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flag United Kingdom United Kingdom: Operating a Business

In this page: Setting Up a Company | The Active Population in Figures | Working Conditions | Cost of Labor | Social Partners

 

Setting Up a Company

Private Limited Company (Ltd)
Number of partners: One or more partners.
Capital (max/min): No minimum. In practice, the minimum subscribed is GBP 1. Totality of the capital must be released.
Shareholders and liability: Liability is limited to the amount contributed.
Public Limited Company (Plc)
Number of partners: One or more partners.
Capital (max/min): Minimum GBP 50,000 totally subscribed, obligation to release 25% at the constitution.
Shareholders and liability: Liability is limited to the amount contributed.
Partnership
Number of partners: At least two partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Partners' liability is joint and indefinite.
Limited Partnership
Number of partners: At least two partners.
Capital (max/min): No minimum capital.
Shareholders and liability: Liability is limited.
Unlimited Company
Number of partners: No minimum.
Capital (max/min): No minimum capital.
Shareholders and liability: 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 5.0
Time (days) 13.0 12.0

Source: Doing Business.

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

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The Active Population in Figures

201120122013
Labor force 31,720,00031,900,00030,150,000

Source: CIA - The world factbook

 
200920102011
Total activity rate -62.20%61.90%
Men activity rate 69.50%68.60%68.50%
Women activity rate 55.30%55.50%55.60%

Source: UN - United Nations

 
Employed Persons, by Occupation (% of Total Labor Force) 2008
Health and Social Work 12.4%
Real Estate, Renting and Business Activities 12.2%
Manufacturing 12.0%
Education 9.1%
Construction 8.1%
Transport and Storage 6.7%
Hotels and Restaurants 4.4%
Agriculture, Hunting and Forestry 1.4%
Electricity, Gas and Water Supply 0.7%
Households with Employed Persons 0.5%
Mining and Quarrying 0.4%

Source: International Labor Organization (ILO)

 
For Further Statistics
National statistics

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Working Conditions

Legal Weekly Duration
48 hours
Retirement Age
60 for women and 65 for men (66 for all by 2020).
Working Contracts
Legal clauses regulate employment contracts and to a lesser degree collective agreements and individual negotiations.
Labor Laws
Consult Doing Business Website, to obtain a summary of the labor regulations that apply to local entreprises.

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Cost of Labor

Minimum Wage
GBP 1,053 per month (source: ILO, 2011).
Average Wage
Gross average monthly wage of men: GBP 2,591 (source: ILO, 2011);
Gross average monthly wage of women: GBP 1,653 (source: ILO, 2011).
Social contributions
Social Security Contributions Paid By Employers: 12.8%
Social Security Contributions Paid By Employees: 11%

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Social Partners

Social Dialogue and Involvement of Social Partners
Union membership has been relatively stable in the past few years, although the trend has been slightly downward over the past decade. About 20 percent of full time UK employees belong to a union, a low proportion by UK historical standards. Public-sector workers have a much higher share of union members (60%) while the private sector is about 15%. Manufacturing, transport, and distribution trades are highly unionized. Unionization of the workforce in the UK is prohibited only in the armed forces, public-sector security services, and police forces.

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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Last Updates: February 2015