The capital of England, London, has one of the biggest and fastest growing economies in the world. It is a well-known fact that the City and the relatively recently developed commercial district of Canary Wharf, also known as Square Mile, generate more gross value than any other place on the planet. But how about if you would like to start a relatively small business in London? Statistics show that start-ups that are originally based in the City and other central districts are more prone to failure, probably due to the competitive environment. There are much better areas that you can focus your attention on if you are looking to become a small business owner in London.
The Borough of Redbridge is a good place to start
Located to the northeast of Charing Cross, in what is officially referred to as Greater London, Redbridge would provide you with everything that you are looking for and more, including:
- A population of over 300,000 which means a lot of talent to choose from
- Good transport links to Central London and all other vital areas of Greater London
- Access to a wealth of services such as superb office removals in Aldborough Hatch IG2
- Lower expenses when compared to Central London
Start-ups in Redbridge have a high rate of success, which is a good reason to consider your chances there.
Another point of interest would be Croydon
Moving to South London, we cannot miss mentioning the borough of Croydon. Traditionally a place with a very strong economy, and benefit from strong support from the local council, Croydon has become one of the most thriving boroughs of Greater London in the past couple of decades. Recently a large investment was made toward the development of the tobacco industry in the borough, but the service sector is also to be taken into consideration. For example, if you are looking to establish the best end of tenancy cleaning services in London, surely you are going to find considerable competition here, but also the chances for your company to grow and develop like few other places in the capital.
Let’s not forget those trendy areas either
The right location is vital for any business. If your company is to specialise in trades such as fashion, decoration or the fine arts, and you are ready to make a slightly higher initial investment in your base of operation, you should immediately start looking for space in Kensington or Chelsea. In addition to being among the trendiest, most desirable residential areas in the capital, those two towns are the go-to place for anyone looking for a shopping spree in London. You want to be where the clients are, right?
Let’s not forget the transport hub
The area around the London International Heathrow Airport, e.g. the borough of Hillingdon may very well be the location you have been looking for. Here you will find a reasonable environment surrounded by businesses related not only with commerce and transportation, but also software companies, service industry specialists and finance.