More businesses than ever before are setting up in the UK with many heading to London. What makes the capital so attractive?
Start Up Britain has revealed that 2014 has been a record year for new businesses in the UK. Close to half a million new firms have been registered in the UK since the start of January this year. That’s a record. In comparison with 2013 the figure was only reached in the middle of December. By the time the UK is ringing in 2015, experts predict as many as 500,000 new start-ups will be based in the UK.
London is attractive to new businesses and in the research comes out especially well as a place startups want to head to. It may be costlier but over 100 of Europe’s 500 largest companies, along with 75% of Fortune 500 firms, have a base in the UK capital. Whether it’s retail, tech, creative or financial, start-ups are drawn to the capital and this creates a wider base or pool for talents.
The UK capital has plenty of reasons to attract it to businesses. It’s a culturally diverse city giving it a breadth of experience and making it a welcoming place for people around the world. London is rich in history. It is valued for its experience and a centre of excellence; London is renowned worldwide as a business capital and a global centre for finance and banking. This reputation attracts the brightest and the best. It also ensures that global brands establish themselves in the city which makes it easier for fledgling companies to learn from and benefit from their experience, wealth and acumen. This promotes a stronger and more sustainable breeding ground for successful business. From there, London can feed in its support across the UK as a strong and secure centre, ensuring the whole country benefits from its success by sharing this talent and expertise.
The creation of new businesses in the capital means further investment and employment. It can also lead to an increase in visitor numbers and international business travel. With more travellers coming to visit firms in the capital it will inevitably boost the amount of money being spread to the city’s attractions like its museums, theatre and galleries but also hotels and serviced apartments. Demand for serviced apartments has increased in 2014 as more business travellers see the potential benefit of a versatile and flexible base to stay with more living space, fitted kitchen and Wi-Fi. An increase in start-ups and more businesses establishing themselves in the capital could see a further increase in business travellers looking for extended stay accommodation while they set-up and get their business underway, especially if they are looking to benefit from being in London but don’t have a permanent home in the capital.
Clarendon has developed and expanded a property portfolio based on hives of business activity and leisure hotspots. Serviced apartments in Canary Wharf and Tower Hill are close to the City while those in central and West End London are near to both attractions but also creative and digital business spots like Tech City. With a choice of one, two and three bedroom apartments across the capital, Clarendon has virtual tours and guest reviews for each of its serviced apartments ready to be explored at clarendonlondon.com