London is iconic and is commonly referred to as ‘the place to be’ for both work and social life. As a result, many companies associate having an office in London is a sign of them “making it!” but with property and office space at a premium for some this feels like a pipeline dream. However, with over 500 developments offering shared offices and coworking spaces having a London office may not be as unachievable as you may think.
Why Have An Office In London?
When you think of London you think of finance, banking and media. However, London actually plays host to a huge range of companies and sectors from tech to medical and fashion to real estate; London has it all. This is clearly highlighted by the fact 75% of fortune 500 companies have offices in London. Corporations that call London their home (or at least their EU based home) include:
- Amazon
- GlaxoSmithKlein
- Bloomsberg
As one of the largest cities in Europe, London boasts 40% green space, over 8 million workers and 100 Nandos; so it is no wonder why people flock to work and live there!
There is a wide range of options available to those looking to establish themself, or their company, in London. A key advantage for those looking to set up an office in London is the availability of funding and grants. There is a wide range of funding and support opportunities open to those looking to establish their company in London with some boroughs offering their own local authority initiatives. In fact, in addition to the London SME Fund, London offers over 30 funds and hundreds of potential angel investors making it a great place to set up your businesses. As an employer, you have an international workforce of 8 million, speaking 300 languages to choose from; so despite the UK’s widening skills gap, you are likely to find an employee to fit your needs.
Why Share An Office or Coworking Space?
Despite playing host to some of the largest names in business, 87% of all registered businesses in London are micro-businesses employing less than 10 people. This large SME business community has driven the popularity of office sharing and coworking within the London working community. So should you consider sharing an office or utilising a coworking space? There are a wealth of reasons why you should share office space but here are our top 2:
- You can offset costs and reduce overheads
- The ability to network and collaborate
Regardless of whether you have an existing office or you are looking for office space; coworking has its clear benefits. As an owner of office space, you can help cover overhead costs, attract new talent and develop valuable business relationships. As someone looking for office space; office sharing can open up a world of work opportunities and contacts while making office space affordable. The strong networking opportunities which are fostered in the shared office and coworking community are designed to bring people, their skills and their knowledge together. It is this thriving and vibrant community that means sharing office space in London simply makes sense!
