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UK companies are one the cheapest and most flexible of companies within the European Union. For this reason, thousands of business leaders all over Europe don't think about incorporating a local company, but do all their local business through a British company.
The capital, London, is a major financial centre for international business and commerce and is one of four "command centres" for the global economy (along with New York City, Paris and Tokyo). The UK economy had been one of the strongest EU economies in terms of inflation, interest rates and unemployment, all of which remained relatively low until the 2008-09 recession
An important component of Engineering and allied industries is electronics, audio and optical equipment, with the UK having a broad base of domestic firms, alongside a number of foreign firms manufacturing a wide range of TV, radio and communications products, scientific and optical instruments, electrical machinery and office machinery and computers.
“Within manufacturing, British firms and industries have often lagged behind their overseas competitors in terms of productivity and various other key performance measures. However, Britain the birthplace of the Industrial Revolution – continues to be one of the most attractive countries in the world for direct foreign industrial investment.”
Several other major UK cities have large financial sectors and related services, most notably Leeds, which is now the UK's largest centre for business and financial services outside London, and the largest legal centre outside London, as well as Edinburgh, the eleventh largest banking centre in Europe and home to the Royal Bank of Scotland, HSBC and Standard Life Insurance. The Blue Book 2006 reports that this industry added gross value of £86,145 million to the UK economy before adjustment of financial services valued at £50,165 million in 2004.
