The London wall

A recent study from The Entrepreneurs Network – a think tank and the Secretariat of the APPG for Entrepreneurship, the All Party Parliamentary Group for Entrepreneurship set up to encourage, support and promote entrepreneurship – states that immigrants have helped shape Silicon Valley and London. In the UK, almost 4 out of 10 rapidly growing businesses, particularly in London, have been started by people from other countries.

However, it has become challenging to move between the UK and Europe after Brexit. While the government has supported larger companies, it has made things difficult for smaller ones aiming to innovate. Indeed, new regulations have set the minimum salary for workers to qualify for a visa in the UK at £38,700 per year.

THE BILLION-POUND QUESTION

So, the question arises whether the UK is still a good place to establish new businesses, given that the current regulations might make other countries more appealing. As Marie Le Conte points out in The New European: “Will all those future entrepreneurs and their ilk really choose to move here, especially once they’ve made it? There are many other countries out there, with cheaper rents, better salaries and nicer weather. Britain has decided to become pickier, but seems to have forgotten that both sides can play that game. Will the UK still really deserve the people it seeks to attract?”

👉 Find out more here.

Cover image: pixabay.com

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• Source: https://thisisoliver.co/2023/12/12/the-london-wall/