London still top business location for start-ups and SME’s

New research by London Executive Offices (LEO) has found that 64% of business executives would chose London as their desired business location. Findings suggested over half of those surveyed believe a London office address creates a better customer perception of their business. Not surprisingly results found that customers and business owners still associate certain addresses with success, for example 73% would chose financial services hubs such as Bank or Canary Wharf to base their business. 

57% of UK entrepreneurs and business executives still believe start-up businesses that are based in London have the best chance of the success. This is backed up by an astonishing annual growth of 20 per cent, possibly attributed to being based in the capital. Kings Cross has been listed as an up and coming area for tech start up’s and established businesses, becoming an extension of the highly saturated tech core areas such as Shoreditch and Silicon Roundabout. 

For start-ups who are uncertain about the cost implication of setting up a business in London, virtual or serviced offices could be a great solution. Businesses can benefit from London based telephone numbers, virtual receptionists, a highly sought-after London postcode and meeting rooms, hotdesking and shared working space, ideal for impressing clients. To view other benefits please visit LEO.

Beth Hampson, Commercial Director at LEO, said: “This research effectively shows the true value of a London business address, and that the capital remains the preferred location in which to set up and do business in the UK, with confidence remaining high in the London office market. Over half of those surveyed believe that being based in London would create a better perception of their business.

Start-ups, in particular, can thrive in London’s business eco-system and position as a global city, with unrivalled access to investment, customers, suppliers and skilled staff. Part of the attraction of London is the clustering of businesses in different locations, with demand for premium space to do business in London looking set to remain strong.

Our strategy continues to focus on expanding our prime portfolio in key central London locations to meet the needs of our customers, as well as identifying new areas to target. A prime example is the newest addition to the portfolio, Nova South in Victoria, which was already 70 per cent occupied on the day of its launch by a wide variety of business sizes and sectors.”