A global city with key industry headquarters, excellent links and world class entertainment? London has got to be the best city for any aspiring business, surely?
No matter what industry you’re in, you want to be based somewhere its easy to do business. What do I mean by easy to do business?
- Access to large corporations such as media, banks, shipping etc.
- A pool of highly qualified and experienced people to network or work with.
- Effortless transport links to everywhere in the world.
- Good quality of life and low corruption.
Sure, there are several cities which fit the bill, but London may be the only city with literally EVERY industry based in it’s city limits.
Let me explain.
Many countries have cities which specialise in different things. For example in the USA, New York is the financial powerhouse, the centre of banking and the home of several large corporations. Washington is the seat of government and Los Angeles and San Francisco the home of film/media and technology respectively.
In Germany cities like Berlin are buzzing powerhouses of their own but Frankfurt is where the banks are based, or Munich is the industrial centre.
London has it all
London might just have everything that the business entrepreneur needs. It is:
- The seat of government and government agencies.
- The centre of the UK’s media industry.
- A regional hub of tech startups.
- A global fashion and design Goliath.
- Close to major shipping hubs like Felixstowe and Southampton and…
- Has access to 6 international airports.
To top this off it also has consistently decent wifi, stacks of places to do business and a public transport infrastructure which means that everywhere in the city is reachable in a reasonable period of time.
There must be a down side, right?
Honestly, it’s expensive. In fact it’s one of the world’s most expensive cities to live in in terms of housing, transport and entertainment.
The factors that let London down can be deemed a benefit to others.
Yes, accommodation is very expensive, even cheap apartments in out of the way areas can be a hit in the wallet. You’re looking at upwards of GB£1000 per month for a basic studio apartment in zone 1-2 (central London).
But if you have money to invest then the property market is one of the most buoyant in the world. The average property price increase in London was 7% in the past year (2016-17).
Many people quote the weather as a major downside to living in London, however, London’s weather is not as bad as you’d imagine. OK, yes the winter months can be quite disheartening with the short days and yes it does rain a fair amount. However New York City and Hong Kong get considerably more rain (if that’s anything to go by)!
The food? Well, London gets a bad rap for food which is now much better than it used to be. In fact, London is now considered the capital of food. A statement New Yorkers may scoff at.
If you think London might not be the best spot for you then check out our guide to alternative destinations for digital nomads.
The place to get ahead in business
But the fact of the matter is, if you’re trying to get ahead in business, at some point it would be good to make London a stop on your journey.
Those in finance of any sort especially can really benefit from some great networking and business opportunities. If you’re looking to invest in business start ups there are lots of networking events packed full of people with great ideas.
In fact there are opportunities for everyone from engineers to graphic designers to entrepreneurs looking for their next deal.
Britain is also a great springboard into Europe and even with the impending Brexit, business should still be good. In fact it could be a brave new world offering new opportunities to those ready to give it a go.
If you’re thinking you should make the move to this fantastic city then do it! You won’t be disappointed.
I’ve written in depth about how to move to London in my book, available as a download on Amazon. For the smarts on the ground, including where to live, how to find friends and more, pick up a copy today.