Once you have had your ‘eureka!’ moment, coming up with an innovative idea for your start-up, the only thing left to do is to get started. However, the next question is where you might start to lay down your roots.
Therefore, if you are thinking of setting up your start-up in the UK, here are 4 reasons why London is the most ideal place.
- Access to the best talent
Many of the UK’s most highly regarded universities are located in and around London. With University College London, Kings College London, Imperial College London, and London School of Economics, London is sure to be a hub of the best talent in the country.
Not only this, but London is not far away from Oxford and Cambridge and has great transport links with fantastic universities across the country like University of York and University of Durham, which also leads to an influx of talented graduates to the capital every year.
- Global city and the economic capital of the UK
London has long since been referred to as the economic capital of the UK. It is estimated that London contributes between 20-25% of the UK’s GDP, which is the largest contribution at around £487.15 billion.
Of this, the strongest positive contributor to growth was the finance industry. The benefit of this is twofold: firstly, if your start-up is going into the finance sector, it has the best chance of success; and secondly, there are many financiers and investors who can help to grow your start-up, no matter the industry.
- Enjoy room to start up and grow
In London, there are many flexible workspaces, start-up spaces and coworking spaces to choose from. In fact, there are thirteen exclusive flexible workplaces In London From BE Offices, including six in the City of London, five in the West End and Midtown, and two in Greater London.
These flexible workspaces have everything you need to start your business with its best foot forward, providing the highest level of workspace and equipment at great value. Their all-inclusive pricing includes all rent, rates, and utilities, with high-speed internet, high performance furniture, and all the infrastructure you need.
But this doesn’t stop you from growing your business over time. With the opportunity to rent anywhere from one to 1000 desks, these workplaces offer complete flexibility for your start-up, allowing you to focus on what you do best.
- More opportunity for diversity and inclusion
London is the most ethnically diverse region of the UK, where one census found that 40.2% of residents identified as BAME. This percentage includes 18.5% who identified as Asian, 13.3% Black, 5% Mixed, and 3.4% selected ‘Other’.
Therefore, choosing to locate your start-up in London can give you access to an incredibly diverse workforce. This allows you to understand all your customers better, take advantage of diverse skill sets, and really make your workforce inclusive.
Overall, London has everything that you need for a successful start-up. From the best and most diverse talent in the country, to the capital needed to get you on your feet, London is the ideal place for your start-up to call home.