Reading the financial pages of newspapers makes it feel hard to believe that the UK economy really is in recovery. Yet, wading through the pages of news peppered with bankruptcy and business collapse, there are pockets of positivity to be found. In fact, many financial experts feel that there has never been a better time to start or expand a business and it is London, the UK’s capital in more ways than one, that is the focus of this new found optimism.
The heart of UK business
Although it is true that long term and sustained financial well-being is reliant upon businesses starting up and sustaining success in all corners of the UK, it is also true that the country’s economic hub remains London. Even in the deepest grips of the financial downturn, London managed to retain its ever-present hustle and bustle and many of its business sectors managed to withstand the seemingly unending and unstoppable onslaught of bad news stories. And it is the resilient and relentless nature of business in London that makes it ripe and ready for new and existing businesses alike.
In addition to its stubborn character in the face of economic adversity, London also has the benefit of its culturally diverse population, its vast array of appealing locations and its wide variety of business opportunities. Market research is of course a vital step to take before immersing yourself in the London business market, but with a core economic output that has remained as buoyant as possible through thick and thin the options are many and varied.
Something for everyone
Chief amongst the afore-mentioned market research is of course location. Although newspapers and local councils across the city may offer premises to let, it is best to allow an experienced commercial property consultant to guide you in your choices. Their understanding of London locations will be detailed and knowledgeable; indeed, the most experienced property experts will be able to match location to business, ensuring that you will be presented with the best fit for your needs.
For example, media-focused companies might be drawn to premises near the creative hub of Leicester Square whereas the office space St Jameshas to offer would suit companies from the financial world to the fine arts sector. Of course, such prominent and well-known addresses do come at a price. But although properties in Central London itself can command higher rental costs than average, the benefits of adorning business letterheads with such prestigious London postcodes can more than match the monthly outcome.
Time to take control
With the economy on the up, the continuation of London as a dynamic and durable center for business is very much on the agenda of government at both local and national level. As such, the incentives and support available mean considering London as a base for your business really does make economic sense. And whether you are expanding an existing business or establishing one from scratch aiming high can be an empowering experience – taking advantage of London’s stability in what unavoidably remains uncertain economic times means you will be steering your own financial future.