Why London is a Great Place to Start Up a Business

Photo by CC user Barnyz on Flickr.

London is one of the world’s most famous cities and as such it is also a major business capital that continues to attract new investors. With a reputation as a world-leading enterprise capital, London is a great place to start up a new business. 2015 statistics indicate that London hosted no fewer than 400,000 micro business ventures and start-ups in that year.

London’s infrastructure makes getting around and accessing facilities easy, despite the dense population and volume of traffic. Public transport and services are well established in all areas.

Already well known for its manufacturing businesses East London is home to investment in the Stratford Olympic Park – home to the 2012 Olympic Games – in a venture designed to turn the area into a world-leading center for digital as well as creative business. Investment is said to ultimately total £1bn. The venture is projected to be operating by 2018, offering a major opportunity for new business to get in on one of the most exciting new developments in decades. Backed by Boris Johnson, former Lord Mayor of London and iCity the project is well under way and is expected to attract thousands of new workers. East London is also receiving a £400m regeneration grant.

The square mile that constitutes the City of London forms, together with New York, the financial capital of the world. Despite the enormity of its reputation, the City has seen not just big business but smaller start-ups in the financial technology (fintech) arena gravitating to the area. Statistics demonstrate that there are over 13,000 micro businesses (employing up to only 9 people) in the City of London. Advice and support structures for new businesses in the City are huge with a full range of initiatives, offering advice and support. For financial help there are projects run in conjunction with the City of London Corporation.

Any new business looking to get started, regardless of its location, will need to ensure that its working office is properly equipped. Finding the right deal is easily assisted by searching office supplies London and getting some quotes.

Central London has a reputation as the well-established center for business and financial services, but small businesses are also heading there. Famous boroughs within the area such as Kensington, Chelsea, Westminster, Lambeth and Tower Hamlets are household names. The 2017 Crossrail initiative is expected to increase the number of visitors and workers in the area by millions.

West London has become identified as the home of media and creative as well as technical and product businesses. The famous area of Richmond has become home to over 5,000 major businesses such as Kodak and eBay. West London also has the highest concentration of shops in London.

South London has seen one of the highest numbers of micro-business ventures in London. The South includes Croydon which has become known as Croydon Tech City, and 92.5% of business growth is in the micro sector.

Whatever the area, London is a great place to launch a business.