Talented staff and access to global markets make London a business hub.
Companies on the hunt for business property at which to base themselves have been advised of the benefits of buildings in London.
The Confederation of British Industry (CBI) has revealed that the economy in the English capital is currently heading in the right direction, with firms said to be hiring as normal and feeling positive about the future.
As such, it could be time to take the advice of Sara Parker, London regional director at the CBI, who said the city has plenty to offer those looking for commercial premises.
“London is a great place to buy a business. Companies view the city’s talent pool, ease of access to global markets and proximity to clients as the capital’s biggest strengths,” she stated.
On the other hand, perhaps the only major negative is the fragile transport infrastructure, which many organisations would like the mayor to prioritise, particularly in the run-up to the 2012 Olympics.
Ms Parker’s positive outlook on business property in London came after the CBI released figures showing the destination is seemingly overcoming the impact of the recession.
It found that, at the halfway point of 2011, some 57 per cent of companies are taking on staff as normal once again, up from 45 per cent six months ago.
Meanwhile, 51 per cent are positive about the future of business in London, with that figure rising to 57 per cent of small and medium-sized enterprises.
As a result of this, 65 per cent of firms are plotting an expansion, with 43 per cent saying they hope to grow in London – perhaps by taking on more business property.
One firm that looks set to take advantage of the positive outlook in London is banking giant UBS, which is planning to build a new European headquarters in the city.
The bank’s proposals were recently given a boost when culture secretary Jeremy Hunt rejected the idea of protecting the site in question with listed status.
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