The single entity that is the United Kingdom brings together a diverse range of business cultures under one flag.
Differences – such as a separate legal system in Scotland, physical separation for Northern Ireland, and bilingual signage in Wales – are acknowledged and even celebrated within the one-nation philosophy. The question for investors into the UK is how significant those differences are.
“The only time country becomes an issue from an investment perspective is if there is a political risk associated with that country,” says David Haynes, senior investment director at Cushman & Wakefield. The spectre of an independent Scotland might be expected to be one such issue, but appears to have had remarkably little impact on investors based outside the UK.
Although the constituent parts of the UK have broadly similar economies and markets, they retain…