5 reasons why central London is best for business
Submitted by Catrin Fox on
Last year, the number of private sector businesses in the UK hit a record high of 5.5 million. That figure was 2% higher than 2015, which represents a massive 97,000 more businesses.
It paints a very positive picture for business owners and aspiring entrepreneurs. But it also means that competition for consumers, for talent, and for investment, is constantly increasing.
Commenting last year on the rocketing rise in UK businesses, Adam Marshall, Director General of the British Chambers of Commerce, said: “We’re seeing more firms making the leap from start-ups to larger firms. The challenge now, at a time of transition and change, is to ensure the best possible environment for businesses to invest, recruit and grow.”
When it comes to starting or growing a business, there’s no better place than London. Landmark Offices has been providing high quality serviced office environments in Central London for the past 16 years, and in that time, we’ve accommodated and supported many thousands of companies as part of their growth journey.
In a nutshell, here’s why we believe Central London is the best place to start and scale a business:
It’s the world’s leading financial centre.
The City of London has retained its status as the world’s top financial centre, despite trepidations over Brexit. Home to the London Stock Exchange, Lloyd’s of London and the Bank of England, it’s estimated that around 300,000 people work in The City and almost half (49.3 per cent) are employed in the fields of financial intermediation, accountancy, insurance and banking.
There’s a huge talent pool.
Central London is a fusion of knowledge, experience and skills, and the capital has one of the largest concentrations of higher education institutions in the world. According to UCL, more than 400,000 students from 200 countries study at 43 universities in London. London’s status as a leading academic capital offers businesses excellent access to qualified graduates and skilled entry-level candidates, both from the UK and those coming to London for work and further study.
You’re in fine company.
London is home to some of the world’s largest and most established businesses. Approximately 75% of fortune 500 companies have offices in London, along with half of companies within the FTSE 100. London is also considered a prime location from which to base expansion plans, particularly those looking to expand into the Middle East. According to Business Money Magazine, “London’s large talent pool, mature financial services industry, as well as its strategic location are all key factors in its popularity as a regional HQ for the Middle East and Africa.”
London’s tech infrastructure is strengthening.
The UK capital is already home to world-class connectivity and super-fast broadband, and as more people and businesses move into London, the government is investing yet more resources into strengthening its technology infrastructure. Not only will this benefit businesses in London, enabling better usage of online tools such as video calls and cloud storage, it will also enhance the city’s technology sector. London’s ICT market is worth an estimated £36bn, providing world-class services to companies both at home and abroad. It’s an exciting scene for tech startups and it’s attracting tech giants such as Google, Amazon, Facebook and Microsoft, all of which have offices in London and have brought thousands of skilled jobs to the UK.
London is home to beautiful spaces, inside and out.
Around 47% of Greater London is green space and the capital is home to an incredible eight million trees, making it the world’s largest urban forest. From the glorious wide open spaces of Hyde Park and Regent’s Park to the picnic-friendly lawns of Kensington Gardens, there are plenty of places in which to relax and recharge your batteries. Of course, Central London is also home to stunning world-class architecture and landmark buildings, which provide prestigious workplaces for the 1 million businesses that now call London home.
Indeed, with London and the South East of England now accounting for a third of the UK business population, it’s more important than ever to stand out from the crowd. If you’re setting up or growing a business in London, our luxury serviced offices in The City and the West End provide beautifully furnished environments and first-class service to help your business grow.