New business start ups are not only important to drive the economy but also to create new ideas and companies of the future. With London being the driving business capital of the UK, London start ups are of keen interest to many investors and business communities. If you have an exciting, innovative and sustainable business idea, now is a great time to push forward with it. Below are some tips and links on how to begin with your London start up.
Once you have your idea, be sure to create a solid and professional business plan. The importance of this cannot be underestimated as the plan will ensure you have focus on your objectives and how you will reach them as well as being crucial in obtaining funding and investment from external sources. Make sure you highlight your target audience and how you will market and promote your product or service to them. Sale projections are crucial to understand the business potential and will be expected by investors.
There are plenty of investment groups and schemes in London that understand the importance of start ups and as such allocate funds solely for new business development. Below are a few to investigate:
British Business Angel Network
This network of venture capitalists is UK-wide and is an established and governed enterprise investing in new and exciting businesses.
Esmee Fairbairn Foundation
Established in 1961 by a leading city figure in memory of his wife, the Esmee Fairbairn Foundation often provides £26 million in grants a year making it one of the biggest independent grant/funding foundations in England.
With a number of separate funds for different business areas, GLE launched in 2002 and beyond providing funds also offers support with cash flow financing and asset investments.
For most start ups an office is a big expense that can be avoided by working from home or within a shared area. However, a prestigious London address can really boost your company’s image and a way of achieving this without huge monthly outgoings is via a virtual office. A virtual office is a service available to businesses providing communication, a postal address and an impressive image worldwide through a professional London presence, all for a very competitive price. Services usually include:
- Central London postal address
- London based answering service
- Unique telephone number answered in your company name
- Mail forwarding
- Messages and any correspondence scanned and emailed
Below are a few of the companies offering such services in London:
London Presence Ltd
A well respected part of the Made Simple Group, London presence are especially focused at assisting new business in the London area offering the whole range of virtual office services.
Specialising in virtual offices in the heart of London’s west end, W1 Office is an award winning virtual office provider.
Now you’re set up, all you need is focus, determination and the will to succeed!