Top 5 London Business Trends
Thanks in large part to a global recession, one of the worldΓÇÖs powerhouses has adapted to the new times with new trends. Discover the latest big business changes in London.
London is the hot house where innovation grows fast, adapting to the new environment of the world, exporting expertise and taking in talent. HereΓÇÖs whatΓÇÖs been going on in 2012.
Finding Finance Elsewhere
Rather than approaching a bank in the days of tightening purse strings, young businesses in London are now taking advantage of business ΓÇÿincubatorsΓÇÖ run by the likes of Google and Vodafone where they benefit from free advice and office space.
There is also an increase in ΓÇÿcrowdfundingΓÇÖ websites, where crowds of people will offer small amounts of funding to get a company of the ground and hold a stake in its future.
Popping-Up for Business
Empty office space that is available on short term licence at competitive prices is being used increasingly as the home of the ΓÇÿpop-upΓÇÖ. This is a solution for cash-strapped business owners who canΓÇÖt sustain long-term renting or purchase agreements.
These office spaces serve as mini-shops or temporary spaces where larger retailers and small start-ups alike can sell their wares to the people of London without committing their finances.
All Connected, All the Time
Not all of London is Wi-Fi connected yet, but progress has been made in 2012. Virgin connected key spots of the London Underground, alleviating the pain of many a business commuter. It remains a free service until 2013.
This is one of a number of innovations set to push London along its path towards becoming always-on, ensuring that the door is always open and no one can escape the day job.
By now, most companies will have their data backed up in the virtual world to allow for emergency here in real life. Cloud computing, more than Wi-Fi, is what will connect business in the future. ItΓÇÖs not just about being on the internet; itΓÇÖs about accessing information without trying.
What is updated on your desktop computer is now updated on your tablet, your smartphone and your home laptop. Take a photo and it is published on your album. Recommend an article and everyone you know can read it too.
The Customer Really is Right
In todayΓÇÖs world of instant and uncensored feedback on social media and free ratings services for company performance, more than ever the customer can dictate the business.
With ratings published in search engine results and the easy search functions also on social networks, it is easier than ever before to discover whether a business is reliable, honest, trustworthy and deserving of your time or money.
Have you noticed any business trends taking off in the last 12 months? Is London heading for a whole new world? Share your knowledge in the comments.