Some say that London is made of brick and iron. Bollocks. London is made of rubber. How else could you explain it growing so big without ever blasting open?
The fun thing is that the Big Smoke isn’t showing any signs of exhaustion in its ongoing conquest. The buildings are getting taller, the areas are flourishing larger and the grass is growing thinner. It truly is a marvel of the modern day and age.
And, as always, where there is growth, there is an opportunity. So what are the new doors London has opened to the industrious mind?
42,000 new homes are expected to be delivered in London between 2015 and 2025. Given how high the demand for housing is today I wouldn’t be surprised if these numbers went up even higher.
That noted, nearly 50K of new homes can’t be treated as a standalone project. They come hand in hand with infrastructure. Roads, power and water supplies, schools, hospitals, fire and police stations, stores, malls and – of course – pubs are all welcome guests at the party.
London needs people capable of building, planning, analyzing and investing in real estate. If you have the skills, abilities, and expertise in the construction business – you will be a welcome (and wealthy) man in London.
The service industry
More houses mean more people. More people in London means more spoiled children used to getting a strawberry-watermelon-caramel latte at a snap of a finger.
Coffee shops, diners, and pubs are just the tip of an iceberg. As you can see from our own example, relocation to London can also be given as a service. So can anything else from taxing to coaching to beauty services.
The industry of internet-based businesses is currently at the top of the food chain in London. It is even recognized as one of the fastest growing business sectors in the city’s plan of economic development.
The plan is designed in a manner that emphasizes further development and supports new industrious beginnings in the niche of Information and Communication Technologies.
It is specified in the plan that the following aspects aimed at the enhancement of the industry are met:
- Internet coverage and affordable broadband access all over London
- Provision of incubators and business premises that effectively promote the e-business and motivate new blood to join the talent train
- Provision of measures that support the economic, environmental and social costs of running an e-business
- And much more
This has enabled the industry to grow and branch out even further thus effectively creating new niches that can stand out independently today.
Did you know that Fintech companies all over the UK are expecting an amazing growth of 88% in the next three years? The British government seems invested in this industry as they are planning to dominate the world with solutions from the financial sector. (Yes, the plans are THAT BIG)
And, frankly, who could wonder? Especially today when the banking sector seems to be an ineffective scam-bait that stumbles upon the same corner with traditional solutions when younger, hungrier companies experiment with IoT, Blockchain and much more.
So, while the majority of the banks is simply unequipped with the means to provide services of high quality in the digital era you have the chance to dominate the niche on its home turf – London.
Biotech is one of the more surprising guests in the list of London’s top industries, yet its claim for dominance cannot remain unseen any further. Especially not after the British biotech companies have raised a total of £1.2 Billion in 2017.
Digital advertising and marketing
Many business opportunities lead to healthy competition in the market. Healthy competition leads to high marketing budgets and colossal ad spending. In such an environment, there is no wonder that the industry of digital advertising is on top of its game right now in London.
So much so that the industry is enjoying stable growth for 8 years now with the dynamics seeming to be positive for even more years to come. The industry is now sitting on nearly 20 billion pounds with a lot of potential coming from content marketing, SEO, and social media.
Not all is gold that is digital. People also need… you know… stuff. And according to the data from CBI they need a lot of it as the manufacturing sector is currently on its 30-year peak.
“Manufacturers’ expectations for the year ahead point to output and export growth being maintained through this year on the back of continuing support from a burgeoning global economy.”
– Lee Hopley, chief economist at EEF.
The Big Smoke is filled to the brim with opportunities. Yes, it may seem like an overpopulated place to effectively compete for a place under the sun but one should really look under that hard shell to see that a man of appropriate talent will find a way to strive in the end.
So, if you are looking for a new playground for an innovative business idea there is no place as warm and supportive as good old London.