According to this report in Economia, London is way ahead of other parts of the UK in creating new businesses. This means that it is by far the best place to have the headquarters of your business. You’ll be in the economic capital of the UK, with potential employees for hire once you are ready to employ qualified people, and transport links to the major cities across the world making international business simple.
London is uniquely positioned in Europe as a business and financial city. The richness of its creative industries attracts business professionals of all industries. You new business can look forward to tremendous investment opportunities.
Unfortunately, although running a business is particularly good in London, the barrier to setting up a business is relatively steep. It’s extremely expensive to rent a space for a business. And high wages could prevent you from moving your business to the UK captial.
However, what if there were ways to move your business to London without the associated elevated costs? These are a few things you can do to successfully move your business to London without the extra associated costs.
Hire interns who will work for less than full-time employees. Think smart about the resources around you. A new business does not necessarily need too many employees to get it up and running. Do you really need such a large permanent staff? Or could you feasibly hire a couple of interns to do the jobs of some of your full time employees?
Interns are always looking for work, and as long as you’re going to treat them fairly (i.e. pay them and don’t over-work them), they’ll be delighted to work for you. Once they are ready to move on, you can provide them with positive references and help them on their ways through a successful career.
Outsource some elements of your business to make it more streamlined. Secondly, you should look at your business model and see if you could make tweaks that could help to make your workflow less expensive. This could mean that – for example – for your deliveries, use a delivery service instead of using your own car or business van.
This will reduce your overheads, and also make your business more straightforward. Whilst you can’t outsource everything without losing what makes your business unique, accounting and payroll can also be successfully be handled by other companies for you. Concentrate on your core business and get the services of others when you need it.
Impress your customers with a virtual Office. Finally, although the above suggestions will help to lower the cost of having an office in London, they’re never going to beat free. With a virtual office like London Executive Offices, your customers will think that you have your own central London office, while in reality, you’re running your home business from somewhere in Lancashire.
Take advantage of the international network of business professionals. Lot of businesses are now establishing offices in major cities around the world. London is an attractive capital in Europe. You can easily take advantage of the network of business professionals who could be your partners, investors or high profile customers. Having an office in London could open up international business deals – allowing your new business to expand quicker than usual.
Although moving to the British capital can be expensive, the potential opportunities are almost priceless. Good luck with your move.