Digital media: grow your business in the UK
- digitally savvy workforce
- growing digital economy
- opportunities for growth across the industry
Digital media: at a glance
If you have a great digital product or service you’ll be welcomed here. UK consumers have a huge appetite for new digital services, devices and creative offerings.
Our world-class creative production services and digital technologies are driving a fast growing market of global importance.
Technology has transformed the creative scene and the growing digital economy allows businesses to set up easily and expand globally, from London and other UK digital centres.
Opportunities for growth
The UK is home to the world’s biggest online spenders. We’re a nation of established internet users and early adopters, with over 64% of households having 3 or more internet enabled devices.
The UK government is aiming for 100 per cent of homes and businesses to have access to affordable, fast and reliable broadband by 2020. Current coverage is already higher than France, Germany, Italy and Spain.
The sector saw Gross Value Added (GVA) of all digital tech in the UK grow by 27% between 2010 and 2014, with GVA for 2014 reaching 87 billion GBP.
The UK is Europe’s largest mobile content market, with over 1 billion GBP spent on mobile applications, content and services each year.
Other growth opportunities include:
- social media - Britons are amongst the biggest users of social networks in Europe
- digital radio and TV – the UK has one of the world’s largest digital radio networks, and 97% of UK homes have digital TV
- innovative tech in production and art – for example sensors and motion capture in film
- digital music – accounted for 54% of all music consumption in 2015
A 2015 World Economic Forum report cites the UK as one of the best environments in the world for informations and communications technology (ICT) development.
UK government support
Our help for early stage innovation and research and development (R&D) is second to none. You can take advantage of a number of tax incentives to develop and innovate here, including:
- Seed Enterprise Investment Scheme – a model for tax efficient investment at the seed and angel phase which is attracting new investors into the technology and start up environment
- The Patent Box enables companies to apply a lower rate of Corporation Tax to profits earned from its patented inventions
- research and development (R&D) tax credits – small and medium sized companies can write R&D investment off against tax to a rate of 230%
The government has invested more than 200 million GBP in a network of Technology and Innovation Centres supporting the commercialisation of new technologies by business. Innovate UK, the UK’s innovation support agency, invests in R&D related to strategic sector development targets.
We also offer a number of world-class digital start-up programmes and opportunities for angel investment. All of these measures complement our low level of corporation tax, which is set to drop to 17% by 2020.
The government also has up to 50 billion GBP available to support finance and insurance for supplies from within the UK to buyers outside the UK. This support takes the form of guarantees, insurance and loans issued by its export credit agency, UK Export Finance.
We can help you grow your business in the UK
Whether you’ve already decided to grow your business here or you’re just starting your research, the UK government can help you make the right decision.
Research your industry
You should research your market to help you decide if the UK is the best place for your business. Contact our Investment Services Team to get market research and other expert help and advice.
Want to move your business to the UK?
You’ll need to follow several steps before moving to the UK, including applying for visas and finding the ideal location for your business. Read our UK setup guide.
The UK government can give you free help and support every step of the way. Contact us to find out more.