Top reasons to establish your business in London

London, with its rich history and dynamic cultural scene, stands out as a top destination for businesses worldwide. Whether you're an entrepreneur with a new concept or an established enterprise aiming to expand, London offers various compelling reasons to set up shop.

Here are five top reasons to start a business in London:

1. Diverse and skilled workforce

London's population, exceeding 9 million, is a vibrant mix of cultures, languages, and talents. This diversity is a significant advantage for businesses, offering a broad pool of skilled professionals. With 41% of Londoners coming from black and minority ethnic backgrounds, compared to just 10% in the rest of the UK, the city's workforce brings a wealth of perspectives and ideas. This diversity fosters creativity and innovation, helping businesses to better understand and cater to a global customer base.

Moreover, London is home to numerous prestigious universities, including University College London, the London School of Economics, and Imperial College London. Many graduates from these institutions are eager to make their mark in the business world, bringing fresh ideas and a strong work ethic to their roles.

2. Robust financial and business support

The UK government provides extensive support for small and growing businesses, making London an attractive destination for entrepreneurs. Initiatives such as start up loans, R&D tax credits, and capital allowances help ease the financial burden on new businesses. Additionally, London offers numerous localised services, including Enterprise Centres that provide low-cost workspace and growth support programmes.

Business libraries and resources in London provide entrepreneurs with free access to valuable information and advice, which is crucial for navigating the challenges of starting and growing a business.

3. Networking opportunities

As a global business hub, London offers a wealth of networking opportunities. The city hosts numerous business events, conferences, and meetups, creating platforms for entrepreneurs to connect with potential investors, partners, and mentors. In 2016 alone, 205,352 new businesses were registered in London, highlighting the city's vibrant entrepreneurial ecosystem.

The technology sector is particularly robust, with London recognised as the largest tech cluster in the EMEA region. This thriving environment attracts significant venture capital, making London an ideal location for tech start-ups and innovative enterprises.

4. Excellent infrastructure and connectivity

London's world-class transport infrastructure makes it easy for businesses to connect with customers and partners both locally and globally. The city is served by six international airports and ten major ground transport hubs, including the iconic underground rail system. London's strategic position between the Americas and Asia facilitates efficient communication and travel to major financial centres.

The extensive transport network also ensures domestic connectivity, allowing businesses to reach customers across the UK with ease. This infrastructure supports efficient operations and enhances customer service.

5. Varied workspace options

London offers a wide range of workspace solutions to suit businesses of all sizes and stages. From affordable co-working spaces to premium office locations, the city provides flexible options that can scale with your business. The Mayor of London's 'New London Plan' aims to increase the availability of office space, ensuring that businesses have access to the resources they need to thrive.

Additionally, London's vibrant cultural scene and diverse entertainment options make it an excellent location for entertaining clients and hosting business events. The city's world-class museums, restaurants, and cultural attractions provide endless opportunities for networking and relationship-building.

Conclusion

Choosing a location for your business is a crucial decision, and London offers numerous advantages. Its diverse and skilled workforce, robust financial support, abundant networking opportunities, excellent infrastructure, and varied workspace options make it an unparalleled destination for businesses. Whether you're starting a new venture or expanding an existing one, London provides the ideal environment to achieve your business goals.

If you're considering moving to London to launch your business, Pickfords Business Moving can assist with all your relocation and storage needs. Contact us today to learn more about our comprehensive services.