Why London Remains the UK’s Leading Business Hub?
No matter where a country is located in the world, it will always have a pivotal business center that drives economic growth and development. America has the financial capital of New York, for example, while Qatar remains key to the development of the UAE’s developing economy. While numerous cities in the UK may have benefited from significant regeneration in recent times, however, the capital city of London remains unchallenged as the nation’s leading commercial center.
London is also world renowned as a global business hub, however, thanks primarily to its multicultural diversity and the fact that there is a store and brand for every occasion Due to its sheer size and scale, there are literally thousands of business opportunities located across hundreds of individual industries. London is currently home to an estimated 6.5 million inhabitants, while tens of thousands of visitors come to London each and every year. Because of this, London is the ideal location for establishing a business and laying the foundations for economic growth.
With this in mind, what specific aspects of London distinguish it as such a vibrant and purposeful business hub? Consider the following: –
London’s Financial District and Stock Exchange
London has previously been dubbed the ‘world‘s leading city for economic clout‘.. The main reason for this is undoubtedly the strength of its financial sector, with the city’s financial district appearing as its ‘crown jewel’. This reputation is well founded, and driven primarily by the presence of the London Stock Exchange and it‘s influence as a global financial body. Acting as a magnet for both companies and individual investors alike, there is finer location for entrepreneurs who are hoping to secure funding for their burgeoning commercial venture.
A Source of Knowledge and Information
Innovation is garnered through knowledge, and London has world-leading universities which are seen as being crucial to securing the UK’s future as a business hub. While this future already looks incredibly secure, it is important that students with talent and drive are able to fulfill their potential and earn the knowledge required to become the employers of tomorrow. Given that business leaders all over the world continue to send their children to London’s great universities in order to receive their education, however, the cities reputation as an educational leader remains unchallenged.
The Innovation Sector
Over the past few years, London has seen a huge increase in the number of IT businesses located within the city. This not only applies to fashionable West London and the financial sector, however, has East London has also been transformed into a digital hub that is one of the fastest growing areas for technological innovation in the world. Even Google are launching its own hub there, with a new $600 million office development set to be constructed in the heart of the city.
Transport Connections and Accessibility
London’s underground and over-ground transport links are essential for getting around the city and, although they aren’t perfect, they’re still incredibly useful for businesses. The Olympics in 2012 saw substantial improvements of the underground system and, with further works planned, it is likely that London’s transport links will soon be back among the world’s best. There are literally thousands of reasons why you should locate your business in London, as it is home to numerous investment and development opportunities that simply do not exist in neighboring UK cities.
The Bottom Line
If you can afford to locate your business in London then it is well worth doing. The cost may be large but the rewards are great and, once you’re established, your business will undoubtedly thrive in this hustling and bustling environment.
This article was written by Laura, who has worked for financial service providers in London prior to leaving the city. To identify potential London locations for your business, she recommend that you visit skylineoffices.co.uk.