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United Kingdom: Operating a Business

Setting Up a Company | Working Conditions | Cost of Labor | Social Partners

Setting Up a Company

Legal Business Entities

Types of Companies and Capital (Max/Min)	Number of Partners/Shareholders and Liability
Private Limited Company (Ltd) No minimum. In practice, the minimum subscribed is GBP 1. Totality of the capital must be released.	No minimum Liability is limited to the amount contributed.
Public Limited Company (Plc) Minimum GBP 50,000 totally subscribed, obligation to release 25% at the constitution.	No minimum Liability is limited to the amount contributed.
Partnership No minimum capital.	At least two partners Partners' liability is joint and indefinite
Limited Partnership No minimum capital.	At least two partners Liability is limited.
Unlimited Company No minimum capital.	No minimum. Partners' liability is joint and several

The Competent Organization: Companies House
Search a Company or a Financial Report: Companies House website

Setting Up a Company	United Kingdom	OECD
Procedures (number)	6.0	5.6
Time (days)	13.0	13.8

Source: Doing Business.

Business Setup Procedures: Consult Doing Business Website, to know about procedures to start a Business in United Kingdom.
Trade Register

Working Conditions

Legal Weekly Duration: 48 hours
Retirement Age: 60 for women and 65 for men.
Working Contracts: Legal clauses regulate employment contracts and to a lesser degree collective agreements and individual negotiations.

Cost of Labor

Minimum Wage: EUR 1,105
Average Wage: Average weekly gross earnings is GBP 457 (EUR 534).
Social contributions: Social Security Contributions Paid By Employers: 12.8%
Social Security Contributions Paid By Employees: 11%

Social Partners

Social Dialogue and Involvement of Social Partners: The following confederations can be listed : TUC ( TRADE UNION CONGRESS), Amicus, STUC ( THE SCOTTISH TRADE UNION CONGRESS) and Wales TUC.
Unions: TUC
STUC
Wales TUC
Amicus.
Unionization Rate: 26 %
Labor Regulation Bodies: Department for Work and Pensions

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Learn more about Operating a Business in the United Kingdom on Globaltrade.net, the Directory for International Trade Services.

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Last Updates: January 2012