Starting a business can be an intimidating process. There are all sorts of steps to complete, red tape to cross, and hoops to jump through just to get the thing off the ground. As home to more than 800,000 successful small businesses in 2013, London may very well be the best possible place to launch your new entrepreneurial venture! The British government recognises the value of small businesses through the economic stimulation they generate, jobs they create, and excitement they can inspire in their communities. Because of all this, legislators have been very thoughtful about offering incentives for businesses in the area.
The first step in this effort is making sure that it is a relatively simple and straightforward process to start a business. Whereas 10 years ago it could have been complex enough to make anyone want to rip out their own hair and scream, now all that is required is a simple online form and £14. A company can become incorporated in about an hour these days. There are also several tax breaks available that allow small businesses to get on their feet during their first few years. In many cases, they may be able to claim cash back for business-related expenses, even including the salaries of some employees.
The government isn’t the only helpful resource available to would-be entrepreneurs, either. There now exist an increasing number of businesses that exist to help out other businesses. These are great because they’re essentially like “borrowing” expertise your team may not have access to. If your team is lacking in technical knowledge, for example, you could have a company come in to manage all your IT systems, whether getting set up up with cloud computing (https://www.prosyn.co.uk/cloud-computing-london.php) to communicate effectively with remote employees or clients. Every office space needs a reliable network, right? It’s good to know that if you’re not feeling up for the hassle of setting up a LAN, you can always outsource the task. Of course it doesn’t stop at just IT, helper companies exist to fill any and all knowledge gaps you might experience initially to make sure your small business gets a strong start.
According to the World Bank, the UK is the easiest place in Europe to set up a business, and with so many benefits, it is easy to see why. With all the industrial success of London, having a business stationed there can provide an automatic boost to your reputation. Your business will be bumping elbows with some of the most high-profile companies in several different industries! The labour pool is extensive with almost 8 million residents of the greater London area and even more willing to commute. London is a city that wants to see your business succeed as much as you do- there are even business classes available at the Mayor’s office! There is really no better place to grow a business. One thing to make sure of when starting your business in London is that adequate disaster recovery policies are in place, in order to make sure that all of your precious data is backed up.