Although the financial insecurity of Brexit has temporarily threatened to topple its crown, London remains – for now at least – one of the best places in the world for young people and entrepreneurs looking to launch a new startup. But just what it is that makes the city so appealing to some of Europe’s brightest business brains? We look at the reasons why.
Space to think
For most startups, getting their own office space in the city is a pipe dream. But many startups are turning to coworking spaces to give them the convenience of flexible, affordable working space without the high cost of permanent office rental. And London has hundreds, from budget-friendly options to luxury, exclusive clubs complete with gyms and gourmet restaurants on site.
Meeting the right people
Nothing kick-starts a business like mingling with other people at the forefront of their industries, and there’s nowhere better than London to see and be seen. Here, every coffee break and after-work drink is brimming with the potential to take your venture in an exciting new direction. Can’t afford to work in the city itself? A virtual office in London will give you all of the networking benefits without the expense.
Making your money go further
Although it might seem like a bold claim for one of the world’s most notoriously expensive cities, being a startup in London can actually be a surprisingly affordable choice. Because competition is tough, everyone from coworking spaces and broadband companies to business card manufacturers are fighting for your business. Shop around, and you could save your startup hundreds by choosing the most savvy deals.
Talking the talk
Anyone who’s anyone in business has a London connection – and customers know that as much as you do. So even if your startup is brilliant, you might find that it fails to get noticed outside the bubble that is the capital. In order to have the most impact, try and run your startup from a London address even if you’re not based there yourself. An easy way to do this is to direct your correspondence via a mail forwarding address in London, giving your venture the appearance of a successful city office without any of the expense.
Selling your ideas
No matter how brilliant your business concept, you need to make sure people hear you loud and clear – and London is the perfect place to get noticed. From networking events designed especially for young entrepreneurs to countless marketplaces and fairs where you can showcase your ideas, London really is a startup paradise.