According to a recent report, which contains a survey of more than 50,000 entrepreneurs, London is the seventh best city in the world to launch a start-up and has the largest start-up ecosystem in Europe.
In fact, London is in the top two cities in the world to start a business outside the USA according to the research, collated under the ‘Startup Output Index’, which is weighted for population size and maturity of start-ups in the region.
The research comes as one of the world’s largest cloud hosting companies, announced a major new programme for the UK of £12,000 of hosting and mentoring for start-ups under it.
Using cloud hosting means that start-up companies can save money by storing data in a variety of locations rather than paying for the rental of dedicated servers.
Although the report says that the UK is “no Silicon Valley”, the cloud hosting firm, whose start-up programme has helped more than 850 start-ups in the US, said that they saw parallels with London today and Silicon Valley in its early days, although of course the market now is tougher than it was then.
The Government are also continuing with plans to encourage successful start-ups to float on the stock exchange by loosening regulations surrounding companies that wish to do so.
These plans would provide a new route to an initial public offering (IPO) and a successful British IPO would be seen as a major success for the Government’s Tech City initiative, which is an organisation designed to promote the interests of UK-based start-ups in the global market.
Accountant, Jon Stocker, specialises in offering advice, support and guidance on matters involving personal tax planning, business decision-making and business start-ups.