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Although it has been moved from its usual summer slot in the television schedules, the signs are that the BBC’s flagship show The Apprentice is currently being filmed on the streets of London. This means that the latest installment is likely to be aired in the autumn of 2014, as business hopefuls from all around the UK compete for a commercial partnership with Lord Sugar. Despite the fact that Lord Sugar is based in the heart of London, however, one of the most commonly asked questions of the Apprentice is why more of the show is not filmed in alternative regions of the country?
3 Reasons Why You Should Launch a Business in London
Aside from the occasional trip to Birmingham or Manchester (and the rare sojourn out of the UK), the Apprentice candidates are generally forced to compete in the nations’ capital. This reflects the typical outlook of young entrepreneurs in the modern age, who are encouraged to launch their venture and pursue long-term success in London. There are numerous reasons for this, including the following: –
- Perception
Despite significant regeneration in the North of England and huge levels of growth in cities such as Liverpool, Manchester and Birmingham, there is a general perception that London remains the place to be for ambitious entrepreneurs. This not only creates a unique buzz around the city, but it also ensures that business owners have access to a host of resources in their quest to succeed. The perception of London as a commercial hub is also shared by customers, which means that many flock to the capital in the search for unique and high-end items.
- Trade Links
While it may not be based in the centre of the country, London has excellent trade links with coastal regions, Europe and regions further north in the UK. This is particularly beneficial for product orientated businesses, as they can typically create a larger and more efficient distribution chain for their goods with London as a base. The inflated cost of living in London also offers potential advantages to entrepreneurs, as they can easily source materials from cheaper regions around the world and drive higher profit margins when executing sales.
- Reach out to an Engaged Target Market
If we consider London as the commercial and cultural hub of the UK, it is clear that it should be a popular meeting place for consumers from across the country. While London residents have the highest levels of disposable income in the country, visitors to the region also intend to spend prolifically and this creates a captive demographic of engaged and motivated consumers. So if you can source an affordable and competitively priced commercial lease, you can easily target this market and boost your levels of turnover.
