Small Business Cities index shows that London needs to cut costsOctober 23, 2013
London First and the FSB have co-commissioned research to show how London fared as a location for small businesses compared with other major cities. The report creates a small business burden’s index which can be repeated in future years to provide trend data on London’s (and other cities’) performance.
The report found that London is the 7th costliest city for small businesses to carry out business activities in. This was based on assessment of tax, wage costs, pay versus productivity and the burden of government regulation.
London performed better however in the business and regulatory environment, based on difficulties in starting a business; and the access to market where London was third best.
The research was prepared by Volterra Partners for the FSB and London First and looks at the challenges faced by small businesses across the major European cities and beyond and examines what could be done to support this vital section of the business community.
The index covers 24 cities (focused on Europe but not limited to): Amsterdam, Athens, Berlin, Budapest, Copenhagen, Dublin, Helsinki, Istanbul, Lisbon, London, Madrid, Milan, Moscow, New York, Oslo, Paris, Prague, Singapore, Stockholm, Tokyo, Vienna, Warsaw, and Zurich.