1. Innovative 2. Reach of 3. Regulatory 4. Access to 5. Resilient business Our global offer to business: ecosystem 昀椀nancial activity environment talent and skills infrastructure London and the UK’s competitive 17 strengths supporting economic growth legal and regulatory uncertainty a昀昀ecting global decision-makers 3.3 Market access post-Brexit. The UK has stringent checks in place to combat fraud and money laundering which, while they slow down some international The UK remains one of the most open and global 昀椀nancial centres with fewer business operations, provide critical restrictions on companies than those based in the US, France, or Japan. It’s considered peace of mind and risk mitigation. one of the least complex jurisdictions to operate from. However, future growth is Source dependent on international trade opportunities: trade agreements and alignment of TMF Group 2023 standards are key in retaining the UK’s position as an international 昀椀nance hub. The UK is the least restrictive GFC for movement of capital and people. The international 昀椀nance industry is built on liquidity; without movement The UK is one of the most business- of capital and people trade is friendly markets in the world. strangled. The annual Economic The UK has one of the least complex Freedom of the World report business environments in the world describes the UK as a centre that with Netherlands and Hong Kong is open for international business. the only large economies considered Based on an assessment of the easier places to open a business. country’s restrictions on foreign New businesses can easily set up ownership and investment, capital here and bene昀椀t from a business- controls, and the freedom of friendly ecosystem compared to foreigners to visit for short-term other GFCs; the UK ranks second business purposes, the UK is more behind Hong Kong, the US ranks open than all other GFCs. The UK’s 11th, and Singapore 20th. France is openness dropped in the wake of Vision for Economic Growth ranked as the most complex market Brexit as the movement of people in the world to set up and run a was restricted, but this has now business due to its in昀氀exible working been recti昀椀ed. Big move: Big move: practices, strict employment laws and Source Showcase the UK’s FPS 昀椀rms Create innovative networks complexity arising from fast adoption like never before through the across the world. The UK should of international legislation. Fraser Institute 2023 creation of an FPS Knowledge and 昀氀ip its trade policy to focus on The UK improved its ranking in 2023 Support Hub. The international services, as much as goods. as new legislation and a more stable promotion of the UK’s 昀椀nancial Trade negotiators should use government helped to temper the industry relies on a network of the full “trade toolbox” including promotion agencies at home and digital and, where appropriate, #2 abroad. With targeted support, mutual recognition agreements these organisations could have of professional quali昀椀cations or The UK is the second far stronger impact. regulatory frameworks. most business-friendly George Best Belfast City Airport global 昀椀nancial centre