London is known to be one of the most expensive places to live in the UK, as well as the rest of the world. With soaring property prices and major financial companies dominating the city, it now has a reputation as being one of the major financial hubs of the world, with very few signs of slowing.
Whilst some entrepreneurs are put off by the lofty prices, there are actually many business opportunities in London. Here are some of them.
Property
Whilst houses and flats may well be extremely expensive in London, especially in the centre, the property market is incredibly lucrative for those who can afford it. Those businesses who own property assets in the city, especially the centre, are sitting on a goldmine of an investment.
There is certainly no shortage of offices to rent, either, which is good news for those businesses which cannot afford to buy property outright. Some of the biggest companies in the world are also creating headquarters in London, which goes to show just how lucrative the city is.
Financial Companies
As a powerful financial hub, London is a hotbed for established financial businesses, many of whom have been there for decades. That is not to say, however, that new companies will be left out from the promising opportunities offered by the London environment.
Businesses operating in the financial services sector are in a particularly strong position to do well in London, as there are so many businesses and client bases which they can serve. With so much economic activity generated from sectors like property and finance, it is not too difficult for a seasoned/ambitious entrepreneur to take advantage of the environment.
Networking
Many of the major business operations of the UK and the world happen in London. This means that there are many likeminded business owners who can network and conduct mutually beneficial operations/deals.
With the ability to hire out office space for networking events, it is now common for businesses and business owners of all types to get togetheren masse and provide each other with the services/products they need. This type of support and easy access to potential clients creates numerous opportunities for businesses to grow and expand.
Future of Business
Despite rising property prices and Brexit looming, the futurestill seems bright for businesses existing and operating in London. With the government offering many different types of grants to support and encourage new business, there is ample opportunity for growth and development in the future.
With this in mind, it looks as though business is still booming in the extensive and lucrative city, and there will no doubt be a continued stream of businesses and entrepreneurs flowing into the city in the coming years.
London still seems to be the land of opportunity for the majority of business types which exist today. As a centre of innovation and progression, businesses are still flocking to take advantage of the lucrative opportunities which the city offers, a trend which looks set to continue for the foreseeable future.