According to the latest rankings, London has overtaken New York to become the financial capital of the world. In fact, the capital topped every single category in the index, from the best business environment to the top overall reputation, so it’s no wonder that entrepreneurs from all around the globe want to set up shop here.
London is a large and varied city, though, so you need to know which area will suit your business the best.
The City of London has become the go-to spot for financial institutions for everyone from the London Stock Exchange to leading banks, brokers, and insurance providers. This doesn’t mean the area is limited to established companies though. There is a large number of properties available for businesses of any size.
Real estate in these kinds of locations will come at a premium, however, so seek out advice from experts like Saffron Building Society before you make a commitment. Outside the heart of the city are areas like Camden, Lambeth, or Southwark. While these locations also have a reputation with the financial services sector, you’ll also find head offices for everything from advertising, publishing, and media groups.
East London saw tremendous changes to its infrastructure in the run-up to the 2012 Olympic Games and businesses are reaping the rewards of this major investment. The area has a long-standing history in the manufacturing industry but is now becoming most known for its growing position in the new, digital enterprise.
Tech City, also known as the Silicon Roundabout, is the third-largest technology startup cluster in the world after Silicon Valley and San Francisco and is home to established names like Intel, Facebook, and Google alongside up-and-coming and award-winning startups like Import.i, Simply Business, and SnapComms.
Traditionally, South London would have been considered an afterthought for entrepreneurs looking to make a name for themselves in the capital. Today, though, it’s becoming the next big place to be. There’s an increasing number of microbusinesses taking advantage of the competitive prices on everything from office space to independent business support.
For those looking to hire, those living here are more likely to have NVQ Level 4 qualifications in comparison to both North and East London. There’s also Croydon Tech City, the town’s own answer to the Silicon Roundabout.
There are over 1,000 digital, tech, and creative startups based in the area, making it the fastest-growing tech startup cluster in the capital.