Business in the UK

Prudent, polite Englishmen, who are essentially quite secretive people who do not want to talk on personal topics, even in the circle of close friends, should be engaged in private business with great enthusiasm. However, not all so simple.

Enterprise is not their main character trait – the UK economy has risen mainly due to big business, but not to representatives of small or middle class entrepreneurs. Traditional for the UK is considered the monopoly ownership of one large firm development rights in a particular area of ​​business. The British are used to playing fair, even in business. This is peculiar to the mentality of the nation. Vsevolod Ovchinnikov spoke about the character of the English in his work. He called them “the nation of law-abiding individualists.”

Therefore, for the most part, the British occupy the positions of employees and are very responsible in their duties. They are taught this in schools and universities. Schools and universities in the UK produce the best specialists. The business universities of this country are also famous for their successful and famous graduates. A small percentage of the British, who own a private business, are accustomed to doing business without going into the shadows and cheating, they are not humiliated to the “steps” of competitors. In this case, it is worth considering whether these competitors are English or not. In their mentality there is no healthy excitement and a spirit of rivalry, it is easier for them to give in than to show a competitor that he managed to unbalance them – this is tantamount to admitting defeat.

They are characterized by moderation in literally everything related to business. Experts note that the manifestations of feelings in a football stadium while playing your favorite team is a completely different field. Unlike other nations and peoples, where the desire to become more independent in every person is almost in the blood, the British have a desire to get a good job that would allow them to spend enough time on their family and home. There is no tendency in British families to inculcate in children a desire to do business since childhood. At the end of last year in the UK, a study was conducted, according to which every fourth would like to engage in private business, but the age of such respondents did not exceed 35 years.

The vast majority of respondents over 35 were satisfied with the work that they had at the time of the study. Important for the Englishman is the potential for development and inspiration. Medium and small businesses today make up 5,000,400 enterprises. A number of laws were passed that would encourage people to engage in private entrepreneurship, while some tax concessions were made, and the degree of involvement of people in business increased significantly. Almost all enterprises in the segment – the category of small business – in such an enterprise can work up to 49 people. But in the overwhelming majority of cases, these are representatives of a family business, a microenterprise, with a staff of no more than 4 people.

A smaller number of entrepreneurs choose the form of ownership of LLC (Limited Liability Company, otherwise – LLC / Ltd.), or a separate category – LLC enterprises, where responsibility is shared between partners, and each carries its own measure of responsibility and each of them pays its own share of taxes (Limited Liability Parnership)

The statistics states that the business is opened by those British who simply did not have a place in a large holding and they literally had to engage in private production or trade. The British do not start in business to prove something to themselves or to identify themselves in society. In Asia , everything happens the other way around – at first, young, ambitious people try their hand at a startup, and then find themselves working in companies if they fail to open their own businesses. In the UK, business is also fully compliant with existing laws, with everyone knowing exactly what they can offer in the market, and constantly improving their professional skills in order to be competitive.

Some types of business require, in addition to the charter and the memorandum of association, a number of restrictions on the minimum size of the share capital. These include financial and brokerage services. The level of authorized capital – from 130 000 euros. A license is also required, as well as evidence proving the applicant’s professionalism in starting a business. Types of businesses subject to compulsory licensing: agriculture (farming); building; educational activities; transportation; security; the medicine; public catering (the conditions in which the business – sanitary and hygienic standards take place are checked and subject to licensing).

Writing software is quite common in the UK – freelancers, freelance workers who work with design and with the appropriate education or without it. Freelance sites offer not only their services, but also their projects. Most often, they provide links to examples of their work. This activity is not subject to licensing, such kind of earnings can supplement your income on foreign sites and our fellow citizens, if they have a sufficient level of English proficiency. Social marketing services may be provided without special restrictions. The share of small and medium-sized businesses in the country’s GDP is small companies with a turnover of less than $ 3,000,000, medium-sized – from 50 to 250 from 3 million and above. Small businesses – 99.3 percent. Medium-sized enterprises – 0.6. The contribution to GDP of small enterprises is 33 percent. The contribution of enterprises to GDP is 52 percent.