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Though it is developing later than Silicon Valley, London is a major center for entrepreneurs and leads Europe in start-ups. The vibrant city full of culture and origination assists companies with getting off the ground and creating viable business opportunities.

The push to attract start-ups has led to a flurry of co-working spaces, incubators, and accelerators for jump-starting networks, products, and new services. Couple this with the ambiance of a world-class, historic city full of museums, art, music, and theater, and it makes for a desirable area to flourish.

There are over 4000 start-ups in London and over 70 co-working spaces such as WeWork, The Office Space, and Rainmaking Loft. These types of spaces allow businesses to share resources and space to reduce costs, network and collaborate with like-minded partners.

With rental fees significantly lower than dedicated space, these locations are ideal for start-ups keeping their eye on the budget. In fact, there is a start-up called Hubble specifically created to help you find the best co-working spaces in London. Fees typically include things like desk and office space, conference rooms, and printers. There are also administrative assistants with some packages.

Incubators and accelerators work in much the same way but they often come with funding from the city or private foundations. Organizations can be selected for placement in accelerators or incubators once they pitch their ideas.

The London start-up culture is creating opportunities for other businesses to thrive as well. London businesses often outsource things like IT support to keep costs down during the start-up phase. Companies can get services like remote support, infrastructure guidance, and onsite repairs without having to pay the salary of a full-time employee. This gives start-up entrepreneurs what they really want, time to work on the core of their businesses.

The London business culture is constantly changing. Recently, the number of new businesses being registered in England is increasing. Other countries, like Berlin, are attempting to woo start-ups away from London, but so far, without much luck. The increase of entrepreneurial ventures in London has been a boost, albeit a quiet one, to the city. There are now more businesses there than there have ever been – over 3.5 million.

Some of the reasons for this growth are the prospect of reduced regulation after Brexit, low tax rates for corporations, and highly qualified talent and flexible immigration policies. Already there are individuals who are re-routing from the US to the UK due to strict travel requirements.

These factors favor businesses in London and make starting a business and obtaining funding simpler than in other areas. Beyond the business basics, London is a thriving city full of history, charm, culture, and worldliness that make it attractive to the jet-setter crowd. Venture capitalists and angel investors can work on projects by day and network in one of the many pubs that line the narrow streets at night. A proper pint or a cup of tea may be all that is needed to seal the deal toward a new partnership.

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