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London is ‘the best place in the world’ to set up a business

The London Chamber of Commerce and Industry has revealed its belief that London is “the best place in the world” to locate a business.

Andrew Horne, media and communications manager for the organisation, said that he and his colleagues believed that many companies wanted to set up in serviced offices in London so they could grow alongside some of the best businesses in the world.

He added: “Success breeds success and for many this is reason enough to set up a company in London so they can develop alongside many of the world’s most innovative and profitable companies.”

A quality workforce, stable legal system, excellent cultural facilities and favourable time zones were also given as reasons for the popularity of the city.

Mr Horne added that London could not become complacent about its good standing, and improvement to the transport infrastructure was a constant necessity.

Rising rents and increasing demand in the West End of London have made the city the most expensive place in the world to have an office, it was reported last month.