richard Lever, Global Entrepreneur Programme, Deal Maker UK Trade & Investment 1 Presentation title - edit in the Master slide
UKTI has more than 1,200 UKTI provides services to support new staff in over 100 investors in the UK as well as to further expand overseas markets export businesses Investment Exporting ▪ Access and ▪ Passport to Export events introductions to for new and ▪ Seminars, the right people inexperienced webinars and exporters ▪ Advice and events in the UK ▪ Gateway to Global support on setting and overseas up in the UK ▪ Growth for ▪ Tradeshow Access ▪ In-depth report experienced ▪ Programme tailored to your exporters support to attend business needs ▪ Export Marketing overseas ▪ Help selecting the ▪ Tailored assistance exhibitions. ▪ Research Scheme best location ▪ Open to Export for entrepreneurs to investigate a ▪ Tax advice ▪ UK Advisory potential export community-driven market. website for SMEs ▪ Ongoing Network access to ▪ Overseas Business ▪ Export trusted commercial government providers support once ▪ Risk advice ▪ Communications you’ve arrived ▪ Market visits and ▪ Review to assess ▪ Support with visas trade missions communication and entry to the UK with overseas ▪ Overseas Market ▪ Help finding top customers introduction quality staff ▪ Service to access research, identify contacts and plan 2
A few executive thoughts on investing and expanding in the UK: „UK is business -friendly and open „In the UK there’s a highly positive to CEE products” approach to investment” J. Kulpa, Export Director, Fakro V. Horký, CEO, Brand Embassy „Being in UK certainly was a „The UK is one of the most business- friendly environments” springboard for us” Z. Vasvári, CEO, BoatForRent.com G. Ell, CEO EMEA, Yammer „In UK we get support at every level: „The UK has been most open, from 10 Downing Street to UKTI” free and fair area to work in” P. Grimwood, CEO, Nestle P. Vandrevala, CEO, Diligenta 3
Agenda for today: ▪ UK as a top destination for business expansion ▪ Sector opportunities – automotive, aerospace, energy ▪ Opportunities for start-ups ▪ Opportunities in the ICT sector ▪ The Global Entrepreneur Programme ▪ How can UK Trade & Investment support you? 4
Why UK as a top destination for business expansion? 5 Presentation title - edit in the Master slide
There are many reasons for which UK is the top investment destination 1 • 6th largest economy in the world Vast market • Excellent international accessibility opportunity • Robust infrastructure 2 • Enterprise zones Favourable • Ease of set-up and operation business – Language environment – Stable business environment & efficient legal system 3 • High standard of living, appreciated by relocating international executives High quality of life • Rich cultural heritage easily accessible language-wise 4 • 4 of the world’s top ten universities Easy access to • Strong research base talent • Educated & flexible workforce 5 • Reduction of corporation tax to 20% by 2015 Attractive tax • Most competitive tax regime in G20 regime • R&D tax credits, Patent Box 6
The UK provides many advantages for investors and has become the top foreign investment location in Europe 1 Vast market opportunity 1 st place for Advanced 6 th largest foreign direct transportation economy in investment in systems (air, the world Europe rail, road, sea) 2 nd largest Hub for aerospace 63 million Innovation industry in the people and R&D world Access to Financial and Largest IT trade centre – 500+ mil. industry in consumers in access to Europe Europe funding 7
The Government intends to ensure that all UK premises have download speeds of min 2Mbit/s by 2015 & 90% of premises can access superfast broadband The UK will have the fastest broadband of any major European country by 2015
The UK is ranked 10th place globally when it comes to ease of doing business 2 Favourable business environment - Ease of doing business ▪ Rankings are based on the Ease of Doing Country Business Rank average of the economy’s rankings 10 th place UK 10 on 10 topics: Ireland 15 – Starting a business globally Germany 21 – Dealing with construction Netherlands 28 permits – Getting Electricity France 38 – Registering Property Poland 45 – Getting Credit Spain 52 – Protecting investors … … – Paying taxes Slovenia 33 – Trading across borders Slovakia 49 – Enforcing contracts Hungary 54 – Resolving insolvency Bulgaria 58 Romania 73 Czech Republic 75 Croatia 89 9 Source: World Bank, Doing Business 2014
The UK is ranked as an easier place to start a business than many other major European economies 2 Favourable business environment - Ease of set-up of operations ▪ The UK is ranked as an easier place to start a Ease of Starting Country a Business Rank business than many other major European economies ▪ You can register your company in just 24 hours in the UK 28 UK. All high street banks can offer business banking France 41 services with online comparison tools available to Italy 90 compare costs. Germany 111 Poland 116 Spain 142 … … Slovenia 38 Hungary 59 Romania 60 Bulgaria 65 Croatia 80 Slovakia 108 Czech Republic 146 10 Source: World Bank, Doing Business 2014
There are 24 Enterprise Zones across England providing a wide range of benefits 2 Favourable business environment - Enterprise zones Industry No of zones Benefits Advanced manufacturing / engineering 17 ▪ Co-location with customers Aerospace 10 ▪ Business rate (property tax) Agri Food 4 discounts Automotive 5 ▪ Available infrastructure Business Services 8 ▪ Simplified planning and Chemicals 1 construction Construction 4 ▪ Tax relief on investments Creative industries 5 Energy 14 Financial Services 3 ICT 5 Industrial biotechnology 4 Low Carbon Industry 7 Pharmaceuticals & Healthcare 10 Retail & Logistics 4 Security 1 Transport 5 11 Source: OFCOM – The European Broadband Scorecard, OFCOM Infrastructure Report 2013 Update
The UK ranks among the top 36 OECD countries in the Better Life Index High quality of life – Leading dimensions 3 12 Source: OECD 2014
The UK is home to 7 of the top ten universities in Europe and provides access to numerous research institutions Easy access to talent - Europe’s top universities and research centres 4 1 University of Cambridge 2 University College London (UCL) 3 Imperial College London 4 University of Oxford 5 ETH Zürich 6 University of Edinburgh Ecole Polytechnique Federale de 7 Lausanne King’s College London 8 9 Ecole normale superieure, Paris 10 University of Bristol 13 Source: QS World University Rankings 2013
The UK has the lowest labour costs per hour our of selected Western countries including a favourable labour environment 4 Easy access to talent - Educated & flexible workforce Labour costs (EUR per hour) Workforce and labour environment ▪ UK provides : 40.1 38.4 38.0 – One of Europe’s largest workforces 34.3 33.2 – Flexible labour regulations 31.3 29.0 28.1 – High labour force participation 21.1 20.9 ▪ The UK has a flexible labour environment (ranked 10 th in Rigidity of employment): – Relatively easy to hire employees – Limited restrictions on adjusting the number of working hours – Relatively easy and cheap to dismiss a Sweden Denmark Belgium France Netherlands Germany Ireland Italy Spain UK worker 14 Source: Eurostat – Hourly Labour Costs 2013, World Bank, Doing Business 2013
By April 2015, UK’s corporation tax will reach 20%, the joint lowest level in the G20 5 Attractive tax regime UK corporation tax rates Main corporate tax Profit (£) Country 2013/14 rates Small companies’ rate 20% 0-300,000 France 33.33% Marginal relief 300,001-1,500,000 Germany 29.58% Main rate 21% 1,500,001 or more Spain 30% Italy 31.4 % Netherlands 25% UK (2014) 21% UK (April 2015) 20% There are additional schemes to decrease the tax: • R&D Tax Credits (reduction of the taxable income by 225% of the R&D costs for SMEs) • Patent box – lower 10% tax rate for income generated ba a patnent (currently under review) 15
Sector opportunities – automotive, aerospace, energy 16 Presentation title - edit in the Master slide
The UK Automotive sector is one of the most advanced in the world and is predicted to further grow in the future Automotive industry in the UK Source: Automotive Council UK 17
Major global players like Ford, Jaguar, Nissan or T ata have a presence in the UK Illustrative Major UK automotive players Source: The Society of Motor Manufacturers and Traders (SMMT) 18
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