Whatever your industry, London’s business profile is hard to rival with a booming entrepreneurial culture and support network providing the ideal conditions for any ambitious start-up. Here are just a handful of reasons why London makes the perfect location for New and Growing Companies:
London’s Silicon Roundabout is fast becoming a very real contender to Silicon Valley for the label of global tech hub. According to a report from Tech City UK, around one-sixth of the 1.46 million people employed in digital firms across the country are located in the capital and there’s a reason for that – its infrastructure.
The capital’s corporate tech base is something to behold. Many of the world’s leading tech giants such as Facebook, Google, Amazon and Microsoft have a London location, while fast-growing smaller companies such as Skyscanner, Badoo and Mind Candy are living proof that London’s tech hub is a breeding ground for innovation. The Chancellor’s £1bn investment in the UK’s digital infrastructure – announced in the Autumn Statement 2016 – can only further strengthen London’s tech capabilities.
Vast talent pool
New and Growing Companies based in London are in a supremely strong position to recruit from an ever-growing pool of young talent. The city remains a melting pot of knowledge and expertise of people from all over the world, which gives start-ups the ability to scale-up their operations and call upon hard-working, skilled potential employees.
London is home to four of the world’s top 40 universities, according to the Times Higher Education, so there is a wealth of talent out there capable of helping you take your business forward.
Not only does London have a varied array of talent, there is something energising about the entrepreneurial culture that exists within the capital. There is a genuine appreciation for entrepreneurs who take risks and try something different. London boasts a wealth of start-up incubators and accelerators, as well as co-working space, and it’s this network and support which is helping London’s start-up ecosystem grow faster than any like-for-like ecosystem in Europe and the United States.
Secure business investment
The UK Chancellor confirmed he plans to pump £400m of venture capital funds into the British Business Bank, which supports the UK’s growing companies. This is great news for New and Growing Companies looking to scale that have struggled to secure access to finance through traditional means such as high street banks and lenders.
There’s no shortage of networks out there to give London businesses the guidance and support they need to create and execute a funding strategy. For instance, all Workspace customers have free and exclusive access to Informed Funding – an online and offline information portal designed to help New and Growing Companies identify the range of finance options available to them, from equity finance to debt finance.
The beauty of London’s business scene is that it’s not all about Silicon Roundabout; there’s such a great diversity of industries operating and thriving here. From fintech to fashion and PR to publishing; peel back the onion layers of London commerce and you’ll see entrepreneurs and professionals from all walks of life and all four corners of the world innovating and making a significant contribution to the London economy.
Canary Wharf remains the home of the world’s leading banks, with the City still arguably the most important region for global finance. London is the global epicentre for professional services too. The world’s four biggest accountants are based here, as well as major management consulting and law firms.
The media distribution industry remains London’s second most competitive business sector; London is at the heart of the UK fashion industry and its tourism and retail sectors are equally influential.
Due to the sheer number of industries operating out of London it’s unsurprising that the capital plays host to literally hundreds of networking events every month. This is a huge opportunity for ambitious entrepreneurs and growing start-ups to build relevant contacts and develop potential working relationships that can benefit their growth plans.
At Workspace, our customers get access to a full list of events to gain valuable business insights and chat with like-minded entrepreneurs within the Workspace community.
Knowledge sharing is such a valuable tool for New and Growing Companies. Yet growing that little black book of contacts is even more so. The essence of networking is that it’s about people and with London one of the most vibrant cities on the planet, you won’t be short of people curious about you and your business.
Whether it’s an informal networking session with drinks, a workshop or seminar or a larger conference, London is arguably the best place in the country to make new contacts and build meaningful working relationships.
If you’re considering setting up in business in London, we can help. At Workspace we have 65 business centres located in all four corners of the capital, with commercial property to suit everyone. From bright, spacious offices and studios to creative workshops, we have comfortable spaces to help your business grow. Take a look at our available spaces here and kick-start your business journey in London with Workspace.