This article tells you about Business Leaders – United Kingdom. The United Kingdom is a county that is both diverse and unique. While it does participate on an international level in the economy of the world, it also has a very strong interest in its national economy. This country is one of the four in Europe that have economies that are over a trillion dollars a year. Yes, you heard that correctly, the United Kingdom’s economy is worth over one trillion dollars a year. There are several large industries that are based in the United Kingdom. One of the largest is actually food production.
The United Kingdom is not only largely into food, but they are efficient in producing it. They produce over 60% of what the entire country needs to eat with less than 2% of the workers available in the country. The United Kingdom is also heavily into the financial services and financial management industry. While this was great when the world was bustling and booming, it has hit the area extremely hard in the past two years. This has caused another mini recession across the country, and many people are facing mounting debt.
While there is a lot of industry in the United Kingdom, there are some major corporations that make it possible. British Petroleum is a company that is known to drivers worldwide. They produce a large amount of energy, not just in the United Kingdom but also in the United States and many other areas of the world. Interestingly enough, Britain has only recently had to begin to import their energy.
Before just a few short years ago, they were able to provide all of their energy needs within the country. Another major corporation is HSBC. They are a huge player when it comes to banking and other financial services. They operate in many other countries around the world and have partnerships that allow residents of the United Kingdom to easily access their money when traveling.
Taxes are rather high in the United Kingdom, due to a very intense government. It can take a longer amount of time to open up any type of business due to forms and fees having to be paid to the government. Overall, the cost of living in the United Kingdom is one of the highest in Europe – for businesses that means high overhead, for households and home owners, expensive mortgage and remortgage rates. This is partially due to the country choosing to use its own currency, the British Pound instead of the Euro. However, it can also be attributed to the high taxes on its residents. The large corporations within the United Kingdom do pay a fairly large portion of the taxes.