If you are starting a business in London you couldn’t be better located! London is one of the largest and most densely populated metropolitans in the world, so your business will be right on the doorstep of millions of people.
Starting up in a city like London isn’t easy, you need to find premises in the right area, come up with a strategy for fighting off the competition and much more. Don’t worry; we have put together this comprehensive guide to help you gather all of the tools you will need to start your business efficiently in London.
Searching for premises
The most important thing you need to do is search for the right premises for your business. London is one of the largest cities in the world, so location is key. If you are selling high-end clothing you are probably best served by finding a shop in the West End or if you are a digital marketing agency, anywhere from Liverpool Street to Soho is considered London’s digital hub.
Once you have a location in mind you then need to start thinking about your physical space and what you require. If you are looking for office space, serviced offices are an ideal choice for start-ups. Your office will come fully equipped with desks, chairs, heating and cooling systems and more. Essentially, a serviced office is fully kitted out and ready for you to move into from day one – all you’ll need is some essential computer equipment.
By opting for a serviced office you save yourself time and money because you won’t need to spend endless hours sourcing and purchasing essential equipment that is already provided, meaning you can focus your attention elsewhere.
Developing a strong marketing strategy
The key to any start-up’s survival is to gain enough customers to generate considerable amounts of revenue. London is an extremely competitive place and you can bet that there will be a business based down the road offering similar products or services to you.
With this in mind, it is vital that you stand out from your competitors and develop a strong marketing strategy to put you in the best position possible to win work.
Develop a website
The first thing you need to do is develop a website that properly promotes your offering. Once this has been created you’ll need to start thinking about SEO. An SEO agency will work with you to improve your website’s standing within search engines for related search terms. If you are a baker, appearing number one on Google for ‘Baker London’ could generate a health number of leads.
Let the locals know you are there
Once you are open the first thing on your list should be to let the locals know who you are and what you do. The way you do this will largely depend on the type of business that you are. For example, if you are a baker, you could hold an opening event with free samples and get people to follow you on social media to win a voucher.
These are just a couple of essential ideas, have a look online and you are bound to come up with countless other marketing strategies that could improve the fortune of your business.
Hospitality and impressing clients
Once you have obtained clients you’ll need to focus on impressing them and improving your hospitality offering. If you are the sort of company that deals nationally, you are likely to have clients from all over the country (or maybe the world) so they’ll need to travel to visit you.
One thing you could do to really impress clients is to offer to put them up in a serviced apartment. They’ll save money on a hotel and have all the general amenities they need to have a pleasant stay – which can only help make them think more positively of your business.
Getting your taxes sorted
Nobody likes to hear the word tax but unfortunately it’s something we all have to pay. Unlike when you were a permanent employee, you’ll have to manage your finances and make sure that you set enough aside each month to cover your tax bill at the end of the financial year.
It’s ok, a good company will be able to manage all your taxation needs, so you can have more time to focus on the day to day running of your business and generating more work.
Are you eager to establish your own business in the bustling cosmopolitan city of London? Tell us about your experiences so far!