With rising rents and a changing workplace dynamic many people may be wondering why they would still establish a business in London, but, as Vivenne Westwood once said, “There’s nowhere else like London. Nothing at all, anywhere.” So how could setting up in a place that’s like nowhere else benefit your business?
“In London, everyone is different, and that means anyone can fit in.” – Paddington Bear
With a population of over nine million people, London is home to a real mix of culture, language and talent – and a diverse workforce can be a huge benefit to your business. Different perspectives and backgrounds can bring a different level of creativity and innovation to your business, and of course, if you’d like to reach international customers, fluency in the language and knowledge of customs is a huge benefit.
The many prestigious universities in and nearby London mean that graduates often stay in town, looking for work, so you will can benefit from not only a diverse workforce, but one that has the latest education and is ready to make their mark.
A place for every business
No matter whether you’re just starting out or you’re scaling up, London offers a wide range of workspaces, with addresses which will be well known across the world. If premium office spaces are not what you’re after right now, there are affordable co-working spaces on offer too, which can mean that you can grow and create relationships with other organisations sharing the space.
The Mayor of London has also unveiled the ‘New London Plan’ which aims to increase the availability of office space. It’s hoped that this will mean that every business has a place and a space to grow and thrive.
Where conversations start
In terms of networking, conferences, business events and other information sharing sessions, London is a place like no other. Because London is home to many tech businesses, it’s also a place where ideas of tomorrow will start.
Financial support is available
Start up loans, capital allowances and R&D tax credits are available, to support businesses in setting up and growing. This can reduce some of the barriers to setting up in London. There are also different localised services on offer, sharing low-cost work spaces and growth support programmes.
It’s only up the road
While many of the buildings in London may have been around for hundreds of years, the transport network is forever changing and updating, with new underground routes introduced and many bus routes available 24 hours a day. Should your business have international clients, London also has six international airports, along with access to the Eurostar.
London has still got it
While there are some financial drawbacks to setting up in London, the benefits can more than compensate for this.
If you are thinking about moving or launching your business in London, please get in touch with us!