In one survey conducted by Startup Genome, a world-leading research and policy advisory organisation for public and private agencies committed to accelerating the success of their startup ecosystem, stated that London is one of the most favorable ecosystems for building startups according to the 2020 Global Startup Ecosystem Report. London secured a second place spot tied with New York City. From the same report, London has the 3rd best Global Ecosystem in funding and 2nd best Global Ecosystem for talent. It is the only city among the list to have a Start-Up visa program where privilege is given to early-stage, high potential entrepreneurs starting a business in the United Kingdom.
London also provides cutting edge performance not just in Fintech but also in AI, PropTech and HealTech. You might have heard this a lot of times but London is a perfect place for startups. With an amazing talent pool, easy access for investors, unlimited number of opportunities, and strong links with the rest of the World, it could be a great place for your new business, or to find business partners to help you on your journey.
What helps economic growth? A government that supports it.
The UK has a conservative government which focuses on enhancing the private sector. There are also a number of schemes geared at fostering business growth, like Start-Up Loans, Enterprise Finance Guarantee Schemes, UK Innovation Investment Funds and the Aspire Fund which were all produced to encourage SME’s to drive the economy.
Benefits are not limited to just UK Citizens
As mentioned above, a new category of visa was created so long as they have £50,000 of UK-based investment; to allow anyone from anywhere in the world to enter the UK and establish a company.
Wide customer base
It is no exaggeration to say that London’s infrastructure is among the best in the world. The place has six international airports, 10 major ground transport hubs and an extensive, iconic underground rail system that could support your customers, business partners and employees to access your business.