London Still On Top For Business Location Choice
London Executive Offices (LEO) have recently undertaken a study to find out the true value of a London business address. Results have found that 64% of business executives would chose a London based address as their business location of choice.
Over half of respondents still believe a London business enhances customer perception of their brand, with 57% of UK business entrepreneurs and business executives still believe a start up business who chose to be based in London have the biggest chance of success.
Shoreditch is still rated highly as a sought-after location for Fintech brands and businesses, with over 50 percent of people choosing to locate a tech start up business in Shoreditch and/or Silicon Roundabout. Kings Cross was seen by 10% of respondents to be an up and coming area with more and more tech businesses moving in. Not surprisingly, the City still provides an incentive for brands to be based there, due to the location being closer to their customer base.
Understandably businesses are still concerned about the cost implication of being based in London, however serviced or virtual offices can offer a more cost-effective solution. Start-ups or small businesses can make use of virtual receptionists, a highly desirable London business address including meeting rooms, shared working space and hot desking availability, great for when clients pop in. To view other benefits please visit LEO.
Beth Hampson, Commercial Director at LEO, commented on the survey findings with the below:
"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."