Latest figures reveal Touchdown London office space scheme is a great success
According to new figures released by Think London, the official foreign direct investment agency for London, SME’s accounted for more than 70% of all new business investment in the capital last year.
In addition, a number of overseas SMEs expanding their operations in London during the past 12 months have been facilitated by Think London’s ‘Touchdown London’ initiative, which provides international businesses, looking to establish a base in London, with serviced office space at Avanta’s business centres in Hammersmith, Hanover Square and Devonshire Square, in the City.
The Mayor of London, Boris Johnson, said: “The opportunities for overseas businesses in the capital are unparalleled. London offers a combination of a highly skilled workforce, lower commercial property costs and a diverse social and leisure scene making this one of the most exciting, innovative and successful business locations in the world. We are investing heavily in our infrastructure and with the London Olympics around the corner there never has been a better time to come to London."
Early survey results from a sample of Touchdown London clients indicated “Cutting the time to market” as well as “Reducing the cost of initial market entry” as two of the most important factors in their decision to try the Touchdown London scheme. In addition, many claimed that as a result of the scheme they had saved between 1-3 months of executive time that otherwise would have been spent looking for suitable office accommodation.
Aspire Systems, an India-headquartered software company, moved into Avanta’s Hammersmith business centre in April 2009 following its success in both India and the US. Touchdown London proved the ideal catalyst for establishing its new European headquarters in London. “Touchdown has saved me months of time that I would have spent setting up an office and allowed me to focus on my business from day one,” comments Prem Sundaravadanam, Aspires System’s regional director (UK).
“London is central in terms of reach. A lot of our prospects are already in London and we are able to reach out to companies easily. We have already acquired two major customers and we certainly wouldn’t have been able to win their business without being here. Our London office is projected to employ five people by the end of 2010 and between 20-25 in the second full year of trading.”
Michael Charlton, Chief Executive of Think London, added: “When you combine this with the depreciation of Sterling, it seems that there has never been a better time for overseas businesses to invest in London. The capital’s flexibility as a business location makes it an appealing option for SME’s looking to tap into new growth markets, and the fact that our investment figures for 2009 have remained robust despite the difficult economic climate offers a clear sign of London’s resilience.”
London-focused serviced office space provider Avanta has witnessed growth in the number of international businesses taking space in its centres during 2009 and, as a result of supporting the Think London initiative for more than two years, the company reports that it’s satisfying to see the successes and benefits that the scheme has already provided.
For further information, please contact:
Colin Peck, Gravitas Business Communications on 07802 606433 or email colinjpeck@aol.com
or Anna Norman-Butler, Avanta Managed Offices Ltd on 0203 008 6000 - www.avanta.co.uk
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Note to editors:
Definition of SME used: A SME (Small and Medium sized Enterprise) is a company of 1-9 employees, with a turnover growth rate of less than 100% within three years.
Avanta was formed in 2004 by David Alberto. The company offers highly flexible, unbranded office space , with advanced and competitively price technology, tailor made to meet the requirements of the occupier. In the UK it currently manages more than 630,000 sq ft of office space in prime locations in London, the Thames Valley, Manchester and Edinburgh.
The Mayor of London:
Created in 2000, the role of the Mayor of London is to promote economic development and wealth creation, social development, and the improvement of the environment, in the UK''s capital city. The Mayor chairs several boards that deliver services for London including the transport and police authorities and sets out plans and policies covering: transport, planning and development, housing, economic development, regeneration culture, health and the environment. http://www.london.gov.uk
Think London is the official foreign direct investment agency for London. They are a not-for-profit private-public partnership and the experts on doing business in the capital. They connect international businesses to London, helping them set up, succeed and grow. Their service is comprehensive, confidential and funded.
Touchdown London is a start-up service dedicated to overseas businesses who wish to establish themselves in London. It has been created and is managed by Think London, the official foreign direct investment agency for London, and is offered exclusively to Think London clients. It is hosted by Avanta, the serviced office provider.
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