THE UK MADE EASY
| The Aim
The UK ranks as one of the best locations for businesses looking to expand internationally. Starting a business in the UK can be challenging, but with the right set of tools and knowledge, it is a great place for business opportunities. The global environment, language, ease of doing business, and strong market potential is of particular interest for overseas companies starting up in the UK.
Goodwille specialises in helping Nordic businesses establish in the UK.
“Our aim is to take care of all the non-core business activities for a company when setting up in the UK. Consequently, the company can focus on its core activities without unnecessary distractions. ”
Goodwille provide a flexible range of services that can be particularly useful for Nordic companies looking to expand to the UK market spanning Corporate Governance, Finance, HR, Payroll and VirtualOffices.
A typical journey for a Nordic business setting up in the UK
As an official partner of Nordic Startup Awards for many years, Goodwille was again, excited to crown the ‘Founder of the Year’ and celebrate the best startups and entrepreneurs in this year’s NSAward finale in Reykjavik part of Iceland Innovation Week. Now we are looking forward to the Global Startup Awards Finale in 2024.
Goodwille are helping over 500 Nordic owned businesses to run compliant and efficient UK operations. Many of them, Nordic Startup Award winners and finalists, like the ‘Nordic Startup Up Of the Year’ 2020, fin-tech business, Pleo. We all know that NSAwards showcase the most exciting and fast-growing companies, often, these are looking at scaling internationally - that is where the close partnership with Goodwille comes in.
Company formation
Goodwille can help establish a UK Branch or incorporate a UK Limited Company (subsidiary) for the Nordic business. The company structure most suitable will depend on the type of business, but more often than not, a Subsidiary company is the most favourable option. Furthermore, Goodwille will register the company for VAT and mandatory corporate insurances to comply with UK regulations.
Appoint Goodwille as company secretary
To make sure the UK company’s administration is in safe hands it can appoint Goodwille as the Company Secretary. Our qualified experts will keep the business fully compliant with UK regulatory and compliance requirements and ensure that any decisions made by the board of directors get implemented, this reduces associated risks and time for key stakeholders. Appointing Goodwille as a company secretary will also include a mandatorily registered address.
Challenges around business bank account in the UK
Opening a business bank account is one of the most difficult and time-consuming steps in the expansion journey. Banks in the UK are risk averse, and if the goodwille.com Director(s) of the entity is based in home market, they may reject any generic applications made online. However, with Goodwille’s strong relationships with some of the UK’s and Nordic’s leading banks, we can support businesses to open their bank account quicker and more efficiently than if they were to do it alone.
Goodwille’s Finance and Accounting Services
Our Finance department acts as an in-house finance department for the UK company and ensure it meets all UK regulatory and reporting obligations from the start. We can provide a full level of support covering, bookkeeping, VAT returns, financial reporting, budgeting and forecasting. We can also provide advice through partners on funding options, such as grants and loans if required.
HR & People Matters
Goodwille can provide support for companies with HR and people-related matters. This can include assistance with employee contracts, salary benchmarking, as well as guidance on UK employment laws and regulations. In addition, setting up employee benefits, mandatory pensions and provide ongoing general HR support as needed should employee related issues arise. Lastly, through our network of recruitment partners, we can make introductions suitable industry and role specific recruiters.
Sponsorship/Right to Work
Goodwille can help companies with Right to Work checks, which are a legal requirement in the UK to ensure that employees have the right to work in the UK. If there is a requirement to hire non-UK nationals, we can support with applying for a sponsorship license, along with Certificate of Sponsorship for specific roles.
If you are a startup looking to enter, grow or scale in the UK. Please do not hesitate to reach out to James Service to discuss your UK opportunities.
Goodwille and The Founder of The Year Category
Goodwille has been sponsoring the Founder of They Year Category in the Nordics since 2018, demonstrating a commitment to supporting the ecosystem and the founders across the five countries in the region.
Throughout the partnership with Nordic Startup Awards, the competition witnessed great minds that founded and co-founded great innovative solutions as they were invited to one stage to showcase and reward their hard work and commitment.