The United Kingdom is a nation of cultural and ethnic diversity consisting of four countries each with a clear identity:- England, Scotland, Wales and Northern Ireland.
Key characteristics of the UK include a stable government, constitutional monarchy headed by parliament, dependence on international trade, a large consumer market with a high standard of living and an educated workforce. Despite the possibilities that by the end of 2018 the UK is forecasted to slip into 6th position, the UK currently still remains as the 5th most important global economic power. The UK is a multi-cultural society and is thus tolerant and receptive to different cultures on all facets including social, political, economic and business level. Current population estimate stands at 65.6 million.
Some main advantages for Finnish SME companies wishing to do business in the UK include no major language barriers, an acceptance of Finnish products in the UK related to a good perception of Finnish innovation, design and quality. Opportunities for doing business in the UK are numerous in a wide range of industry/service sectors and most commonly for Finnish SMEs within specialist niche product/market applications.
Business mentality and content is important in British business culture and, on the latter, detailed information about a company’s experience, results, financial status & organisation are paramount. It is possible to develop both long-term business and personal relationships between Finnish and UK counterparts due to synergy in mindset.
Knowledge and appreciation of the basic cultural, ethical and business values of the UK is crucial to any company wishing to conduct business in such a varied yet traditional country.