Startup Ecosystem in the UK
The UK is among the world leaders in supporting startups. In the UK, startups have remarkable development opportunities as they get all the support needed in the appropriate environment. One of the biggest advantages of the UK in this regard is its qualified workforce.
In the UK, especially the technology sector is growing 2,6 times faster than the country’s economy. Companies receive billions of pounds of venture capital investment each year. UK tech companies attracted £ 11,2 billion in venture capital financing in 2020. These investments include the establishment of seven unicorn companies valued at more than $ 1 billion. The UK startup ecosystem offers enormous market opportunities because the UK market has a technology-oriented structure that adapts quickly to changes.
The global or European headquarters of most of the large international companies are in the UK. Apart from that, many technology and innovation companies prefer the UK as well. Many UK cities have specialized technology hubs in both general and specific sub-sectors, and these are entities planned with the government’s support.
Today, London finances technology investments the most after Silicon Valley. Apart from the London Stock Exchange, there is a very developed venture capital and angel investor network. There is a trading unit within the consulates of the UK in 51 countries to promote the UK investment environment. The purpose of these units is to try to help companies that want to invest in the UK while taking their first steps. These units provide support to startups in many areas, from obtaining a visa to establishing a company. With the events organized, companies are enabled to develop business.
The UK is one of the countries where it is easiest to do business because working environments are far from bureaucracy. In addition, the convenience of company formation processes, the innovative market environment full of opportunities, and investors from all over the world make the UK a startup paradise. In addition to these, the tax structure of the country also provides many advantages. The fact that the corporate tax rate is 19% makes the UK stand out among the G20 countries.