Whatever you’re searching for, London is certain to have it. There are several reasons why the United Kingdom’s capital has become one of the world’s most popular tourist destinations. This global town, however, is not simply adored by visitors. Every year, London welcomes an increasing number of enterprises. Here are five reasons why it’s a viable choice for any business, whether new or established. London is an ideal city for business. London ideal city for business
1. Make use of a staff that is both varied and well-trained.
It goes without saying that a city with a population of 8.1 million has a large pool of potential employees from which to draw. London’s multi-ethnicity is what sets it apart from other global cities. Black and minority ethnic (BME) people make up 41% of Londoners, compared to only 10% in the rest of the nation, according to Trust for London. When you have a diverse workforce, you’re better able to comprehend your whole client base and, as a result, do better financially.
Additionally, London’s multiethnic populace is very talented. Ask a recent English graduate from any other city or town. After earning their degrees, about a third of them head to London. As a result, 24% of inner London residents are between the ages of 25 and 34. If you’re looking to build your firm, London is a great destination to find up-and-coming, motivated employees.
2. Help from the British government is also an option
Entrepreneurs may find the United Kingdom’s London an ideal city for business. Also, an attractive place to set up shop because of the country’s strong support for small and medium-sized businesses. For example, the government-backed Start up Loans program makes claiming financial aid quite simple.
R&D tax credits, capital allowances, and subsidized internet are just a few of the tax-cutting programs available to new businesses. These and other sources of assistance may be found in London. In addition to Enterprise Centers, where low-cost workspace may be applied for, growth assistance programs and free business libraries are also available to Londoners.
3. Make new acquaintances and secure investment.
Only 205,352 new London-based companies were set up in 2016, bringing the city’s total number of businesses to about 1.1 million people. According to recent study from CBRE, the city is also the biggest technological hub in the European Union and the Middle East and North Africa. As a result, networking possibilities abound in London. In order to benefit from the collective brainpower of the community, there are several weekly gatherings and special interest groups delivering seminars. London is a great place to invest.
A record £2.45 billion was raised in 2017 by digital companies in the city, which accounts for nearly 80% of all venture capital financing in the United Kingdom. London’s tech startups have received more venture capital funding in the last two years than Paris, Berlin, and Stockholm combined. In the wake of Brexit, it’s important to remember that these numbers were achieved. As a bonus, more than half of all UK business accelerators are headquartered in London, making it the ideal location to build your firm.
4. Increase the number of people you serve.
It’s no exaggeration to claim that London’s infrastructure is among the greatest in the world, with six international airports, 10 main ground transportation hubs, and a huge, famous subterranean train system. There is no doubt that having a solid foundation is beneficial to your company.
You can easily reach millions of people in London, the United Kingdom, and across the globe with personalized service. London’s excellent location makes it a great place to live. From London, you can go to most major financial centers in the United States, Europe, and Asia in less than a day. The fact that the working day in London may overlap with those in New York, Frankfurt, Singapore, and Hong Kong is also a plus.
5. Enjoy the freedom to develop and move around in your life.
Looking for a place to call home? There are several co-working places within commuting distance in London. Do you think it’s time for a new one? As demand for office space grows, the Mayor of London’s New London Plan highlights the need of expanding the city’s supply of workspace and ensuring that low-cost company space stays available for future generations.
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London is also a great place to host customers that come to visit. From world-class museums to Michelin-starred restaurants, you’ll never run out of places to take them. If you don’t have that kind of cash lying around, you can always check out the South Bank’s newest pop-up. In addition, no matter what your budget, you will be able to find lodging in any borough.
London checks all the boxes when it comes to picking a location for a company’s headquarters. All the appropriate people, the best services, and an abundance of chances are found here. In the end, London is more than the sum of its individual pieces. Rather than merely a place to call home, New York City serves as a link to your allies across the seas. As a safety net, it keeps you from falling to the ground. You may even use it as a ladder, rising ever higher into the sky.