Opportunities for Spanish companies in the UK

Strong points

• Wide-ranging network of infrastructures via air, land and sea, with good access to the European market.
• European and international financial centre. 43% of the headquarters of new companies looking for international expansion are located in the UK.
• The UK government is creating the most competitive tax regime for companies in the whole G20.
• Geographical proximity: from 2 to 2.5 hours’ flight from Madrid / Barcelona/Bilbao – London/ Birmingham/Manchester.
• Political stability.
• The UK is the sixth largest importer worldwide and the world’s eleventh largest exporter.
• Large supply of skilled labour.

Weaknesses

• Due to the large number of companies established in the United Kingdom, there is a great deal of competition to get onto the market.
• The fact that the UK does not belong to the Monetary Union of the EU forces foreign companies to work with pounds sterling, which may generate exchange rate costs.
• Great influence of the financial sector in the GDP.

Investments

• Civil engineering, modernisation and extension of infrastructures.
• Transport and logistics services, engineering and consulting.
• Manufacturing companies.
• Renewable energies (eolic, solar photovoltaic).
• Over 300 subsidiaries of Spanish companies exist in the United Kingdom.

Prospects

• Stable country
• Downward reviews of projections for economic growth

Banco Sabadell in the United Kingdom

Experience

The first Banco Sabadell representative office in the UK was set up in London in 1978, and became an operating branch in January 1986, nearly a decade later. Banco Sabadell in the UK has been providing financial support for Spanish companies with offices and/or commercial interests in the country, offering its knowledge and experience of the British market.
The office covers the entire country and places the service of its professional team of experts at the disposal of customers

Services

• Opening of business accounts: the account holder can be a Spanish or British company or from other countries.
• Current account and deposit in pounds sterling or multi-currency (euros, USD, etc.).
• International transfers and reception of payments.
• Foreign trade operations (documentary letters of credit, remittances, etc..).
• Domestic/international guarantees /sureties.
• Electronic banking over the bank’s own website.
• Treasury management.
• Project and structured finance.