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Despite the uncertainty surrounding Brexit, the U.K. provides many competitive advantages for businesses.
Fremont, CA: Despite growing concerns about Brexit, the U.K. is a good place for entrepreneurs to begin a business or open an office. Digital technology, in particular, is a significant contributor to the U.K. economy and job creation.
Here are four reasons why U.K. is advantageous for entrepreneurs:
London is a financial hub
London remains one of the world's leading financial centers, attracting entrepreneurs from all over the world. Since the Middle Ages, the city has served as the U.K.'s economic hub and a significant trade and business center. It is home to some of the world's most powerful financial institutions.
London's vast array of financial services and reputation as a vital financial center make it an ideal location for those looking to start a business or open an office.
Local talent is strong
While the U.K. regularly attracts international talent, it is worth noting that London, in particular, has a highly talented workforce. London has more software developers than other European cities, with 250,000 workings in the capital. Many global technology companies are taking advantage of London's large talent pool and thriving startup ecosystem.
Capital of AI in Europe
As investment and government support in this sector grows, the U.K. has made significant progress in A.I. development. The U.K. government has also taken measures to fund A.I. academic research, providing financial assistance to 1,000 students pursuing A.I. PhDs. This benefits universities like Cambridge and Oxford, which have sizeable artificial intelligence programs.
Furthermore, the capital of the U.K. has a wide range of A.I. suppliers in global industries like finance, insurance, healthcare, sales, and marketing. These industries serve as a massive opportunity for London's A.I. ecosystem's future growth.
No language barrier for English speakers
English is the common language in the U.K., which is a major advantage for U.S. businesses. With a common language and a prospering tech scene, London is ideal for U.S. tech companies seeking to expand into Europe. While there are some slight differences in vocabulary, there's less of a language barrier for U.S. companies coming over to conduct business in the U.K. The neutral timezone allows global businesses to communicate and collaborate with clients or colleagues on the east coast of the United States and Asia
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