The Risk and Benefits of Starting a Business in Britain

1498 Words3 Pages
bulb-icon

Recommended: Benefits of free trade in globalisation

This is a globalized environment where each country depends on others in several conditions especially in the business world. To enable a world-wide economic condition, a country should open up every chances of bilateral or multilateral relationship with different countries. United Kingdom or Britain in this case; is one of several fastest economic growth countries in this world. As a country with the high reputation in economic growth, Britain governments together with the citizens have done numerous strategies to boost the economy and even survive during the recession. It’s already known that the key to a strong economy condition is the high rate of healthy national business condition within a country. That’s why Britain government realizes the importance of attracting the people’s interest of entrepreneurship in Britain. Entrepreneurship means starting new businesses, and it’s the best way to increase the economic growth since new businesses are the innovative and new ones, they absolutely will create many new job opportunities and add more tax income to the government itself.
Above all the facts about Britain as one of the most industrialized countries that offers great hope and opportunity for many entrepreneurs to start their businesses, there is a factor of recent economic condition in this country that will affect those new businesses. Despite the global recession in 2008 that started in USA, Britain once more successfully proved that this country can survive this severe economic condition. Even in the start of 2014, Britain has become a survivor by do it’s best and increase the Gross Domestic Product (GDP) into 1.9% at the end of 2013 . This economic condition in Britain brings benefits to the new businesses. But since t...

... middle of paper ...

...on of a country affects the new businesses in that area. As new entrepreneurs who want to stand by his or her own and start make money, this factor is a must to be considered first. And beyond the fact that Britain is one of so many countries that suffer for the global recession, Britain is one from a little number that can finally recover for sure.
Yes it is some risks that a new business must face in this country, but the benefits there somehow can cover all those risks and trigger the enthusiastic of many future entrepreneurs. Of course there are reasons that new business might fails, not only in Britain but everywhere, there’s no 100% guarantee that starting a new business is an easy thing to do. But with a huge help from government and a recovered economic condition, there will be greater chance for more and more new businesses to grow and flourish in Britain.

Show More
Related

  • Why and How Do Policy-Makers and Practitioners Intervene to Encourage New Firm Formation and Development?

    773 Words  | 2 Pages

    Why and how do policy-makers and practitioners intervene to encourage new firm formation and development?

    Read More

  • Benefits Of Uk Membership For The European Union Outweigh The Costs

    1531 Words  | 4 Pages

    In conclusion, the benefits of the UK’s membership in the EU outweigh the costs. The most significant benefit is the access they have to the single market as this has managed to benefit quite Access to single market is aiding this inward investment

    Read More

  • Should The United Kingdom Leave European Union Case Study

    1761 Words  | 4 Pages

    Well according to the Institute of Economic Affairs, if the United Kingdom leave the European Union the economy would not be affected as the Government can negotiate a way to keep some freedoms in place like movement of goods. The Institute also claim that Britain is one of the least regulated economy in Europe as a result business would still locate their company to Britain as it is easy to operate in Britain compare to the rest of Europe and also because of the trade surplus it has with other countries in the Union, the economy would not suffer any damages (Pycock 10-16).The economy of the United Kingdom is in a better position if it leaves the EU, and According to the Telegraph " The United Kingdom will be the second most successful economy in the world"(Holehouse). According to the two sources Britain could actually benefit leaving the European Union as it would be free to trade with other major countries like China, India, and Brazil. As a result the United Kingdom could position itself as a premier destination to invest and start operation in and also a stepping stone to the European market. But the according to the the Centre of European reform, the economy will suffer if the UK leave the Union as there are about 4-6 million jobs that are directly related to the Union (Springford. et.al 28). The Government cannot afford to lose that many jobs because that mean the Government would lose millions in tax money as a lot companies would move to other countries. Because the United Kingdom is typically chosen to be the first country as their starting base if they want to do business with the EU. The two claims contradict heavily as the IEA base their report that the UK can use its economic size as leverage, While CER 's claim that the UK location and also it

    Read More

  • British Entrepreneurs and the decline of the British economy

    3597 Words  | 8 Pages

    Was the British entrepreneur the most important single reason for the relative decline of the British economy in the late nineteenth century?

    Read More

  • UK's Economy in Europe

    1756 Words  | 4 Pages

    When we look at unemployment in the UK we can see that it is around

    Read More

  • Brexit: Evaluating the Costs and Benefits

    1304 Words  | 3 Pages

    In addition to that, job issue is also a significant problem. Although controlling immigration will create more job opportunities for local English people, leaving UK will also result in losing over three million job opportunities in general. Behind these figures, it means not only British people will not gain more jobs, but also

    Read More

  • Considerations Of A Strategic Plan

    1447 Words  | 3 Pages

    New businesses will take longer to thrive with the United States falling economy. The faltering job market and the deepening slump in housing threaten to hurt consumer spending. Consumers are becoming more conscious of their spending and therefore using cash to pay for smaller necessary purchases. The cost of entertainment and other presumed luxuries may be pushed to the background by most families, when having to choose whether to pay for a bill or treat the family out. Thriving businesses will understand the need to provide a service or product at affordable prices.

    Read More

  • Types of Businesses in America

    1338 Words  | 3 Pages

    ...g. Businesses structures and regulations are strong and firm which help businesses around the nation. The rules and regulations from the federal government help and keep the people safe. Starting a business is easy and profitable. It may be easier to start a sole proprietorship rather than a corporation. But many can receive help from family or friend and start a partnership where there is help and support of a partner. There are advantages and disadvantages for all forms of business. There are endless opportunities for the American people. There optimistic attitudes can lead them to great wealth.

    Read More

  • Krispy Kreme Case Analysis

    2241 Words  | 5 Pages

    A country's economic environment plays a significant role in the success of businesses operating within that country. Countries with struggling or shrinking economies were not included in the top ten ranking. Economic indicators and trends selected for this analysis:

    Read More

  • Importance of Cultural Differences in International Business

    1761 Words  | 4 Pages

    Our economic development will forever be defined as our ability to succeed internationally. PwC forecasts India’s real annual GDP growth until 2050 at 8.9 percent, Vietnam’s at 8.8 percent, and China’s at 5.9 percent. The list of fast-growing emerging markets goes on and on. The U.S. forecast is a meager 2.4 percent, comparable with most Western economies. The domestic companies that are likely to see incremental growth in the coming decades are those that are not only doing business internationally, but that are developing the strategic skill set to master doing business across cultures. Cross-cultural core competence is at the crux of today’s sustainable competitive advantage. For example, political environment will tell us, as to how and why political leaders control, whether and how of international business. Legal environment, both national and international will tell us about many kinds of laws by which business firms must work. The cultural environment will tell us about attitudes, beliefs and opinions important to business people. Economic environment will tell us about the economic system being followed by the host country, which may or may not be different from home country. It will also explain the variables such as level of development, human resources, Gross Domestic Per Capita and consumption patterns that determine a firm’s ability to do business. Geography will tell us about location, quantity, and quality of the world’s resources.

    Read More

  • Annotated Bibliography To Knowledge Management

    844 Words  | 2 Pages

    Sometimes people invest in businesses, but they are unable to thrive through financial crisis when they arise. The book has used several examples to helps business managers to see through their institutions during financial depression periods. When business management uses various innovative ideas, it can be able to defeat market inflations that affect the business. Investing in many innovative ideas helps business to ship in profit from different sources. The sources of income mutually benefit from each other. Therefore, should one source fail it can be supported by others. The book has given various concepts in business management. These concepts help managers in collective decision making that propel business towards goals achievement. The concepts in the book also help managers and entrepreneurs in managing the workforce in an organization. The book has also given the concepts that help business stakeholders in investing in innovative ideas that can be well integrated with modern business. It has also given case studies that help the readers to have a deeper understanding of the management

    Read More

  • Essay On Absorptive Capacity

    1410 Words  | 3 Pages

    A lot of literature studied the ‘liability of smallness’ and the ‘liabilities of newness’ (Stinchcombe, 1965) especially for small and young firms. They suggest that entrepreneurial firms can minimize the costs and risks associated with foreign expansion over time (Lu & Beamish, 2001).

    Read More

  • The Entrepreneur

    3031 Words  | 7 Pages

    "Entrepreneurs who start and build new businesses are more celebrated than studied. They embody, in the popular imagination and in the eyes of some scholars, the virtues of "boldness, ingenuity, leadership, persistence and determination." Policymakers see them as a crucial source of employment and productivity growth. Yet our systematic knowledge of how entrepreneurs start and grow their businesses is limited. The activity does not occupy a prominent place in the study of business and economics.

    Read More

  • Franchising Essay

    1156 Words  | 3 Pages

    The first part provides reasons why starting a new business is profitable in terms of having higher or bigger possibility for growth of the business and higher rate of return. The second part highlights the originality of starting a new business as an entrepreneur. The last part mentions why starting a new business is more entrepreneurial than franchising in terms of entrepreneurial skills and

    Read More

  • Automobile Industry Essay

    1961 Words  | 4 Pages

    There are also barriers that limit the potential growth of industries. Such as the lack of adequate infrastructure, the roads and ports are lacking, congested roads with no parking available and electricity shortages. Foreign businesses need to have all this in mind when trying to invest in a country that seems to be very attractive.

    Read More

More about The Risk and Benefits of Starting a Business in Britain

Open Document