Where are the best hotspot start up areas for SMEs in London?

SE1 (Southwark, London Bridge, Waterloo) is the most popular location for SMEs to rent serviced office space in London, a new study reveals.

Flexioffices have recently conducted comprehensive research into the distribution of small to medium enterprises (SMEs) across London out-codes. SMEs were segmented based upon their sector, which allowed the study to compare the distribution of SMEs in each sector based on their out-code. The study used Flexioffices’ data from the past two years to determine that SE1 is the best place in London for a start up.

SE1 (Southwark, London Bridge, Waterloo) is the most popular location for SMEs to rent serviced office space in London. The total percentage of London SMEs which are now based in SE1 is 7.03 per cent.

SE1 (Southwark, London Bridge, Waterloo) represents a very large area of prime commercial property within London, and SMEs are increasingly choosing to position near themselves in this new extension of the city.

SMEs are attracted by the investment in landmark commercial properties such as The Shard, as well as the major transport hubs such as Waterloo and London Bridge for commuting.

SE1 (Southwark, London Bridge, Waterloo) was the most popular London location for SMEs in the majority of sectors including: business services, finance/commodities, health & wellbeing, media, IT, legal/law, property, not for profit, retail & recruitment.

NW1 (Kings Cross, Euston) is the second most popular location for SMEs in London. The total percentage of SMEs based in NW1 is 3.76 per cent. The location boasts exceptional commuter-friendly transport connections, including two of the UK’s busiest train stations – King’s Cross. St Pancras International. NW1 also offers an easily accessible route into Europe for SMEs via the Eurostar.

EC2A (Liverpool Street) is home to 3.57 per cent of London’s SMEs, although a relatively small outcode this area is the most densely populated.

EC2M (Shoreditch, Old Street) was shown to have total percentage of 3.14 per cent of SMEs in London.

Paul Slinn, managing director at Flexioffices, says, ‘There are numerous considerations that business owners, managing directors and entrepreneurs must address when choosing where to position their business. Location can make a strong statement about how a business wishes to be perceived to potential clients and partners. Maintenance costs and transportation must also be considered.’

Further reading on London

Owen Gough, SmallBusiness UK

Freddie Halvorson

Owen was a reporter for Bonhill Group plc writing across the Smallbusiness.co.uk and Growthbusiness.co.uk titles before moving on to be a Digital Technology reporter for the Express.co.uk.

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