London has a rich history spanning millennia, and it is a thriving city that houses many organisations and industries. But which area is suitable for your startup office space in London?
Considered Europe’s financial capital, the City of London is the ideal location for startup businesses to move to if you want to excel and flourish. With its numerous attractions and stunning office spaces, how could you go wrong?
But to act in the best interest of your company, there are many factors to consider. . That’s why we’re breaking down seven reasons you should move your startup company to the City of London and how that can benefit your business and its success.
Why You Should Move Your Startup Business To The City of London
1) Excellent Recruitment Opportunities
With 587,000 workers in the area, the City of London opens up fantastic recruitment opportunities, meaning you can employ the best people for the job.
This location offers a diverse range of people with different cultural backgrounds and experiences to accompany their varying educations and skills. Your future colleagues can bring unique viewpoints to your business to help you achieve the best results.
The City of London also appeals to graduates seeking employment so you can find enthusiastic staff to join your company. Several universities are in the area, such as London Metropolitan University’s business school, ideal for those wanting to employ students graduating from higher education.
2) Easy Commuting
The City of London has various modes of transportation you and your staff can use, allowing everyone to get to work from multiple locations around the city. For example, 35 Santander Cycles docking stations are within the area for people to utilise.
Ten separate tube stations, including Liverpool Street and Chancery Lane, provide access to various tube lines throughout London. Buses can also help colleagues travel between boroughs.
London Heathrow is within an hour of the City of London for international business trips and clients, making this a perfect place for organisations needing to travel further afield. There is also London City Airport, which is closer but isn’t as widely connected.
3) Numerous Nearby Attractions
Clients are a crucial part of any business, so you need plenty of ways to entertain potential customers when they visit. Luckily, the City of London has various attractions nearby to take advantage of when charming your clients.
St. Paul’s Cathedral dates back to the late 1600s, though the original church opened in 604 AD. It contains over 1000 years of history that visitors can explore, including the tombs of Admiral Horatio Nelson and the 1st Duke of Wellington, who famously fought in the Battle of Trafalgar and the Battle of Waterloo, respectively.
St Dunstan in the East Church Garden became a public garden in 1967. Initially, the Church of St Dunstan opened in approximately 1100, but it suffered damage by the Great Fire of London in 1666 and again in the Blitz in 1941. The remaining ruins are a Grade 1 listed building and a popular location for colleagues wanting somewhere to eat lunch.
Leadenhall Market is a Victorian market with various shops, bars and restaurants to catch clients’ attention. It also hosts numerous events, including concerts, and has centuries of history that dates back to 1321. The area is also a popular filming location for movies such as Harry Potter and the Philosopher’s Stone and Lara Croft: Tomb Raider.
4) Variety of Office Types
If you are considering renting startup office space in London, there are several options you can choose from to suit your business needs.
Larger organisations can take advantage of private offices, whilst companies needing less space can lease shared offices instead. Hot desks are also available.
Not only can the size of your office vary, but you can also choose the type of lease to suit your needs. Flexible offices in London offer different workplace options to the traditional lease, and managed office space acts as a hybrid between the two.
Featured City of London Offices
Other serviced offices in the City of London are also available, so make sure to find the best one for your business!
5) Networking Opportunities
The City of London has many networking opportunities you can take part in to spread awareness of your brand and what you can offer to the area. As one of the leading business districts in Britain, this area has many opportunities for you to attract new customers to your company.
You can sign up for events, enabling you to interact with other businesses and industries throughout the month, such as networking lunches and brunches.
6) Competitive Rent Rates
You want to find your dream space within your budget when looking for your ideal office. Luckily, there are office spaces available for various financial situations.
DeVono have various affordable workplaces available for your business. A four-person office within a 2km radius of the City of London can cost as little as £1100pcm. For example, when writing, Finsbury is £1320pcm for four people, whereas St Martin’s Le Grand is £1240pcm for four people.
These prices can include various amenities and facilities your company can use, such as WiFi, making them ideal for tech startup businesses wanting office space in London and organisations wanting a quick start in their new workplace.
Please note that prices depend on various factors, including the number of people using the office space.
7) Four Established Business Improvement Districts
Business Improvement Districts (BIDs) are business-funded bodies to support the area, though they can also receive other funding. Business ratepayers pay a levy, which provides the BIDs with money. A BID can then implement improvements to the local area.
There are four BIDs within the City of London, all of which operate with different objectives. They are the following:
- The Aldgate Partnership – This BID focuses on various elements, including but not limited to business safety, destination marketing and preventing crime.
- The Cheapside Business Alliance – Initially developed in 2015, the Cheapside Business Alliance (CBA) works towards issues such as marketing and tourism, business networking and large-scale public events.
- The Eastern City Partnership – Focusing on branding, security and a greener environment, this BID plans for eight million square feet of new floor space in the next decade. This floor space is for approximately 70,000 more office staff, meaning their presence will grow in the City of London.
- The Fleet Street Quarter – One of the objectives of the Fleet Street Quarter is to enhance the leisure and retail offer in the area. They also work with landowners and businesses to create a future vision for Fleet Street.
Finding the perfect location for your office space is crucial, and after reading this blog, you should understand how beneficial the City of London can be for your organisation.
If you have any questions about office space in London, contact us today and see how we can help you find the ideal workplace for your startup business.
