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Starting a business in the UK
Basic requirements and conditions for launching a company in the UK
Panoptic Insights is engaged in the analysis of European business markets. Based on big data, we collect objective information about the state of the economies of the eurozone countries in the segment you have chosen and describe the growth points with the maximum ROI marketing investment.

In a small note below you will find key information about the launch of a business in the UK.

Market review

Great Britain is the fifth-largest economy in the world and the second-largest in Europe after Germany. The country's economy is based on the principles of private property and the free market.

The UK economy largely depends on the services sector, which accounts for about 80% of the GDP. The country is home to many major international financial institutions, and London is considered one of the leading financial centers in the world. The production and construction sectors play an important role in the economy, while the agriculture and mining industries make a minimum contribution.

Panoptic Insights analysts identified several key trends in the fastest-growing segments of the country's economy. Business owners who will come to these industries will have the greatest chances of success.

  • The technological sector includes software production companies and online stores.
  • Health and social assistance. The aging of the population and the growth of healthcare costs are two factors that contributed to this growth.
  • Professional, scientific and technical services. Including legal and accounting consulting.
  • The construction sector. The growth of which is due to the growth of state expenses for the infrastructure.
  • Financial and insurance services. London will remain a major world financial center since the UK continues to exert its influence on world finances.
Learn more about growing segments in the UK with a 30-minute connection with our analyst. Choose a convenient time for communication

Company registration

Creating a company in the UK is quite simple. There is a lot of information on the government website about all procedures and the necessary documents.

For non-residents of the country, the procedure is as follows:

  • Choose the name of the company: you will need to choose a unique name for your company, which is not yet used by another business. It is advisable to check whether the name you have chosen by searching in the Unified Register of Companies is available.
  • Register. This can be done online or by mail. You will need to provide the name of the company, the registered office address, as well as the data of directors and shareholders.
  • Get a tax number. After registration, you will need to receive a tax number, also known as a unique number for taxpayers (UTR).
  • To appoint a UK resident as a director. To conduct economic activity, you need to appoint at least one director who is a resident of Great Britain.
  • Get specific licenses or permits. Depending on the nature of your business, you may need additional licenses or work permits in the UK.
  • Open a bank account. Opening an account will allow you to conduct calculations with your customers, pay salaries and participate in support programs.

Registration for foreigners

At the opening of the company, people without registration in the UK have the same rights as the residents of the country. Any company opened by a foreigner must have as a key employee (general director, managing director, chief operating director) a citizen of the country and register at this residence.

In addition, government officials may request additional information about non-residents before making a decision to open your company.

It is important to note that the rules and provisions for the registration of the company can be changed. We recommend that you verify the current laws and rules for registering companies before serving and, if necessary, will turn to professionals.

Support programs

  • 1
    Horizon Europe
    Horizon Europe programs are open to all types of companies around the world.

    Suitable if you:
    • Develop new technologies;
    • Make a significant contribution to areas such as the study of space, biotechnology, etc.;
    You solve global problems associated with climate change, aging of the population, food security, etc.
    Small companies are also offered the help of mentors to develop a marketing strategy or search for financing.
  • 2
    Prince’s Trust
    Prince’s Trust supports young people with business ideas.

    You can be served if you:
    • Not employed (or work no more than 16 hours a week);
    • You have no professional education (MSC, Ph.D.)
    • You are from 18 to 30 years old.
    You can get:
    • Financial support in the amount of 1000 to 5000 pounds;
    • Mentor support, help in writing a business plan and obtaining a loan.
  • 3
    Small Business Research Enterprise Centre - London offers information support, and also organizes educational events and workshops for individual entrepreneurs, startups and charitable organizations.
  • 4
    Enterprise Steps
    Enterprise Steps provides free support to new enterprises located in London, offering management in the process of their creation and formation. The project also advises existing enterprises, helping them grow.
From insights to action
See other possibilities for the development of your business using startups and small business support programs.
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Get more data on the status of specific UK segments by writing to us!
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