The UK Leads the Way in European Startups

The United Kingdom always strives to be one of the leaders in Europe (and wider afield) in just about every industry. Whether it’s being a financial superpower or one of the leading producers of specific food produce, British companies and organisations have put global leadership at the forefront of their plans.

In business this leadership is crucial to short and long-term success. To get to the very top of your field you need to implement the best strategies to produce the very best quality and that is no easy task.

You see from sport that throwing money at something doesn’t guarantee instant success and the same is true in the business world. You need to work from the grassroots level and whether that means going back to basics for a while to nurture young talent or persisting with a long-term goal is down to the individual firms, but British companies are still desperate to achieve in their chosen fields.

Across Europe, the UK is looked up to and respected in terms of what it has done at the aforementioned grassroots level. There are more and more jobs emerging within startups across England, Scotland, Wales and Northern Ireland than anywhere else in Europe according to a study by which, considering the recent financial crisis which has blighted the traditional high street and left thousands out of work, is incredibly encouraging.

In comparison with another of Europe’s giants, Germany, the UK is producing twice as many jobs in startups per 100,000 with more than 550,000 people hired by companies who opened their doors in 2012. France was the second highest employer, ahead of the Germans and Norway.

From a financial perspective the report also looked at the effect the new National Insurance employment allowance has had in the United Kingdom with allowed businesses to reduce the amount of tax they paid in terms of National Insurance each year. (To receive more information on the National Insurance employment allowance and other tax rates, speak to an accountant who will be able to provide detailed information and advice on taxation).

This allowance has saved UK companies around £2,000 each year, reducing the cost of a company taking on their first employee and enabling them to grow at their own speed without having to worry about the costs of hiring in the early years.

Experts believe that the positive news about UK startups shows that the firms are not just a flash response to job cuts in the recession, and that they are actually being led by ambitious people with the determination and expertise required to make a successful new business.

Leave a Reply