LCCI: London is great place for business
04 January 2012
Written by David Whittaker
London has a wide array of office spaces in a variety of different locations, which provides the city with many benefits for enterprises.
This is according to London Chamber of Commerce and Industry (LCCI) spokesman Iain Smith, who said cheap corporate locations can be found in Croydon, Enfield and other places in the south of the capital, which could mean this is a good place to buy real estate with a commercial mortgage.
Westminster has a lot of business activity and might be described as the city's powerhouse, he declared.
The City of London and Canary Wharf are strong financial centres, while east London, Tech City and the Silicon Roundabout are "more artistic, up-and-coming areas", the representative added.
Mr Smith claimed an extension of the Northern Line could encourage public investment in other parts of London, with developments expected at the site of the 2012 Olympic Games and in surrounding districts.
"I know that's what a lot of people would like to see," he stated, arguing this location could become another type of creative hub within the capital.
"There is a wide variety which London has to offer," the spokesman remarked.
It also a popular place for foreigners looking for work to travel to, with a recent report from the LCCI entitled Migration reform: caps don't fit revealing 63 per cent of businesses in the capital have employed migrant workers from outside of the European Union or thought about doing so in the last five years.
A total of 24 per cent of enterprises argued hiring one of these individuals would enable them to expand their markets to overseas territories, with 30 per cent highlighting language skills as a reason to give these people jobs.
Corporate benefits provided by the large immigration to the capital may provide extra reasons for enterprises to take out a mortgage for business and set up in the capital.
"The best way to provide long-term, sustainable employment opportunities for British workers is by ensuring that our firms are able to grow," LCCI chief executive Colin Stanbridge argued.
