Expanding your Business into the UK
The UK remains an excellent place to do business. It has a developed economy, a widely spoken language, and a well-developed infrastructure. If you’re looking to expand your business here, however, there are several things you might want to consider.
Legal Requirements
While you operate in the UK, you’ll naturally need to comply with the law. That means, in many cases, registering your business. You can register as a sole trader, a partnership, or a limited company. Having a fixed subsidiary based in the UK brings a number of advantages – but also a few obligations.
You’ll need to pay tax on your profits, in the form (mostly) of Corporation Tax. If you’re employing people in the UK, then you may also need to make National Insurance contributions.
Your accounting period for corporation tax will typically overlay the financial year, which runs from April to April. Make sure that you submit your return in a timely manner, or you could face penalties.
There are also employee rights laws to consider, as well as laws concerning health and safety. By staying on the right side of them, you can avoid costly legal disputes, and reputational damage.
Choosing a Domain: .co.uk or .com
You’ll need a web presence. If you’re in the UK, then a UK-based domain name will help you to establish trust with UK customers. It will also help you to rank higher for UK-based searches. If your business is truly international, then the ‘.com’ domain might be preferable, however.
There are also certain businesses that are uniquely identified with a particular part of the world. If you’re selling Italian olive oil, for example, an Italian domain name might help to establish credibility. If you’re actually expanding into the UK, however, this might be a niche concern.
Compliance with UK Digital Regulations
There are two distinct kinds of digital regulation worth considering. These are distance selling and data protection. If you’re selling products online, you’ll need to be accurate about the cost as you’re selling it. Customers will need to be given the opportunity to change their minds – and if you spring extra costs on them after checkout, they may be unable to do that. A good returns policy is also legally desirable.
Then there’s the famous GDPR, which is implemented in the UK under the Data Protection Act. You’ll need to treat data with appropriate care, and delete it in a timely manner.
Advertising and Marketing in the UK
You’ll need to make sure that all of your adverts comply with the guidance put in place by the Advertising Standards Authority. The type of advert you put out will depend on your business. If you’re a local business, then local adverts will work better. Generally, a combination of digital and physical adverts is desirable.
Company vehicles also provide a chance to put the message out. Opting for second-hand cars is a great way to save on budget and also still get your business out there in a unique way. You can find used BMWs series for sale nearby, and then make sure that your company’s name is on the side!
Localised Campaigns
Your marketing efforts should be tailored toward British sensibilities. That means getting to grips with British attitudes and tastes. Typically, this means working with a British advertising agency.
Logistics and Customer Support
If you’re shipping products in the UK, then fulfilment should be a high priority. You may also be obliged to provide a certain amount of aftercare. In some sectors, like fashion, online shopping is a major growth area.