An entrepreneurial outlook on the UK

HSBC Global Private Bank spoke to over 3000 entrepreneurs, including more than 400 in the UK, about their outlook on the UK and found that technology and AI are huge drivers in both the home-grown optimism but also what’s driving interest from outside the UK.

A robust legal framework, world-class education and the cultural and social activities on offer create personal and business draws. And the confidence needed to build and grow your own business runs strong for these entrepreneurs.

95%

of entrepreneurs in the UK believe their personal wealth will get better in the coming few years.

They are also optimistic about their business prospects, with 98% feeling positive about their current business outlook. And the wealthier the entrepreneur, the more positive they are about both their business and personal wealth.

73%

of entrepreneurs in the UK cite technology or AI as the leading reason for their business positivity.

Entrepreneurs in the UK lead their surveyed peers from other markets in viewing tech or AI as a growth driver, including those in both the US and mainland China. They also lead globally in planning to increase their investments in AI over the coming year.

60%

of surveyed entrepreneurs are interested in conducting business in the UK over the coming 12 months.

Entrepreneurs from India, Malaysia, Saudi Arabia and the UAE are the most interested in the UK, underlying the geographical diversity of the UK’s business corridors.

39%

of global entrepreneurs cite advanced tech as their main reason for planning to diversify to the UK

Access to new sources of capital and professional services are not far behind. This indicates the strength of both the UK’s tech and service sectors, plus the supportive infrastructure which underpin them including an independent judiciary and freedom of speech.

60%

of the entrepreneurs planning to move to the UK are doing so to gain access to new investments

Entrepreneurs from Malaysia, the UAE, India, and Saudi Arabia are keenest to move personally to the UK. Other reasons include wanting to expand their business (52%) and enjoy a better quality of life (48%).

43%

of entrepreneurs planning to invest in the UK want to make it either their main or secondary residency

A further 33% who plan to move their wealth to the UK already have a secondary residency, while 24% want to move wealth without becoming resident. Overall, the UK is the second most favoured location that surveyed entrepreneurs plan to personally move to over the coming 12 months

9%

of entrepreneurs in the UK are considering moving or taking an additional residence abroad in the next 12 months to be more tax efficient with their wealth

Entrepreneurs in the UK are less likely to be planning to leave their home market for tax reasons than the global average (18%).