Stuck in an unproductive rut? It’s time for an office move.
Submitted by Catrin Fox on
Britain’s entrepreneurs are obsessed with productivity. From sole practitioners and startups to SMEs and even FTSE 100 companies, every organisation has a productivity stumbling block.
There are more than enough training workshops, mentors, self-help guides, books, and podcasts to help overcome the challenges of productivity. But how do you really get past it?
The answer could be your office location. According to data produced by the State of Small Business report, there is huge regional disparity when it comes to business productivity. The UK itself is not the problem; the World Economic Forum and World Bank rank the UK in the global top ten for business.
The issue is at local level. The report revealed that certain parts of the UK are deemed more productive than others, with firms in some parts of the country enjoying 26 times more productivity than those in the worst-performing areas.
So, which part of the UK is the most productive?
It’s The City of London.
With its high concentration of financial services and insurance firms, the Square Mile delivers the highest SME productivity rate in terms of turnover per employee, which is largely attributed to key factors including skills availability, connectivity, and industry.
But, skills and sector aside, there are plenty of other important factors that contribute to higher productivity rates for businesses in The City of London. They include:
The right environment.
As the saying goes, ‘You’re a product of your environment’. Certainly where business is concerned, it pays to invest in the right location. For financial and insurance firms, along with the many technology, media, creative and support industries that service their requirements, offices in the City of London provide a prime location right in the heart of the action.
In terms of physical workplace, it also pays to invest in a professional office environment and equip your team with the tools they need to carry out their roles effectively. That includes professional office space, meeting rooms with conferencing facilities, market-leading technology, and high-speed Internet connectivity.
The Square Mile is competitive and densely populated with aspiring businesses, which means firms in the area can keep a close eye on their competition. More importantly, they can learn from each other, too. Because when you surround yourself with the best influencers in your industry, you’re more likely to benefit from shared knowledge and experiences, and create opportunities for new business connections.
High quality flexible workspace.
Demand for flexible workspace in the City of London has soared in recent years. Part of this demand comes from small businesses and startups who need to be close to their target market, but it also comes from larger organisations who recognise the benefits of a flexible office agreement. After all, when you can’t accurately predict where your business will be in 5 years’ time, why risk huge amounts of capital on a fixed 15 or 20-year office lease?
The knock-on effect of strong demand is more supply, and The City of London certainly has a high density of serviced offices. Landmark Offices alone provides 4 serviced office locations in The City of London, whilst i2 Offices provides 8 business centres within the financial district. That’s great news for small businesses: take your pick from a variety of flexible serviced offices across the City and choose the location, workspace, style and fit-out that suits your requirements.
It goes without saying that The City of London is incredibly well connected. There are 12 tube stops and 6 overground stations within the Square Mile alone, not to mention scores of taxi ranks and hundreds of cycle stands. Time is money, and shorter, faster connections means less time travelling and more time meeting clients, developing relationships, and growing your business.
With excellent transport links, a world-class business reputation and high-quality workplaces, it’s easy to see why the City of London is the No.1 place for business productivity.
Find out more about flexible serviced offices in The City of London with Landmark Offices.