Talk Business has released its list of top cities for business and investment, Based on factors such as tax incentives and government funded schemes, the list identifies international hot spots for innovation across a range of industries.
Unsurprisingly, London muscled its way into the top 5. Talk Business cited the UK’S R&D tax incentives for companies that innovate. Start-up companies are predicted to secure £1 billion in funding by the end of 2015 alone. The R&D tax incentives scheme play a large part in the appeal of London as an operating base for dynamic international companies, as well as being a breeding ground for new talent. With R&D tax credit rebates giving innovation companies a very welcome cash rebate on corporation tax, is easy to see why London is at the forefront of innovation.
It’s not just start ups though that benefit, as evidenced by huge investment in the British capital by established giants such as Google, Microsoft and Amazon. The importance of R&D tax credits to the success of companies in the UK cannot be overstated. It adds vital cash to the bottom line of all kinds of companies across a range of sectors. Swanson Reed is proud to play its part in their success, contributing to the innovation culture that drives the 21st Century economy that creates jobs and wealth. Swanson Reed, the UK’s leading R&D tax credit consultancy, has secured tens of millions of pounds thanks to its expert team of tax accountants.
Talk Business also cited the importance of Entrepreneurs relief and the Temporary National Insurance holiday as contributing factor to Britain’s status as a business friendly nation.
Despite facing stiff competition from business friendly cities like Stockholm, Munich and Tallinn, London is set for a bright innovation rich future where companies are given the space to thrive and flourish.
Whilst the burgeoning tech industry in Shoreditch, for example, has a way to go to rival Silicon Valley, Talk Business acknowledges its relevance – specifically a business culture that incorporates a new lifestyle and social view, one confluent with the 21st Century where business meets creativity, individuality and personal freedom. And that is truly something to behold.