Okay ladies, you’ve decided you want to be entrepreneurs. You’re fed up with your 9 to 5 and you want to run your own business. This is an exciting time in your life, and it’s important you make the most of this opportunity. If you want to run a business, you can, of course, do it from home. But, if you want to grow and thrive you need to get out in the big city. There is nowhere better for an aspiring business woman than London. The vibrancy, opportunity, and cosmopolitan nature of the city makes it perfect for startups. So, here is a guide that’s going to help you start a business in London. It’s a guide to help you know what the capital has to offer that you can take advantage of. Read and understand the points on this post, and try to apply them to your business.
- Pick the Location
In the city, you will have plenty of wonderful locations to choose from. And you might need to have a look at the best-suited areas for the business you run. Some areas will be perfect for your business while other locations may not be appropriate. The location of a business is a massive part of the appeal of it. So this is something you need to make sure you take into consideration. It’s important to think about how your business comes across, and how people perceive it. Location plays a bigger role in the way your company is run than you might think.
- Figure Out Transport Links
One thing that is unavoidable in London is thinking about the transport links the city has. As an entrepreneur, you need to work out how the transport will affect your business. You need to think about you and your employees getting to work. There is also the fact that customers will need to get to and from the business. So you need to consider the underground and bus routes. Is your business somewhere that has a tube line? If not are the overground trains frequent and accessible? Do you see how important it is to think about the transport links and how they can affect the business? Sort Out Office Space You’ve also got to give some thought to your office space. Now, a lot of this is going to be down to the budget you have. A lot of businesses like to get offices in places like Pall Mall for the prestige. But, these are expensive so not very practical or economical for you. If you’re really struggling for time and money then serviced apartments might be the way forward. Office Space in Town offer boutique serviced offices in central London. These will be perfect for your needs and desires, and they will be serviced by experts. So, this is probably the best option when you’re trying to choose office space.
- Size Up the Competition
London is a very cutthroat city when it comes to business. The corporate sector is hugely competitive. And, because the city is so diverse there will be competition in every field. So it’s up to you to do what’s best for your business and to try to get an edge on your rivals. The best way to do this is to size up the competition. You need to know who the big hitters are in your field and where they’re based. Find out what it is that makes them so successful and consider adopting their approach. You should also look for weaknesses so you can make your brand stronger.
One of the best parts about living in London is the recruitment possibilities. Because there are so many people from all walks of life, you should have no problem finding someone to hire. The perfect people for your business could be anywhere, and London is the perfect place. There might even be recruitment fairs you could attend to scout potential employees. One thing is certain, and that is that you’re bound to have a huge number of applicants for the business. It’s just a case of sifting through and finding who’s right.
- Find Investors
Running and maintaining a business in London is not a cheap prospect. You’re going to need to have a lot of cash coming in. And at the start of the business this might be quite difficult for you. That’s why you need to consider bringing investors on board. They will be able to help bankroll the business and provide you with important financial backing. And if you’re looking for people to invest in your company then London is the place to be.
- Choose Your Demographic
Another thing it’s important to think about with any business is the demographic you’re aiming at. Now, in London this is even more crucial because there are so many more demographics. You need to make a decision about who you’re going to target and market as a local business. For instance, if you’re a street vendor you might think about aiming your goods at tourists. There is always a correct market to aim at, and you need to figure yours out. Aiming yourself at the wrong audience is a recipe for disaster.
- Make Use of Corporate Entertainment
Corporate entertainment is a very important part of running a successful modern business. These days it’s not enough to just attract clients and customers. You have to come up with ways to keep them sweet as well. One of the best tools you can use to do this is corporate entertainment, and here’s no better place to utilize this than London. There are so many different possibilities for things you could do. Dinner in the shard, a corporate box at Arsenal and a boat ride on the Thames are just some of the things you could do. It’s a weird and wonderful city full of excitement and possibility, and you should capitalize on that. Starting a business anywhere can be tricky, but in the bright lights of London it seems an even more daunting task. There is going to be a lot of slog and effort involved, and it will certainly be a learning curve for you. But, it’s worth it for the long-term gains. You know what they say; if you can make it there you can make it anywhere. Photo by Yulia Chinato
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