Why Does A London Business Address Hold Such Power?
There are a number of reasons why London hosts 40 percent of the European headquarters of the world’s top companies. Despite the high prices, the congestion and the weather, businesses large and small are choosing to base their operations here. But why does this fantastic city still hold so much weight in the business world?
It’s famous worldwide
There are not many cities that can claim to be genuinely famous all over the world, but London is one of them. It has cultural heft as home to the British Museum, National Portrait Gallery and the Globe Theatre. It has sights like Big Ben and Nelson’s Column that draw in visitors from around the world. And it has some of the finest restaurants and bars on the planet.
As such, a London business address still has that wow factor that is difficult to replicate elsewhere. When you tell customers or clients that your business is based in London, you’re instantly imbuing your organisation with a level of prestige that only comes from this amazing city. If London is not the best base for your business or is too pricey, you can always look into the many options of co-working or virtual offices.
It’s a financial heavyweight
Although the UK has a number of fantastic towns and cities, none of them come close to the financial and business pulling power of London. The city has a population of just under nine million, generates approximately 22 percent of the country’s GDP and is one of the world’s leading financial centres.
On the latter point, London continues to show a willingness to grow and innovate in order to stave off its financial competitors like New York and Frankfurt. It is already developing a formidable reputation as a hotbed of financial technology and continues to embrace international partnerships. Against this backdrop, it is hardly surprising that a London business address is still proving attractive to businesses.
An opportunity to collaborate
HSBC, Shell, Barclays, GlaxoSmithKline and Unilever all have headquarters in London and represent just a small sample of the many huge businesses that call the city their home. For other companies, the broad spectrum of successful businesses based here provide a great opportunity for collaboration. By sharing resources, businesses can create mutually beneficial partnerships that have the potential to reshape entire industries. This is only possible, however, if companies can regularly conduct face-to-face meetings. London is one of the few cities that can offer this, regardless of the industry that your business is based in.
So much choice
London is a big place, but it is also a diverse one. For businesses, this gives them a number of options when it comes to picking a location. Creative firms might find that Shoreditch, with its community of artists and open-minded residents, is the perfect fit, while boutique fashion houses and restaurants might find that Chelsea is a more appropriate location. Technology businesses will find a steady stream of talented employees in Old Street and Kings Cross will see them rub shoulders with Google. A London business address still holds a great deal of power, but businesses will have to choose where best to set-up. One thing’s for sure, they’ll be spoilt for choice.