Business in England
In England, you can start quickly making good money. Until the 1970s, small business in England was very poorly developed, since it was not considered prestigious. But then the state decided to introduce various programs to support small businesses and start-up businessmen. Naturally, after this, those wishing to open their small firm in this country have increased significantly. Small business began to grow rapidly, and now it brings the country 50% of GDP.
Our company in England guarantees you a reliable and stable business. Another significant plus to the opening of a company in this country is that England has quite a serious weight in the European Union and is not on any black list in terms of economy or finance.
What business to open in England
For Russian people, England provides many options for opening their own company. Our compatriots are successfully engaged in the tourism business in England, they open a translation bureau, pastry shops, small cafes, and beauty salons. If you open a travel company, then focus, of course, on customers from CIS countries. Success can also bring a consulting company that consults for residents of post-Soviet countries about opening their business in the UK.
If you are attracted to the restaurant business, we do not recommend opening sushi bars or Japanese restaurants in England. There are very, very many such institutions in London and other English cities. To break through such competition will be difficult, and a foreign entrepreneur is doubly. But the restaurant of Russian cuisine may come in handy. You can open a full-fledged restaurant with Russian national dishes, and fast food. For example, pancake. A variety of pancakes with fillings and other flour products can come to the taste of the British and tourists. The most important thing is to add some “zest” to your establishment so that visitors can select it from the general mass.
Hotel business is another promising area in England. However, it is worthwhile to open not a large hotel, but a bed and breakfast hotel. These are small hotels, the concept of which is to provide the client with bed and breakfast. Such hotels are very popular with traveling people. You can consider the option of a family hotel. Such facilities are usually also small and cozy, and the cost of services in them is much lower than in large hotels. Therefore, the demand for them is quite high. Organized groups of people often come to England for educational purposes – to learn a language or learn British culture. Such groups need affordable housing for a fairly long period. Small and cheap hotels and hostels – just what they need.
Types of companies in England
Under the laws of England, you can choose one of the existing types of company registration, based on your desires and possibilities:
1. Limited liability company (Private Company Limited by Shares). Each founder of such a company is liable limited by the amount of his personal contribution. This type of business is suitable for most companies.
2. Limited liability company under the guarantee (Private Company Limited by Guarantee). Such companies are more often created for non-commercial purposes, for example, for charity. Guarantees are the amounts that the founders are willing to invest in the asset of the company in the event of its liquidation.
3. Society with unlimited liability (Private Unlimited Company). All founders are fully responsible for the activities of the company, regardless of the amount of their personal contributions. The minimum number of founders is two people.
4. Open Joint Stock Company (Private Limited Company). The responsibility of each shareholder is limited to the value of its shares. Shares of the company can be put up for sale and sold to anyone. The minimum number of founders is two people.
How to register a company in England
To apply for a business registration, you need to collect the following documents:
1) statement. It must contain the name of the company, its legal status, information about all the founders of the company and an explanation of their rights and obligations;
2) the charter of the enterprise. You can write it in your own language, but you need to attach a copy translated into English. A copy must be notarized;
3) the company’s balance sheet. It must also be translated into English and notarized.
To open your business in England, you will need at least 200 thousand pounds sterling (~ 300 thousand dollars). Entrepreneurs who are willing to invest in the opening of the company a serious amount, registering authorities are more loyal. Therefore, the greater the amount you declare as your share capital, the greater the chances that you will make a quick and positive decision on your application.