Is London Still a Prosperous Place to Set Up a Business Post-Brexit?

Last Updated on 6 months ago by Nicky Johnson

Brexit promised a lot, but it left many UK businesses in an uncertain, even perilous, position once it came into place. The lack of a relationship with the European Union regarding future trading – including regulation rules and access to skilled workers – was a main point of contention that worried organizations big and small. 

Those worries turned into reality. While the impact of leaving the EU has been tricky to decipher – a pandemic and energy crisis has happened in between – there are signs that suggest it has hit the UK economy hard. The BBC reports it has seen less trade, workers, and investment. 

Are you planning to establish your business in London, but are wondering if all these post-Brexit issues will hold you back? This post explores if the capital remains a prosperous place for companies to set up shop. 

Is London Still a Prosperous Place to Set Up a Business Post-Brexit

It remains a hotbed for tech companies 

Euronews notes that, when it comes to tech companies in London, not much has changed post-Brexit. With the first and third best tech sectors in Europe and the world respectively, the UK is a hotbed for those in the technology industry – and that isn’t going to change any time soon. 

This may only be one industry, admittedly, but it is a positive sign one of the biggest sectors continues to grow and thrive in London. 

London is one of the world’s most visited cities 

Brexit or not, London continues to be one of the most popular cities on the planet. It currently sits only behind Hong Kong and Bangkok in terms of visitor numbers, making it the main tourist option of choice in Europe.  

While visitors will come to see the likes of the British Museum, Buckingham Palace, and Big Ben, they also contribute significantly to London’s economy. This can greatly benefit your company, particularly if you target tourists as part of your business strategy. 

Plenty of office spaces are available 

Worried about not finding the right London office for your business? The good news is that Brexit hasn’t affected the variety and number of spaces available across the city. Whether you want to be based in Paddington or Putney or require a large open-plan office or coworking space, you won’t struggle to find it in London. 

Take the aforementioned Paddington as just one example. If you look at offices to rent in Paddington, the diverse number of options available quickly becomes evident. You can find different offices based on size, facilities, cost, and so on.

Unlike other locations in London, this variety ensures businesses of all sizes – from large organizations to one-person operations – can find a suitable space in Paddington to match their requirements. 

The Best Talent

Are you planning to hire employees to join your business? If so, you won’t have a problem finding the right personnel. London is known for possessing the UK’s best talent, and that is a situation that won’t change, regardless of the current impact of Brexit.