Why London is a Great City for Starting a Business
Businesses and start-ups, nowadays are not only set up locally but also, they are worldwide. London is a great city in the UK that is famous for lots of things like its royal family, heritage, history, culture, and food. But that is not it. With the advancement of technology, it has become a huge start-up and business hub. Apart from London, many cities around the world are great options to begin businesses like Dublin, Bengaluru, Boston, Copenhagen, Madrid, Oslo, Austin, Vienna, Paris, Los Angeles, Miami, Istanbul, Seoul, etc. A start-up or a business is different from a regular job. Each start-up is unique in its ways and strategies and needs to be set up accordingly in the right city for maximum profits.
Factors to look for when choosing a city to launch a business
There are various factors to consider before choosing a city to launch a business.
The first thing to consider is the quality of life there. This does not mean choosing a place that one wants to just live in. The set of consumers to be targeted had to be kept in mind. For instance, London is a city where people consume large amounts of alcohol, especially gin. There are around 7000 pubs in London itself. Something related to this can be a good business idea. Similarly, Dublin is a great city to start a business in clothing or farming.
The second factor to consider is the availability of cheap labor and raw materials. Reasonable real estate is important too. A budding business might not be able to afford to set up an office if the prices are too high. A business should begin from a place that has similar businesses already, this confirms possible funding.
Connection to other cities and countries around the world is also important for a business to flourish. International airports, bus stops, train facilities, local transport all have to be taken care of. A wide range of IT support should be present. Most works nowadays happen through the internet; hence, IT support is one of the necessities. Tech companies assist in doing that usually.
Top educational institutions, including schools and universities, are present in London. Every year, loads of qualified and deserving candidates pass out who are capable enough to help run a business and know how to get jobs done.
What makes London a perfect place to launch a business?
London is a great city to begin your business with. There are various factors behind it. Reasons why London is a great business hub, are stated below under this subheading. The UK has a Tech Nation visa that prevents any complications. In various companies, various budding businesses had to shut down due to the tedious process. Due to UK’s such facilities, London is one of the best places with no issues for international businesses.
The UK Government tends to provide huge support to start-ups and businesses. To launch a business in a city, for instance, London, one needs government support. Such support lacks in many countries like the USA itself. One can incorporate their business (company) very effortlessly that too online, and the whole procedure is over within just 24 hours. UK government provides grants to businesses as well.
Investment becomes a huge deal when it comes to starting a new business. Searching for investors is a tedious job. The UK government usually gives lucrative tax benefits to invest in budding businesses and start-ups.
Over these factors, London also has a geographical advantage. It takes around 2 hours to go to most European cities from London. It takes around 7-8 hours to fly to New York as well. Thus, when a business wants to open up somewhere in Europe, they consider London their first option. There are six major international airports in London:
London City, London Gatwick, London Heathrow, London Luton, London Stansted, and London Southend.
London is one of the cheapest places to reside if we consider other cities that provide the same facilities. It cheaper when compared to other tech hubs like New York and San Francisco. The house rent, prices of groceries and food are all lower in London.
Appointing a London based outsourced IT company
IT is a very important factor for a business to keep functioning. Although using the internet and related services is a pretty easy task, a company or a business would always prefer having a team of professional individuals. Reasons, why London has become a huge business hub is because it has great outsourced IT support London companies.
Business in London is very much dependent on these IT companies. There are many reasons to choose a London-based outsourced IT company. An outsourced IT support is very affordable. Business in London, however big or small, need such IT support. They help move into a new office and set up all services such as internet, emails, cloud solutions, etc. In the case of outsourced IT support, one pays only for what one needs. For a business that has just begun, huge IT support is usually not required. They also make sure that the business or start-up is in a safe virtual environment. London is the best city to have an outsourced IT support team because one can get tons of options.
It can be summarized that London is the best city to start a business that too at affordable expenses. It has all sorts of facilities required to begin a start-up. Apart from these, the affordability, cultural heritage, good food, and lots of other factors make it an amazing place to reside in. Help from the government at various levels while doing business is great support altogether. It has amazing connection facilities also, as had already been mentioned in the article above.
One can start a business wherever they want to, in the world, especially if they are opting for online business. But for offline cases, various costs, technology, and other aspects have to be considered. There has to be a proper balance for everything, London provides that balance. It is a developed city, yet quite affordable compared to its other counterparts. One can argue that New York and the Bay Area provide the best companies and businesses, but to counter that, rent is a huge issue in the places mentioned above. Hence, London gets brownie points regarding the rent aspect as well.
Europe’s whole global business is based in London due to all the perks that this city provides.