UK Among Most Competitive Locations For Business

The UK is the fourth most competitive international location for business, according to a new report by professional services provider KPMG.

This result comes as part of a bi-annual study of business competitiveness of over 100 cities in 10 countries around the world. Four industry sectors were also taken into account: digital services, research and development, corporate services and manufacturing.

Specifically, the UK was the second most competitive country for corporate services and came third for digital services and fourth for research and development and manufacturing.

Overall, the UK came fourth behind Mexico in first place, Canada in second, while the Netherlands narrowly beat Britain to third place.

“There is no doubt that the UK is in a hotly contested international competition for global investment,” claimed Simon Collins, KMPG’s UK chairman.

“The UK has it all; competitive costs and tax and unrivalled innovation, all wrapped up in a place where people want to live,” he added.

Tax Regime Attracting Businesses

KPMG claim one crucial factor that makes the country so attractive to international enterprises is the tax regime.

“When looking at effective corporation tax rates, the UK is ranked first for manufacturing and corporate services,” claimed Chris Morgan, UK head of tax policy at the firm.

“The attractiveness of a country’s tax regime should not be under-estimated. Our research also shows that tax typically represents up to 14% of location-sensitive costs; an important reminder to policy makers,” he added.

The other countries included in the study were France, Germany, Italy, Japan, the US and Australia.

© 24N.biz