Australian companies invited to explore business opportunities in the UK

The UK’s lead body for trade and investment is calling for Australian companies to explore the plethora of business opportunities available to them in the UK market.

Richard Morris, Director General of UK Trade & Investment (UKTI) in Australia and New Zealand, says there are a number of factors which make the UK an attractive business destination even in the face of a potential global economic downturn.

“The UK is recovering from the biggest financial crisis for generations and a recession which drew in most of the world, the UK included, but the fact the UK is the second most popular market for Australian companies to invest in shows it remains a big draw for internationally minded businesses.

“Australian companies are finding success in many different industry sectors,” Mr Morris said.

"We believe the Government’s increase in R&D Tax credits and reduction in corporation tax is one reason for this trend.

“The UK’s high credit rating and its low borrowing costs as well as its continued popularity as a destination for foreign investment and its strong economic fundamentals are all contributing to a positive environment for Australian companies to do business.

“Over the past year businesses have invested £119 billion across the economy, up £3 billion on the year before,” he added. “Our message is clear, Britain is open for business.”

UKTI is running a competition for Australian and New Zealand companies to expand to the UK.

Three Australian companies and one New Zealand company will win business support packages worth over $25,000 to kick start their UK expansion plans.

Entries are open for companies to submit their business plans online with close of entries on Friday 17 February 2012.

The Go UK prize packages include:

• Return business class airfares to London with British Airways
• Business registration and accounting support from Kevin Beare & Co. Chartered Accountants
• CEO level introductions to potential customers, partners and thought leaders from Alan MacKelworth & Co Ltd

This is the second year running that UKTI has held a competition for Australian and New Zealand companies to expand to the UK. A similar initiative, UK Market Entry (UKME) competition, was run last year and attracted 95 entrants in Australia and 60 entrants in New Zealand.

To enter the Go UK competition click here