The prominent presence of international retailers in London is flourishing and for many reasons. Being the most popular and business-friendly market that it is, retailers from around the globe are flocking to this financial capital of the world to set up shop and integrate into London’s thriving economy. Being able to take part of the exciting and very active commerce is just one of many reasons why international retailers love London.
At this point in time, London is rated number one in Europe for the most attractive location for international retailers. The retail market in London is deemed to be considerable in size, very well established and transparent to the point where everyone can trust anyone (to a degree of course)
Why International Retailers Love London?
In addition to the reasons mentioned previously, there are more reasons why the individual foreign business owner with goods and products to sell would want to expand their business into London. Below is a list of the many advantages and benefits one can experience when opening a business in London.
- The UK makes it easy for new businesses to get established in the economy. In literally just 13 days you can file all the documents and complete all the procedures that need to be done to start operating your business.
- With a super low corporate tax of 28%, UK has the lower international competitive tax for foreign investors
- The economy not only encourages new businesses, but it also tries to break down as much of the entrepreneurial barriers that stand in the progress of international retailers
- Having the most transparent market and least corrupt government, London redefines the meaning of integrity in the way it does business and runs corporations
- The culture in London is rich and diverse, which makes for a great environment for a new and international retailer
- London is prominent in creative market industries such as fashion, TV, film, and design which is great for foreigners who are in the same market
- Having a presence in London means direct access to the world’s largest market which is made up of 27 member states and a reach of nearly 500 million
- Because the UK is so internationally minded, setting up business in London gives you free access to international links to other countries and major
- A vast abundance of resources and a demand for highly talented and capable laborers is another advantage for business owners because that means workers are available at competitive costs
- And finally, the overall quality of life in London is very prosperous and positive just like it’s market
Best Places for Retailers to Set Up Shop
If you’re really considering about expanding your business in London then there are a few things you need to consider. First and foremost, where would your retail shop be located? Location is everything and if you don’t have a good location then your exposure can only reach a limited amount of people.
There are four main shopping center areas in London; the Oxford Street, Covent Garden. Regent Street and Bond Street. Together they collectively accrue the largest retailer in Europe and if you’re in the middle of all these excitement, then you can bet you’ll also be getting a lot of traffic and activity.
The development of shopping centers and the opening of new malls like the Westfield malls is also a great indication to international retailers that London’s economy continues to thrive and become successful in many of its endeavors. When setting up shop, you want to gravitate towards these retail giants and high-end stores. Surround yourself with elements that you want to influence your own business with. Because eventually, you become like those around you and in this case that would be a lucrative and thriving business.
When you get connected to London, you get to be connected to an immensely vast retail market with an economy that’s as stable and enduring as its monarchy. There are a lot of things international retailers can learn from London when it comes to being successful in business and that’s just a few of the city’s admirable attributes.
By the way, if you still wanted to know the ultimate answer as to why international retailers love London? Well, it’s because London loves its international retailers. It’s as simple as that.