London is a great place to locate a business. It is the largest city in the UK by some considerable way, the home of key players in many domestic sectors, and, with important train and air links to the rest of the world, an important international hub.
London is vibrant, buzzing and creative, but with major traffic congestion, a high cost of living, and considerable air pollution, the city is not for everyone. Before you decide to base you business in the Capital, you should consider the pros and cons of renting office space there. The following are some of the reasons you might choose to set up business in London.
Access to clients
London provides an unmatched access to clients. There were almost 850,000 private sector businesses in the capital at the beginning of 2013, and regular networking events and daily exhibitions at Olympia, Excel and Earl’s Court providing a networking potential that you won’t get anywhere else in the UK. Excellent transport networks also extend the potential client network beyond the UK, with the high speed Eurostar rail links opening up access to markets in Paris, Brussels and beyond.
Access to products and services
Locating in London can also put you close to some of the services and products that you will need to run your business. Conference facility and accommodation requirements are easily met, research activities can easily be outsourced, and a range of specialist consultants are easy to come by.
Simply having a London address can instantly add value to your business and demonstrate that your business is doing well. Certain locations are known for certain businesses, and being located among your opposition can actually have many advantages for your company. If you’re in the financial sector, for example, and looking forcommercial property monument London is a good place to begin your search.
Good transport links
With six international airports, London has the busiest airport system in the world, a major advantage for those with international clients and markets. The Eurostar rail link with mainland Europe, together with an increasing network of highspeed trains across the UK, makes getting into and out of London easier than ever. London’s bus and underground transport systems are among the most comprehensive in the world, this comprehensive transport network will help attract both employees and clients to your business.
Access to skilled workforce
London has eight times the population of the next largest UK city, Birmingham, and has one of the largest concentrations of universities in the world. When it comes to hiring staff, therefore, there are few cities with as talented and skilled a potential workforce. All jobs advertised should easily be filled with suitably qualified and experienced staff.
Since everything in London is more expensive than elsewhere in the UK, people will expect to pay a bit more. The expected high cost of doing business, together with the prestige that is associated with London, may allow you to charge a higher hourly rate than if you were based outside of London. This will help offset some of the costs of living there, which, when considered alongside the other benefits, will surely swing things in London’s favour.