Glasgow is regarded as one of the best cities to start a business in Europe. There are lots of opportunities for different types of companies, with Glasgow hailed as very favourable for startups. If you are thinking about opening a business in Glasgow, here are some tips to help you out.
You Will Get a Lot of Support
Glasgow offers businesses lots of opportunities to find the support they need. For creative businesses, Glasgow’s Creative Clyde is a good place to find useful advice. It is one of 15 enterprise areas located around the Clyde waterfront, and it has been hailed as the best place to start if you want to establish a start-up in Glasgow. Creative companies can also find networking opportunities here, as well as potential partnerships and collaboration.
Finding Office Space
One advantage of starting a business in Glasgow is that it is relatively easy to find adequate office space, plus there are different types of office space to choose from. You can get services office options from companies like Stelmain or small bunker offices if your company is a bit smaller. Regardless, Stelmain will help you find the perfect office for your needs, one that your business can grow into.
Business Grants
Glasgow also has several grant opportunities available for new businesses. However, you might have to look around to find grants that will serve your business well. Although you will not have to pay back any of the grants given to your business, do note that there may be some conditions tied to the grant. Common conditions include your business being located in a specific location or creating a certain number of local jobs.
For businesses that have fewer than 250 employees, there is the West of Scotland Loan fund that offers businesses funding of up to £30,000. This funding is usually for businesses in the creative, manufacturing or construction sectors because the main goal of this fund is to grow Glasgow’s economy.
Glasgow as a City
Entrepreneurs who start a business in Glasgow will quickly discover that the city is cheaper than most other European business hubs such as London or Edinburgh. That said, property values have been rising over the past few years, so you might need to plan for that.
Glasgow is also very attractive because although it has a relatively high crime rate, the main type of crime here is vandalism rather than violent crime. Fortunately, the crime rate has been falling for years, which is promising for businesses that want to employ people who live in the area.
There are several internationally acclaimed galleries and museums in the city for a wholesome living experience. There are also event venues and theatres making the city very pleasant to live in.
Qualified Potential Hires
Glasgow is home to several prestigious universities where thousands of students graduate every year. These universities are a great resource for businesses that are looking for qualified people to fill entry and even mid-level positions.
The large student base is also a potential market for businesses with products that cater to students. Your business can also offer internship positions, where it can test out different candidates and hire the best of the bunch.
There Are Lots of Transport Options
If your business relies on logistics and a robust supply chain system, you will be glad to know that Glasgow has a robust transportation system. For trains, you have Glasgow central that takes you out of the city, which makes it easy for your employees to live elsewhere but work within the city.
As for air transport, you have the Glasgow Airport, which is located about 32 miles from the city. For other inner-city transportation needs, you have a subway and a city bus service.
Registering Your Company
As with any other city in the world, you will need to register your business before you can start operations. Depending on the type of business you want to start, you will have to register with several different organisations.
If you are a sole trader, you will need to register with the HM Revenue and Customs (HMRC), which will direct you on your business obligations and how to name the business. A limited partnership has slightly different responsibilities from sole trader businesses, and they also need a general and limited partner.
Finally, you can set up a limited liability company. This is the best option if you would like to run the business with more than two partners.
Once you have set up your business and understand your responsibilities, you will need to register to pay tax on the business. You can visit HMRC’s website to find more information on how to do that for different types of companies.
Starting a business in Glasgow is not that difficult and you will find that this is one of the best cities to do so. There is a vibrant and welcoming business environment, plus access to grants to help you get your business off the ground.
