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UK Contractors: UK one of the cheapest places in the world to set up in business

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Contractors will be interested to hear the findings of a recent report, which has revealed that the UK is one of the cheapest places in the world to start up a business.

Findings from public policy think-tank, Legatum Institute, revealed that the UK is in fact the third cheapest place in the world to set up in business.

Legatum Institute’s 2014 Prosperity Index also shows that Britain is one of the most prosperous in the EU, coming 13th overall, and ranking three positions higher than last year’s index.

Germany came 14th, France 21st, Spain 26th and Italy 37th – Russia was the worst performing in Europe, coming in at 68th.

Chancellor of the Exchequer, George Osborne, commented, “Today’s report by the Legatum Institute which shows the UK as the most prosperous major EU country provides further international support for the government’s long term economic plan.

“Thanks to the difficult decisions we have taken to deliver economic security and control the public finances we have moved three places up the global rankings. It is fantastic to see Britain leading the way for entrepreneurship, personal freedom, health and education.

James Barty, a special adviser to the Institute, added, “Politicians are often blinkered by what drives national success. Although a solid economy is a pre-requisite – and the Government should be proud of its achievements in putting the public finances on a sound footing – other factors are vital when it comes to prosperity.”

Considering making the switch from working as a permanent employee to a contractor? Then read our free downloadable guide to moving from permanent to contracting, you may also find our advantages and disadvantages of a Limited company page useful.

If you wish to appoint SJD as your accountants, simply complete our online Client Agreement Form or speak to a member of our New Enquiries Team who can complete the client agreement form on your behalf. Call 01442 275789 or email newbusiness@sjdaccountancy.com.

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