Why there is still optimism in the UK for Entrepreneurs
Many people are thinking twice before undergoing the formation of a company process. As the media is very negative about the outlook for the UK economy, entrepreneurs are asking themselves if they should form a company or not. Although the UK has not experienced a triple dip recession so far, there is still a lot of optimism for entrepreneurs, such as if they want to have a shop on a high street.
Shopping on the high street is still popular. However, some companies which have been there for generations have closed down and their premises are now empty. The UK government recently asked Mary Portas to write a report about Britain’s high streets. Her report included twenty eight recommendations which are expected to rejuvenate them. These points aim to help businesses set up new premises in Britain’s city centres in order to reverse this decline.
Mary Portas’s report shows that there is a potential for entrepreneurs to start their own business and capitalise on this opportunity. Many local councils offer low business rates in order to entice companies to their city centres. In areas which have high unemployment, a new shop opening is a huge occasion, especially as a business could be encouraged to hire local workers who have been unemployed for a long time.
However, setting up a shop on the high street can cost a lot of money. Online sales are very high because many people prefer to shop on the World Wide Web. Online shopping also means that they can buy what they want when high street shops are shut. For new businesses that don’t have much capital, they might find it very difficult to create a brand on the high street because they cannot afford to. There is a solution – start a webshop. Domain fees don’t cost as much when compared to renting a shop in a city centre. By setting up a secure payment gateway system, or by using only PayPal, a new business can start providing services or sending goods which customers have ordered.
There are many areas of the UK which still have highly skilled employees. Just because people are unemployed doesn’t mean that they have forgotten how to complete highly technical roles. Many countries around the world regard the expertise of UK workers as being the best in the world. For example, Disney announced in May 2013 that the new Star Wars films would be shot in the UK. George Lucas, who created Star Wars, has previously stated his admiration for UK technicians. The first six Star Wars films were shot partially in the UK. Even though the last Star Wars film was released in 2005, there are many film production companies that are more than capable of working on the saga’s next instalments.
Although there are many negative aspects of the UK economy, there are still opportunities for entrepreneurs to make money and create a respected brand despite what many economists predict.
This article was brought to you by www.companyformations247.co.uk. As a leading UK company formation agent they help new businesses to register their company with companies house.