logo image

Business in the United Kingdom

United Kingdom has favorable environment that is desirable by any investor to do business in since it enjoy a stable democratic government. There four countries that constitute to United Kingdom and they include: England, Wales, Scotland and Northern Island. Being the first to enter industrial revolution, United Kingdom economy had grown steadily over the years. [1]

In the United Kingdom, there lies South East city which is the second productive region. The region is connected to a major transport links that makes it accessible by the business community. In order for the region to sustain an international position in the world, it has continued improving in areas of education in order to ensure its people are equipped with the necessary skills that would bring development in the area. The region on the other hand has strong cultural heritage and has population of over eight million people.

On the western side of United Kingdom lies West of England city that is composed of Wiltshire and Gloucestershire counties. There a lot of advancement in the region as far as engineering is concerned which include areas of aerospace contractors and defense. There is also a lot of advancement in areas of leisure, tourism, ICT and

Need essay sample on "Business in the United Kingdom"? We will write a custom essay sample specifically for you for only $ 13.90/page

food and beverages. The region has housed most of the government institutions that include UK government intelligence centre and GCHQ.  There is a lot development in the region since the region has grown as far as insurance, banking and business services are concerned. Bristol, which was ones the second England’s largest city, is in the region. Most of the skilled workforce comes from the region that comes from the two flourishing universities.

The community has contributed to the development of the West of England as many firms ensure that they put back something to the community. A finance development programme has been developed by clerks in the medical field in order to offer training to the youth. With this kind of a move, there is an assurance that, in future, there will be well enhanced individuals who will contribute toward the development of the region by use of the skills they have acquired.

There are businesses of all walks of life in the United Kingdom. Although most of the businesses are small, there are those which are large enough and have employed a big number of people. However, most of businesses are individually owned although there are those that are owned by jointly by individuals who come up together to make form a partnership. [2]

To start any form of business in United Kingdom is not hard, as the government has ensured that the requirements are affordable by any investor interested in starting a business in United Kingdom. To ensure that the consumers are not exploited, the business community is governed by code of ethics that ensures that discipline is maintained at high level within and outside the business community by the businessmen.

There are a number of business organization associations that have been formed in United Kingdom by businesses to ensure they overcome challenges that affects their business organizations.

United Kingdom has a strong business relationship with countries they deal with and due to this, they have continued to trade with these countries over the years. In fact United Kingdom is one of the countries that have very high gross domestic product in the world. It is fifth in number in the world in term of gross domestic product hence it means that the country is wealthy. In term of economy, United Kingdom is second after Germany in Europe.

United Kingdom being a member of G8 and European Union, it has had a lot of benefits from the member countries. This has had an impact on the economy of the United Kingdom since these member countries strengthen the members’ business relationship when dealing with each other.

One of the most crucial factors that make United Kingdom to prevail in the international trade is the fact that its Capital – London – is one of the world’s largest financial centers. There are only two largest financial centers in the world, namely: London and New York City and due to this fact, the two countries have a lot of influence in the world’s business. [3]

One of the reasons as to why the British economy has shown a significant growth over the years is the fact that most of the organizations that were owned by the state during Margaret Thatcher’s reign were privatized. Some of these organization which had been run by the state since 1940’s had not been performing and when they were privatized, they started showing significant growth and many people were recruited to run them. There have been also a lot of taxes that were collected from these firms, something that was not happening when they were run by the state.

This has in turn should drastic change in the British economy since the gross domestic product went up as a result of this and the lives of British citizens has since then improved. Currently, the British government owns just a few organization that it run since the others where privatized in 1980’s during Margaret Thatcher’s reign. The only organizations that are run by the state in United Kingdom are the post office and railway corporation among others.

United Kingdom due to its stable political government, it has continued to enjoy a strong economic background since the environment has continued to attract more and more investors from all over the world. Currently, United Kingdom is enjoying the longest sustained economic period for the last 150 years continuously. Among all other European Union countries, United Kingdom has the lowest rates in terms of unemployment, inflation and interest rates.  As compared to other English speaking countries, United Kingdom has social services and public services that are weak and in terms of income distribution, there is a lot of income inequality. [4]

One of the resources that have greatly improved British Economy is the availability of energy resources such as natural gas, coal and oil reserves. These resources usually account for gross domestic products of approximately 10% and it is indeed the highest share in regard to any other industrial nation in the world. In 1990’s, United Kingdom was the net hydrocarbon exporter and was indeed the region that produced the highest quantity of oil after Norway after Western Europe. However, there was a significant change in June 2004 as hydrocarbon exports decreased for the first time in history as they were below the imports. Although they expect this trend might continue being so over the year, this will not affect United Kingdom economy. [5]

Most of the electricity used in United Kingdom, 75% of is produced from fossils fuels, 19% from nuclear power, while the remaining 5-6% is generated from hydroelectric and non-wind renewable. There is also some electricity that is generated by from wind turbines. The government has continued to play a significant role in ensuring that even if the government is generating energy enough energy to run their the industries. Almost all the industries in the UK are run by use of energy hence; the production of electricity in the region plays a significant role in ensuring that there is adequate electricity to run these industries.

The industries may not be growing if there has been inadequate electricity in the region which would have in turn affected the British economy at large. The government has also contributed to ensuring there will be no more depletion of the ozone layer that has been causing global warming the world as they are signatory of Kyoto Protocol. There is also climate change programme that was launched in the United Kingdom that has continued to ensure that global warming effects will soon be dealt with as there will be no depletion of the ozone layer. [6]

There are a number of organizations that contribute to the growth of United Kingdom’s business due to their involvement in production of energy resources. These companies include: Cairn Energy; Anglo American, BP and Shell; Rio Tinto Group and BHP Billiton, among others. These are some of the industries in the United Kingdom that has ensure that they produced adequate energy sources that are in turn utilized by the business community in production of their goods and services that are sold both locally and internationally.

As far British economy is concerned, United Kingdom is not left behind as far as agriculture and fishing is concerned. In fact, United Kingdom is one of the countries that lead as far as fishing industry is concerned. Most of they fish comes from Grimsby, Peterhead, Fraserburgh and other coastal towns which are processed and them exported or sold locally. For this case, fishing industry has indeed contributed to the British economy due to the taxes that accrual as a result. [7]

References

Business in the Community (2007): 25 Years of Business Impact, Retrieved from

http://www.bitc.org.uk/what_we_do/the_princes_seeing_is_believing_programme/index.html, on April 18, 2007

Farah, P. (2006): Five Years of China’s WTO Membership: – EU and US Perspectives on

China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, V. 33, No. 3, pp. 263 – 304

[1] Business in the Community (2007): 25 Years of Business Impact, Retrieved from http://www.bitc.org.uk/what_we_do/the_princes_seeing_is_believing_programme/index.html, on April 18, 2007

[2] Business in the Community (2007): 25 Years of Business Impact, Retrieved from http://www.bitc.org.uk/what_we_do/the_princes_seeing_is_believing_programme/index.html, on April 18, 2007

[3] Farah, P. (2006): Five Years of China’s WTO Membership:- EU and US Perspectives on China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, V. 33, No. 3, pp. 263 – 304

[4] Farah, P. (2006): Five Years of China’s WTO Membership:- EU and US Perspectives on China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, V. 33, No. 3, pp. 263 – 304

[5] Farah, P. (2006): Five Years of China’s WTO Membership:- EU and US Perspectives on China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, V. 33, No. 3, pp. 263 – 304

[6] Farah, P. (2006): Five Years of China’s WTO Membership:- EU and US Perspectives on China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, V. 33, No. 3, pp. 263 – 304

[7] Farah, P. (2006): Five Years of China’s WTO Membership:- EU and US Perspectives on China’s Compliance with Transparency Commitments and the Transitional Review Mechanism, Legal Issues of Economic Integration, Kluwer Law International, V. 33, No. 3, pp. 263 – 304

Can’t wait to take that assignment burden offyour shoulders?

Let us know what it is and we will show you how it can be done!
×
Sorry, but copying text is forbidden on this website. If you need this or any other sample, please register

Already on Businessays? Login here

No, thanks. I prefer suffering on my own
Sorry, but copying text is forbidden on this website. If you need this or any other sample register now and get a free access to all papers, carefully proofread and edited by our experts.
Sign in / Sign up
No, thanks. I prefer suffering on my own
Not quite the topic you need?
We would be happy to write it
Join and witness the magic
Service Open At All Times
|
Complete Buyer Protection
|
Plagiarism-Free Writing

Emily from Businessays

Hi there, would you like to get such a paper? How about receiving a customized one? Check it out https://goo.gl/chNgQy