Exclusive Q&A: London & Partners reveals booming London tech scene
“Swinging London” is back – and this time the stars are U.S. retail technology companies.
Chain Store Age recently spoke with Louise Conolly-Smith, Head of Creative, London & Partners, about the many advantages the U.K., and London in particular, offers U.S. retail tech firms looking to expand their business. London & Partners is the business growth and destination agency for London.
What makes London appealing to American retail technology brands?
London has always been a city of business opportunities. Companies like Meta and Google flocked to the city years ago and continue to grow their teams here. A working day in London overlaps with Asian, European and U.S. time zones which makes it a favourable destination for headquarters — plus the universal language and similar culture makes it a natural expansion choice for companies based in North America.
A global e-commerce boom — fueled by changing consumer habits — has resulted in Silicon Valley companies like Square and Stripe expanding their London presence as their customer base has grown.
One thing we see within our network of companies that we’ve helped set up is that they seriously accelerate their global growth once they’re established here. From being able to access a customer base that’s open to new technologies to bringing innovative solutions to market, we can see that London is a brilliant place to grow a retail technology business to a global scale.
Why should I consider expanding to London now?
London not only remained resilient throughout the pandemic, but has also recovered rapidly, attracting record levels of tech investment and scoring highly in terms of attractiveness to CEOs. London tech firms alone raised a record $25 billion in 2021, with over $5bn going to London’s digital shopping sector. Add to that a record year of IPOs on the London Stock Exchange, and it shows that the ingredients for scaling a successful tech business are more prominent than ever.
As we see global markets recover from the challenges they faced in the last two years, leaders are naturally looking at the next stage of their company’s growth journey. London captures it all: deep pools of investment, a collaborative ecosystem and forward-thinking consumers. The city scores highly on business friendliness and connectivity and right now, business leaders have a unique opportunity to join Europe’s No. 1 e-commerce hub as global markets open fully, catapulting their brand with accelerated growth.
What can I expect when I hire talent in London?
The talent of the London workforce is exceptional; that’s what the companies I work with always tell me. A melting pot of different nationalities and languages, the foundations of the city are incredibly diverse and this is reflected in the workforce. London is home to four of the world’s top 50 universities and there are plenty of platforms and networks to recruit ambitious and motivated graduates, as many stick around after they finish studying
The U.K.’s visa system has been refreshed with the aim to bring highly skilled talent to the country, so you benefit from a number of visa options that will help you recruit global talent. Tech fairs like Silicon Milkroundabout, coming up in May, are great avenues to get in touch with motivated individuals.
At London & Partners, we’re well-connected with agencies that specialise in recruiting tech talent so you can get the right skills in your team. This also includes outstanding Sales and Tech talent, as you’re likely to start there.
How has the COVID-19 pandemic accelerated e-commerce innovation in London?
Not only has coronavirus accelerated the shift toward online shopping, the U.K. customer is adaptive, innovative and tech-savvy, making London in particular a fantastic testbed for e-commerce. Research from Klarna shows that almost half of U.K. consumers make online purchases at least once a week, and we’re seeing a significant shift towards social commerce. E-commerce brands in the U.K. have access to an entirely new audience, not just Gen Z, as the 55-plus age group grew their social media shopping presence by 42%.
Not just established global brands, but also emerging companies in the e-commerce space are riding this new wave of innovation. Referral engineering platform Mention Me, digital wardrobe platform Save Your Wardrobe, and AI retail analytics platform Olvin are all key players in London’s startup community.
I recommend you give our new report with Klarna a read – we explore three key trends in digital shopping and the opportunities these create for innovative American brands.
How can London & Partners support North American businesses looking to expand?
We have a dedicated team in North America and on the ground in London to help you take advantage of London’s business opportunities from day one — confidential and free of charge. We can assist you in building your business case for London and provide you with sector-specific information to get you started. Whether you want to find the perfect distribution centre in Greater London or set up a sales and marketing team — we’re here to help.