Starting A Business In Central London

According to the World Bank, the UK is the easiest place to set up and run a business in Europe. If you're thinking about starting a business in Central London, then here are some of the key factors that you may want to consider. As with most things, location is a key factor and it can make or break many businesses. Central London is an excellent location and it can help you to increase your reputation considerably. Of course, premises in such a privileged location attract a premium and if rent cost is a priority, then there may be more appropriate London locations for you.

Having a central London business address can immediately add a degree of cachet to your company's profile. Your business will be rubbing shoulders with the headquarters of some of the world's top companies and you can't help but benefit from the halo effect of being in such good company. If you receive clients at your building, then a central London location will create an excellent first impression with them. It will tell them that you're a serious business with enduring prospects.

There are all kinds of premises available in central London, and what you need will very much depend on the type of business you're in. If you're in financial services, then you may want to look for office space in or near London's Square Mile (nearest tube stations: Bank, Mansion House, Monument, St Pauls and Liverpool Street). This is the financial heart of the city where you can choose to rent space in architecturally significant buildings which speak of longevity and tradition. Or you can consider space in glass and steel skyscrapers which convey ambition and modernity.

If you're in the media world, then you may well want to be near to Soho (nearest tube stations: Tottenham Court Road, Piccadilly Circus, Leicester Square and Oxford Circus) which is where you can network with other creative companies from film, advertising, music, publishing and design. There is an enormous range of contemporary studio space for all types of creative work. And those planning to set up shop in central London will be well placed to catch an impressive passing trade. Not only is this area a major hub for workers, but you'll also be in the heart of tourist London. There are shops to let for all types of businesses, whether you're planning to set up a sophisticated eatery or a department store.

Prices will vary and it pays to shop around and look for any deals or sweeteners that may be on offer. London is a dynamic business centre and the UK Government is keen to continue to develop the city. This means that there are often generous incentives to encourage new businesses to invest; this can be particularly attractive if you're an international investor considering where to place your company.

Of course, there are other factors that you'll want to consider. Unless you're going to bring your entire workforce with you, the local labour pool will be of significant interest to you. London is a big city with a population of almost eight million residents. This number is considerably increased each day by the extra half a million or so commuters who come from areas outside of London to work. Because there are excellent transport links within London and surrounding London, many skilled workers are willing to travel in to work. So, no matter what skill set your business requires, there's an excellent chance that London can provide the workers you need.

You may also be interested to know what type of business support exists for new businesses in central London. There is an impressive and helpful array of support available. For example, there are government run organisations, such as Business Link, which provide businesses with help and advice on all issues ranging from the law through to taxation.

There is also a government run employment service, Jobcentre Plus, which will help you to find the right employees or apprentices without charging for their services. The London Mayor's office also provides its own business support, including initiatives such as Business Bootcamps, situated in London WC1 (nearest tube stations: Russell Square, Goodge Street and Euston Square) to assist budding entrepreneurs.