London is at the heart of British business, so whether you are a seasoned business owner branching out or a budding entrepreneur, it makes sense to base your new venture here. With its countless business opportunities and thriving economy, the capital is well suited to business owners with the right strategies to expand their organisations.
Thanks to business-friendly policies, low tax RATES, and easy access to international markets, a third of the UK business population can be found in London, including 1000 million SMEs. Here are the top three reasons entrepreneurs should set up their business in London.
Business Growth Opportunities
London is home to the City of London, a major financial centre, and offers some of the best job prospects in the country which is why many people choose to relocate here. A major hub for finance, manufacturing, and technology, a start-up or expanding business is exposed to new customers of all different backgrounds, including tourists and international communities.
This allows your business to expand into new markets and demographics to develop your offering and client base. Organisations can collaborate with like-minded professionals and global corporations.
The flexible employment laws and corporate tax laws also make an ideal environment for business expansion. Not to mention, the accessible gains tax relief and UK government incentives for conducting business in the city.
Transport
The sheer size of the city means there is greater potential for business connections and networking but access is key.
The transport links in London are second to none, moving to the city safe and efficient. Alongside the tube and bus network, the cycleways successfully connect communities, businesses, and destinations across London. This is invaluable for your business’s ability to network and make essential connections with nearby investors and partners.
A developed transport network is ideal for a new business as it brings your enterprise closer to supply chains and encourages businesses to locate closer to each other. In turn, this increases the concentration of business economies which boosts productivity and performance. Not only that, working with same-day couriers in London is stress-free so you can move products without hassle.
Talented Workforce
With better growth opportunities, comes a more talented and diverse workforce. London attracts potential candidates from around the world, ensuring that your growing business can acquire skilled talent that can benefit your services.
When recruiting in the capital, you have a more diverse pool of candidates to choose from, including university students, graduates, and accomplished professionals.
Your competition will be fierce though, so you need to employ the right recruitment techniques to secure the most suitable staff. You don’t want a competitor to beat you to punch and poach talent from your business.
Photo credits: Coworking London