Being a boss is an amazing feeling. However, the feeling of being your boss in a city that has a thriving economy is unmatched. London is blessed to have a diverse yet successful economy. The city thrives in sectors like art, fashion, entertainment, tourism and even technology. It offers opportunities to entrepreneurs to make their mark in any of its successful industries.
Having a business in London as a foreigner is even easier. Once you have gotten a commercial property for your business, you can also get an apartment as close as possible to where you work. In the busy parts of the London, there are many corporate organization but it doesn’t affect residence. You can easily get an apartment just by looking for flats in London for sale.
Key locations for your business
Locations are important to a new business. The area you choose to launch a business can make or break it. One needs to be familiar with the best areas for business especially for foreigners in a city like London. The following locations are some of the best areas to launch a business:
- SHOREDITCH: This part of London is the place for you as an entrepreneur who is just starting or as a young professional. The commute around here is great in case you have to move around a lot. There are several diverse companies and restaurants in Shoreditch, you would find financial institutions, tech companies and even fellow entrepreneurs. Networking would be a breeze if you choose Shoreditch as your business location.
- West End: If you think your business is something tourists would love, then you should consider West End. It has a very vibrant and cultural aura, close to some landmarks and most importantly, a high tourist traffic. West End also has other perks like easy transportation, a good entertainment hub and excellent networking prospects.
- Canary Wharf: This picturesque area of London is one of its main business hubs. It is home to many big financial institutions and also a common choice amongst tourists due to its building and beautiful waterside attraction. A tech startup or a retail business would do nicely in this location.
- King’s Cross: This fast-growing business district was formerly an abandoned industrial site. It is currently home to industry sectors like technology, entertainment, art, fashion and so on. Just like many other active parts of London, you can maximize this area for networking, rubbing shoulders with great minds to grow your business
- City of London: Also known as ‘the City’, this is the best location for you if you want to venture into professional services. It also has human traffic due to tourists and a good chunk of institutions especially in finance.
Business in London: Choosing a location
A startup needs adequate planning to thrive. One of the key aspects of planning is choosing where the business will be located. It is important to carefully choose your place of work as it can greatly affect its performance. Some of the things to consider before you buy a commercial property are:
- COMPATIBILITY: Some kinds of business do better in some areas than others. It is therefore important to consider the parts of London where your niche is thriving or has the potential to grow. Also, you need to find out if there’s any legislation on the kind of business you want to run in the borough you have chosen.
- AVAILABILITY OF PROPERTY: The request for property in London is higher than the supply. The competitiveness of real estate can make it difficult to get your desired commercial property. You should therefore ensure the location you have in mind is one where you can get the kind of property you have in mind.
- PROPERTY COST: It’s no secret that real estate in London tends to cost more. Ensure the price of property in the area you choose aligns with your budget. You can also bargain for a reduced price in offers from property developers and real estate agencies.
- ACCESSIBILITY: Accessibility for your business is divided into many parts. You need to ensure it is in a place that has good transport links so that you can commute with ease. Other institutions/amenities you need to run your business smoothly such as banks, and suppliers. Most importantly, place yourself in a place where your target audience can easily access you.
Working online in London
With technology, not all businesses need a physical building. You can work from the comfort of your home with a smart device that is connected to the internet. Jobs like virtual assistance, web development, writing and so on. If you fall into this category, what you need is a comfy house where you can work with ease. Your choice of housing will depend on your taste and/or budget. London however has an array of flats as well as villas for sale, read more on the official website – London.Realestate.
If you’re work online, you do not necessarily have to be too picky with areas of your work unless there’s a certain infrastructure you want to be close to. You can however select your home based on the number of occupants, the facilities and of course, your budget. With a cozy flat, you can set up a nice workspace in your home. This way you enjoy the familiarity of your home while maintaining an official atmosphere around you.
Make a living while in London
Working anywhere can be tough. In London however, you have several opportunities to work or even own your own business. The city has working infrastructures to make running a business easier from getting a property, to commuting as well as accessing needed amenities. Give London a chance if you are looking for greener pastures in a safe and beautiful city, the real estate market is friendly to foreigners and it has a burgeoning economy.