Starting a small business is a considerable feat. However, the intensity of the challenge before you can depend on where you’re based.
London is a battleground of some of the world’s biggest businesses. However, smaller firms can be found there also, fighting hard to establish a name for themselves amidst all the competition.
Additionally, it’s been a stressful time for many start-ups due to the pandemic, so you may need to introduce some additional measures to ensure things run as smoothly as possible. Though many firms are settling for surviving the pandemic, you should constantly be trying to move forward.
Keeping all of this in mind, here are some tips for starting a small business in London.
Narrow Down Your Location
London is a big place. You’ll find communities within communities here, with each borough having its own distinct feel and character.
Try to research which types of business are prominent in certain boroughs so that you can locate your firm more precisely. It’s important that you’re established amongst the competition and that you’re not an outlier in your businesses activities. People may arrive in a particular borough to trade with specific types of businesses, and you need to match their expectations.
Aim to pick a spot where you’re most visible too. Some firms can be found down back alleys or on the borders, but it’s best to be seen on a main street in a central position. That way, your small firm may be viewed as being more trustworthy and approachable.
Consider Storage Arrangements
Smaller businesses are often stuck for space, so it may be worth thinking about storage options. Fortunately, you have many in London.
Safestore has multiple high-quality storage units all over the capital. They don’t use business rates, and the amount of space you wish to rent is fully adjustable. Use their services as a flexible and affordable alternative to traditional warehousing. Store stock, tools, and equipment in their secure and efficient units.
Storage is an essential aspect of any firm’s running. Free up space, create a more comfortable and impressionable work environment, and ensure all of your processes thrive from there. Using a professional service may provide greater care, too, affording you more peace of mind in uncertain times.
Use London in Your Marketing
London carries a great deal of prestige for businesses. If you’re fortunate enough to be based here, you should try to celebrate that fact where possible in your company’s marketing.
You could feature iconic imagery of the capital in all your materials. Website banners, promotional advertisements, leaflets – it can all benefit from some London magic. It may highlight the legitimacy of your firm and give it an air of greater success.
Remember, some residents see themselves as Londoners first and their nationality second. While the mayor wants to build more bridges between London and the rest of the country, honing your London appeal is in your best interests as a smaller business. Build your local knowledge, and integrate your firm into the community.
Remember that you can save money here. Many people employ expensive special effects and backdrops to their promotional literature. London can already serve as mesmerising scenery, so you can incorporate it to save some money as well.
Keep the Universities in Mind
Smaller businesses need the best workers. You’ll need to recruit employees who’re eager to go the extra mile.
Many of the universities in London are world-class. It may be worth focusing much of your recruitment efforts on bright students who’re about to graduate. They’ll bring an unwavering enthusiasm to their role and may work harder to prove their place in the workforce.
Remember that an excellent first job can inspire loyalty and keep staff turnover rates low. Allow these workers to advance through your business, ascending to leadership positions in time. Eventually, you’ll have a wholly dedicated workforce.