Owning a small business is challenging. Entrepreneurs have an inherent drive to build a future that’s bigger and brighter, but it’s really important not to lose sight of the here and now as you dream of better things to come.
This is why many naysayers will tell you that London is not the best place for small businesses. Sprawling, costly, and congestive, SMEs can expect extortionate rents on commercial premises and heavy competition. Those who choose to settle there must be prepared to be a little fish in a very big pond, and this is not always easy.
Yet London has many commercial benefits that shouldn’t be underestimated. If you’re dreaming of owning a shop in the city, here are three reasons why your idea might actually hold some merit…
#1: Customer Base
London is an incredibly populous city, and although this means that you’ll be faced with a huge amount of competition, it also means that you’ll have an ample customer base to appeal to. The capital’s streets are eternally busy, and you should never underestimate how many people will pop in or contact you simply because they’ve walked past your shop door or business premises. Provided that you can find some way to appeal to the masses, the opportunity to excel is yours for the taking.
London is renowned around the world as a financial, commercial, and retail centre, and there is prestige to be won simply by owning or renting a business premises within its boundaries. The right address can make all the difference when it comes to attracting the right people, and a London postcode on your headed paper could earn your business some real brownie points when you get the opportunity to start playing with the big boys.
A London address will also provide you with the opportunity to rub shoulders with the right names. All of the most successful businesses boast a presence in the capital, and if you want to earn a place amongst them, a base in the city may help you attract their attention. Even if you can’t afford to site your company in the capital full-time, simply renting a room from an entity like Landmark Plc will help to significantly enhance your reputation if you get the chance to network with the people you need to know to make it big.
If you’re looking for a place that will help you make your mark, then a move to the big city might be your first step on the road to riches.