Do You Have to Be in London to Run a Successful Business in 2020?

Workplace, Team, Business Meeting, Business People

Once upon a time, it was thought that a successful business would flourish best in London. This is especially true if you wanted to run a business with an international reach. However, that is no longer the case; no matter where you happen to be in the UK, you can easily set up a successful international business. Let’s take a look at why you should consider running your business from your hometown instead of moving to London.

Cheaper Rent

London is one of the most expensive cities in the world. While it might be a hub for commerce, there are also some key disadvantages to operating here. Not only will office rent be significantly higher, but you will also have to navigate a higher cost of living.

Even starting a business in the Home Counties or in another major British city will be nowhere near as expensive as trying to start one in London. You might have your pick of offices, and the chance to settle into a building with great amenities and connections elsewhere in the building for you to make.

Nearby Services

Many businesses choose to outsource key services like accounting and legal matters rather than have an in-house team. No matter where your business is based, you are likely to find local firms that offer both these services. This is great for you as it means you will always be close by. Sometimes you have to swing by your accountant’s or your solicitor’s just to have a quick chat about something. Using a firm local to you gives you this ability to slot such an appointment into your day.

You can, therefore, be based anywhere in the UK as there will no doubt be a service you can use close by. And so if you are based in the South West of the Country, try searching for the best accountants Gloucester has to offer rather than thinking you have to move or outsource to London.

Online Support

Thanks to the internet, you no longer have to rely on phones and letters to keep business running. You also no longer necessarily have to arrange a meeting in person to get things moving ahead; meetings and deals can be struck using internet call systems like Skype. No matter where you are in the world, you will be able to speak to clients and customers in real-time.

You can also share projects safely and securely thanks to innovations like the cloud. No matter where you happen to be based, it is no longer a hindrance to you. You will easily be able to conduct business as if you happened to be in a boardroom with the person in question. 

While London will remain a hub of business and activity for a very long time, you do not have to be based there to trade on an international level. Take a look at some of the benefits of setting up a business in your hometown. It might be more profitable than you initially thought!