London Business News
Business in the UK is widely distributed, but London is where it's "at", as far as big decisions and huge profits are concerned. Naturally, being the city where political decisions originate (the houses of Lords and Commons both based in London, as well as Buckingham Palace for the monarch's representation), London will (and does) attract big business, if not just for its geographic proximity to the aforementioned sources of power and influence.
London as a whole is leading the UK environmental technology industry, and four of the top thirteen environmental consultancies are based in the city, proving that it's a trailblazer with regards to the latest developments.
London's financial district
On top of this, The City (London's financial district) is a massive boost to the UK's economy (and therefore its ability to lend to and support businesses). In 2004, £86,145 million was added to the UK's economy due to the extra finance brought in from The City. The City is the largest financial district in Europe (eclipsing those of France and Germany) and shares the title for the world's largest financial district with Wall Street in New York, NY.
Famed for its abundance of medical professionals, London's Harley Street in the City of Westminster has historical acclaim as being the operating base of a certain Lionel Logue (famous for treating The King's speech impediment), and has also been the area of choice for past prime ministers to reside in.
Independent financial services in London (such as hedge funds and private banking groups) often choose Mayfair as their area of choice. Being away from The City, it offers a more aesthetically pleasing surrounding and its town houses make pleasant backdrops to these business' premises.
Why London?
London as a general place of investment is popular for a number of reasons, such as its (in a financial sense) tougher-than-most regulations regarding disclosure (which in turn reassures investors) – It's for this reason that South African companies prefer the London Stock Exchange to their own native Johannesburg Stock Exchange (in fact, the value of African companies on the LSE is greater than those on the JSE!). This is combined with the added market 'security' and confidence that is often in-built when investors eye a company listed in London due to both its history and the ubiquity of traders' knowledge of its operations.
This same confidence rule applies to non-financial services businesses as well, with many businesses choosing to base their headquarters in London purely due to the connotations and 'decorum' associated with this. The majority of UK high-street shops and supermarkets are based in the capital. There are also practical reasons for this, such as the proximity to other businesses, the tendency for the rich and 'connected' to reside in the capital, and its infrastructure.
London has been recognised as being a desirable city for a long time, and has been confirmed by its hosting of the 2012 Olympics – something that doesn't just showcase the city's culture, but its excellent ability to be conducive to commerce.