responsibility for 22 per cent of the UKs overall GDP, London is a city on a constant economic rise. In fact, Forbes Magazine recently declared Britains capital as the single most influential city in the world, beating the likes of New York, Paris andSingapore. But what makes London the best connected city in the world, attracting more business than any other in Europe? With the largest technology market in Europe and the strongest economy of any developed nation, London and the UK are thriving. Over a quarter of a million people are employed within the digital sector in London and with this comes the densest population of data centres in the European Union. For the new breed of technology companies along with established businesses, the connectivity and functionality offered by the cloud, telecoms and data centre infrastructure ensures business gets done. London is the centre of European telecoms, internet peering and cloud connect points from providers such as Amazon, Azure and Softlayer. It is the off-ramp for data and cloud traffic in Europe. Down to business Another key factor in Londons growth is the continued capital injection with recent reports suggesting nearly $10bn of VC investment since 2010. Such financial support, coupled with a flourishing technology market and improvements in infrastructure is making London the hottest location in Europe for tech startups. Londons business environment has turned it into a global digital capital; the tech sector alone has expanded twenty-fold since 2010 and is continuing to accelerate. This type of growth and continued investment in entrepreneurs and inventors will only see these numbers rise and the calibre of technology companies improve. It touches all industries from media, retail, and fashion, to fintech, insurance and home delivery with organisations like Just Eat and Deliveroo leading the charge in instant food delivery. Even leading domestic cleaning app Hassle was funded and conceived in the TechStars incubator in London. Diversity is a trait synonymous with London and its differing cultures, cuisines and religions and business in the city is no different. London, and the UK as a whole, offers investors a chance to involve themselves with a variety of businesses, from online fashion retailers, app developers and travel websites; the humble startup is fuelling Londons, and therefore Britains, growth.
Read more on business developments in London:
- Boris Johnson taking 800 London SMEs global with Mayors International Business Programme
- Unveiled: The Zac Goldsmith mayoral offering for London businesses
- £500m VC fund for European tech startups launched in London by Chinese investment firm
On the topic of business in the capital, weve revealed the 16 most British shopping streets that can be found in London. Like your products homegrown Look no further.Jason O’Conaill is client partner for international markets at data centre Infinity SDC
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