The United Kingdom is one of the countries that make up the European Union. However, the United Kingdom is often further subdivided into England, Northern Ireland, Wales and Scotland, each of which is also regarded as a country.
The UK has always been a part of the European Union since its formation on 1 November 1993 in Maastricht, Netherlands. The European Union sometimes referred to as the EU, is an economic and political union consisting of 27 member states all primarily located in Europe. Even though the European Union uses the Euro as its common currency, the UK had continued to use the British pounds.
In 2016, the UK voted to leave the EU: A process that officially started on 31 January 2020. You might be wondering if you should still start a business in the UK after leaving the EU or not.
The UK remains a stable country to establish a business despite Brexit. Some of the reasons why you shouldn’t change your mind about starting a business in the UK because of Brexit are discussed subsequently.
Stable business climate
The UK has always been a stable country to do a business even with Brexit. The country has always put in place measures to support viable businesses to thrive in the country. Knowing that Brexit can put some doubts in some investors mind, the UK will put in more effort to make sure the business climate remains positive. Hence, you shouldn’t stop your plans to start a business in the UK because of Brexit. When you need to get office supplies for your British office, you can read through office supplies UK online reviews on Britainreviews.co.uk to know what office supplies you will need and which online store you should order them from.
Even though being a member of the EU would have afforded you easier access to 446 million people living in the region, the UK has an impressive population of over 66 million people. Hence, getting just a percentage of the population of the UK as your customer will still give you access to over 6 million customers. Hence, there are enough prospective customers in the UK alone to keep your business going as even without Brexit, the 66 million would have still been your primary target.
Can still expand to other EU countries
If you are interested in selling to the entire EU, it should not deter you in starting your business in the UK. You can always expand to one other EU country after the business has started. With that, you will get easier access to the whole EU region even though you started your business in the UK. Even without expanding to an EU country, doing business with EU countries should still not be a problem as all EU countries have business relationships with most other countries across the world with businesses that export and/or import from the EU.
Can sell to other countries in the world
Apart from the 446 million residents in the European Union, there are at least 6.5 billion people in other countries of the world. You can also position your business to do sell to other countries outside the UK and the EU. You might just pick some EU countries you want to sell with and register in line with the protocol of the government in those countries to operate there.