As London is reputed as one of the world’s major centres of enterprise, you may understandably be excited by the prospect of starting a new business in the UK capital or even shifting an existing company to it.
However, exactly which part of London you ought to set up corporate operations can depend on the type of business you will be running. Here are just some examples of London areas you could particularly consider when endeavouring to select a fitting backdrop for your organisation.
There is one especially obvious reason why this part of East London warrants recommendation as a business base: the presence of Tech City, a high-profile cluster of tech firms.
“In recent years the tech sector has played a crucial role leading economic recovery, accounting for 27% of new job creation,” Joanna Shields commented in 2014, during her tenure as chair of Tech City UK.
In further words quoted by Hult International Business School, Shields enthused that the UK capital had turned into a “digital powerhouse”.
As also reported by Hult International Business School, 69% of businesses have cited not only technology but also creative sectors as crucial to London’s economic development.
If you are looking to run a creative business in London, which part of it should you choose as the setting for your corporate base?
A place somewhere in Central London would be a good shout — given, for example, the wide range of serviced offices in Mayfair, which is well-served by transport connections.
This London area is, of course, strongly associated with the UK Parliament — so much so that the Westminster name is often used as a metonym for it. This is similar to how ‘the White House’ and ‘the Kremlin’ are commonly used as references to, respectively, the US and Russian governments.
According to statistics posted on the Startups. website, Westminster is also one of the London boroughs with the highest start-up rates — and boasts a particularly strong concentration of both micro-businesses and small businesses.
This Inner London borough has a long history of prestige as a hub of commercial activity — having, for instance, been recognised in the Small Business Friendly Borough Awards 2014.
Like Westminster, the Camden area also fares amazingly well in not only its start-up rate but also its tally of micro-businesses and small businesses.
Camden is also noteworthy for its corporate versatility, with businesses of many different types likely able to feel comfortably at home here.
The district of Lambeth is located in South London, where creative start-ups can particularly thrive. Still, even if the business you would love to run in London won’t be in the creative sector, there remain compelling reasons for you to seriously consider taking up a Lambeth office space.
For example, Lambeth joins Westminster and Camden in having one of London’s highest start-up rates. However, Lambeth isn’t just a good business hotspot — it’s an exceptional one, as it has been credited as having a higher percentage of micro-businesses than any other London borough.