Starting a business can be an exciting and challenging time.
When considering where in the UK to start your business, there are lots of things to think about. You’ll need to regard your home location, transport connections, access to customers, local talent pools and the financial support that is available to businesses in the area.
London, vastly known as the financial capital of the world, offers some of the best opportunities for business startups. In 2021, there were more tech startups in London than in any other European capital. Here are the 5 reasons why you should start your business in London.
1. Transport connections
Starting a business in London means you have easy access to a wide variety of transport links. There is an extensive underground network and overground rail links across the UK (and beyond!). Major international airports including Heathrow and Gatwick are easy to access from central London and having a business close by makes it easier to begin crafting international relationships with customers overseas.
London is also easy to reach by road, being linked to motorways such as the M25 and the M4. However, it is important to consider the ULEZ and congestion zone charges, which often mean that taking a car is one of the more expensive options for transport in London
2. Financial and business support
There are various financial support programmes available to startups in the London area including loan funds and enterprise programmes. There are also different help-to-grow programmes that offer advice and guidance on how to start a business in London.
Small businesses in London have access to free business libraries and enterprise centres which offer low-cost workspaces, all aimed at helping entrepreneurs to grow their businesses.
3. Networking
When it comes to networking, London is a great place to meet new people that can help your business to develop. Whether you get involved in one of the many professional networks dedicated to small businesses in London or are simply happy to start up conversations in a nearby pub at the end of a work day, you never know who you might be able to make a connection with.
In September 2021, there were an average of 12.6 business events per venue held in London. Having these events on your doorstep means you are far more likely to attend them than if you had to travel from another town or city. Naturally, business events and conferences offer a wealth of networking opportunities.
4. Access to a large and talented workforce
Around 13% of the total population of the UK lives in London. That’s right, London is home to over 9 million people from different walks of life with vastly different experiences and interests. Naturally, not all of them will be suitable for a role at your company, but with such a large, diverse population, you’ll have access to some seriously talented people that can help your startup to flourish.
London also boasts a pool of graduates from some fantastic universities such as University College London, London School of Economics and Imperial College London, as well as graduates from Oxford and Cambridge. Many of these young professionals are keen to learn, full of inspiration, and striving for success.
5. Business space
With any startup business, funds dedicated to an office space may be minimal, and many entrepreneurs don’t want to work from home on a full-time basis. London has some great coworking spaces and workspace solutions that are ideal for startups. Pay simply for the desk that you are using now, not the space you may need in 3 months.
Coworking spaces provide a clear space to work which can help to boost your creativity and productivity. Working in shared spaces will also allow you to meet new people and maybe even strike up some new business relationships.
There is no doubt that starting a business in London is expensive, but perhaps that is a small price to pay given the opportunities you can receive in return. If you’re considering moving to London in order to launch your dream startup business, we can help with your removal and storage requirements. Give us a call on 0800 107 8422 to speak to a member of the team.
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