What to Know Before Basing Your Company HQ in London?

Before basing your HQ in London there are many key aspects you will want to consider to ensure you make the right decision. If you simply jump into a move and make a commitment without initial research, it can end up being costly. It can also tarnish the positive image and view that you have of London.

⚡ What Location You Want

First off, you are going to have to consider where you want your HQ to be located. This may be dependent on the budget you have, or it may be based on where your employees are located. When you are looking at locations, it is important to look at what an area can offer in terms of return on investment (ROI). You may be looking at areas such as Mayfair or Shoreditch, but you should try and consider as many areas as you can. For example, do not rule out Soho or London Bridge. Decide what your ideal location for meetings has to have, and then base your search around this. For instance, does it need to be connected to certain bus routes or underground routes? Does it need to offer large office spaces that can be fully serviced?

⚡ The Type of Office You Require

Once you have established what location you want to base your HQ in, it is then time to consider what type of office you require. Finding an office is not something that you have to do by yourself. You can get assistance and support from The Workplace Company, and they can help you find affordable offices in the location that you want. They can also suggest options that are on a short-term lease, fully serviced, or perhaps not serviced at all (dependent on your requirements and budget). When you are looking at the office you require for your HQ, always think as big as possible. You may only require something small right now, but what will you require in the coming years? Will your needs and requirements change?

⚡ Competitor Locations and Bases

Even though you are looking at basing your HQ in London, it doesn’t mean that you have to forget about what your competitors are doing. Looking at where they are based and located can aid your search. For instance, do you want to be close to your competitor, or do you want to be in a different area or borough of London? When you look at where competitors are based, you can see the potential offering in that area and see if it is suitable for your business.

⚡ Salaries and Employment

To get the location you desire, it is then important to start looking at salaries and employment. This is a big expense on top of a base, and it must be carefully planned. In London, you are going to have to pay employees the minimum living wage, or the London wage. You must take this into account and factor it into your budgeting (when you are securing a new location).