Why Tech Entrepreneurs Go Global from the UK
Updated: Jun 13, 2022
The UK has long been considered one of the best places in Europe to be a tech entrepreneur. The country's global reach, diversity, and tech-friendly environment; all make it an ideal location for entrepreneurs looking for success in today's fast-moving international marketplace.
Entrepreneurs can set up their base here and use the numerous advantages we have to offer when it comes to building a business.
In this article, we'll discuss why UK tech entrepreneurs often choose to go global from here and how they can achieve their goal of operating around the world while maintaining a presence in this welcoming environment.
Every UK Accelerator and Incubator
The UK is one of the best places in Europe to be a tech entrepreneur.
The UK has a lot going for it as a place to be a tech entrepreneur. The country has a good infrastructure for entrepreneurs, with excellent access to talent and money. It also has a regulatory environment that's conducive to innovation, as well as one of the best tax environments in Europe. There are plenty of angel investors willing to take risks on small companies—and they're able to do so thanks to government incentives like SEIS and EIS investments (see below).
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The UK is home to some of Europe's most successful tech companies. For example:
Facebook—was founded in 2004 by Mark Zuckerberg at Harvard University
LinkedIn—founded in 2002 by Reid Hoffman at Stanford University
eBay—founded in 1995 by Pierre Omidyar while he was working at Claris Corporation
UK tech entrepreneurs go global because they can.
It's for these reasons that people in the UK go global:
They can. The UK has a strong economy, with a highly educated workforce and a well-defined legal framework for business. It also has a solid financial sector, making it easy for tech entrepreneurs to raise capital when needed.
They want to (or are told they need to). As more technology companies reach scale, investors expect them to expand internationally quickly. In order of importance, reasons include access to new markets (such as China), higher growth rates at home versus abroad (in markets such as the US and Germany), expertise in your industry sector or niche market size within countries outside Europe or North America where English may not be spoken widely enough yet.
https://www.great.gov.uk/advice/ - Provide advice on the exporting
https://www.great.gov.uk/markets/ - Discover new markets for your business
https://www.great.gov.uk/services/ - Additional services that DIT offer to support their export journey
https://www.great.gov.uk/get-finance/ - Advice/guidance on UK export credit agency
The UK has many positive reasons for being a base to start up a global business. The British workforce is highly skilled, making hiring the right people more straightforward.
The British reputation for finance and innovation also means that startups are able to access funding more easily than in other countries and can also be confident their company will be taken seriously by investors when looking at overseas markets.
UK universities have great reputations worldwide, meaning that graduates can move on easily into well-paid careers after university (or before if they so wish).
Every UK Angel and VC Group and What They Do and Contact Details
http://www.betterbusinessfinance.co.uk/finance/ - Search finance and grants
https://www.liberis.co.uk/quote/gov Alternative funding
https://www.alternativebusinessfunding.co.uk/ - Alternative funding source
https://www.gov.uk/business-finance-support?page=2 – for business funding for your region
https://crackit.org.uk/crack-it-challenges - funds for science-led innovations
https://www.fairfinance.org.uk/business-loans/ - business loans for those refused elsewhere
https://www.fundingcircle.com/uk/businesses - Peer to Peer funding, unsecured loans
http://www.socentxchange.net/ - Social Enterprise Grants
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Alpesh Patel OBE