Creating a start-up always involves plenty of challenges, comprehensive planning and risk taking, and this is never truer than in London. The UK capital may be renowned for being a financial hub and hotbed for businesses, but it is also associated with high costs and competition, which can be damaging for start-ups. However, research has found that London has better business survival rates than Berlin, Paris and Brussels. Ensure your start-up continues this trend, survives and thrives with the following advice.
“You need money to make money,” as the old saying goes. When starting a business, plenty of capital is required to cover various essential costs such as:
- Office space
- Equipment (computers, printers etc.)
- Staff salaries
- Insurance and legal fees
- Website design/hosting
In London, such costs can be higher than other areas of the country, especially when it comes to buying or renting office space. There are various grants, loans and funding opportunities available to start-ups which can cover or partially help with these vital costs. The UK government offers start-up grants and loans, often dependent on the sector in which the business is based. Grants are the best option, where possible, as they do not have to be repaid.
Setting up a start-up doesn’t mean you have to buy or rent overpriced office space. Many businesses use virtual offices, providing them with the professionalism of an esteemed London address but without all the extortionate costs. Then they either work from home or use office space on a pay as they use basis.
However, when it comes to meeting clients, investors and others, to maintain a professional image you need somewhere to hold your meetings. citizenM offer some high quality meeting rooms in the heart of London with excellent views, free Wi-Fi, food and drink, so you can really impress future staff, clients and investors.
In the early stages it is important to cut back on costs where possible, without damaging the quality of the products or services your business is creating. As well as avoiding expensive office space, other overheads can be acquired in a cost-effective manner.
For computers and electronic equipment, seek it out second hand rather than purchasing everything brand new. Alternatively, as everyone has a laptop nowadays, ask your staff to bring in their own (by offering an incentive). Only pay for overheads which you are going to use too, a start-up with five staff doesn’t need more than one printer, for example.
Build a Strong Team
London is home to over eight million inhabitants, and while they are definitely not all of working age, it provides a huge pool of talent to help build an excellent team. Advertising in the right places can ensure you discover the best staff who are passionate about your business.
Depending on the industry, you may also be able to make use of free or cheap interns, especially given the vast number of students, universities and colleges there are in the capital. This is by no means a long-term solution, but it can be cost-effective in the first few months.
Prepare for Volatility
Be prepared. Especially with the ongoing Brexit negotiations, there is a lot of uncertainty surrounding London’s future. While every industry goes through ups and downs, so you need to be financially and mentally prepared for future challenges. Create a back-up plan in the event that you lose significant customers or clients, both to deal with such a blow financially and on a day-to-day basis.
If you follow these snippets of advice then creating a start-up that survives the competitive, unpredictable yet potentially rewarding London landscape is definitely achievable.
SkyBridge Receives “Exporter of the Year” award from Global Chamber Phoenix
The SkyBridge air logistics project received the “Exporter of the Year, Services” award, granted by the Phoenix Global Chamber within its annual Grow Globally Fair, which brings exporters and importers together, along with international investors.
The award was presented to SkyBridge, a company chaired by Ariel Picker and directed by Felipe Monroy. The effort to position www.skybridgeaz.com as one of the leaders in the international logistics sector within the business community in Arizona has been coordinated by Marco Lopez, president of Intermestic Partners.
SkyBridge is planned to become the first international air cargo hub to house Mexican and US Customs in the United States.
Its operations are based at the Phoenix-Mesa Gateway Airport and will allow e-commerce companies and manufacturers, among others, to do business in Mexico and throughout Latin America, with a more efficient and profitable transport of goods between countries, thorough inspections and adequate security controls.
The development of this project will create 17,000 new direct and indirect jobs, as well as more than 3.5 million SF of development which will include industrial, aeronautical, office and commercial real estate.
The construction plan will detonate other benefits in the border region. Arizona’s proximity to Mexico and its surroundings are highly favorable for business, and they make the state a natural center for air cargo companies, large and small, eager to see their businesses grow on both sides of the border.
In this sense, Grow Globally Fair gives global business leaders the opportunity to see what’s new, who is new and how they can grow better.
With that purpose, the Phoenix Global Chamber awards prizes in honor of the success achieved in international markets and in the United States, whose categories are: Exporter of the year, product; Exporter of the year, services; Importer of the year; Landed Company to see; Cross-border consulting; Transcendent leader of the community; International banking; International commercial law; Immigration lawyer; Diplomat of the year; Translation and localization; International logistics; International accounting and taxes; International finance and insurance; International Emerging Risk; International Talent and Payroll: International Real Estate Leader; International wealth management; International business training and discourse; International IT services; International market; International education; Collaborating Organization; International nonprofit; International business city; an Elected leader with global mentality; Young Global Leader, and Global Leaders of the tribe of the year.
Axel Andorff and Carsten Isensee, new SEAT Vice presidents for R&D and Finance
The Spanish car company, SEAT is betting on the future by hiring two prestigious new executive vice presidents. The company hired Axel Andorff as the new executive vice president of R&D (research and development), and Carsten Isensee has been appointed as the new executive vice president for finance. With both appointments, SEAT is focusing on Innovation and securing the company’s record profit and investment figures.
Who are Axel Andorff and Carsten Isensee
Research & Development and Finance are two of the most important areas on a car company. The new vice presidents of these areas, are both executives with international experience and extensive knowledge on the car market. Axel Andorff will be replacing Dr. Matthias Rabe (who will run the technical development operations area at Volkswagen), and Carsten Isensee, who is taking over for Holger Kintscher (who will be working as head of IT and finance at Volkswagen).
Let’s see who are these two new incorporations to the SEAT executive staff.
Axel Andorff (R&D Vice president)
Axel Andorff is a German economic and mechanical engineer (from the German University of Kaiserslautern), with 20 years of experience at the car market, where he worked for Mercedes and held various positions in the research & development area of that company.
New responsibilities at SEAT
The new R&D vice president will be in charge of the company’s innovation projects, especially those involving connectivity and car electrification, developing technologies and new forms of mobility. He is in charge of the SEAT Technical Centre, who is focused on R&D. It has an area of 43,000 square meters, prepared and equipped (of a total area that covers a surface of 200,000 square meters). More than 1000 qualified engineers work on this center, using advanced technology (simulations, virtual reality…) to create modern and reliable cars, and developing new car technology.
In 2018 SEAT allocates 862 million euros on total investments and R&D expenses, 47% more than in 2017.
Carsten Isensee (Executive Vice-President for Finance)
Carsten Isensee has a degree in business management from the German University of Wilhelmshaven, and he has made his entire career in the Volkswagen company. His last charge was in China as an executive vice president for finance.
2018 was a historic year for SEAT. Sales have grown by over 10%, increasing from 468,400 sold vehicles in 2017 to 517.600 in 2018. With the incorporation of Carsten Isensee to the company, they expect to continue increasing their sales along 2019 and the next years.
New responsibilities at SEAT
The Finance vice president joins the Spanish car company with the objective of reinforcing the company’s profit record and investment figures, and to strengthen its financial basis for future Automotive (LINK NOFOLLOW) projects.
The car market is a very competitive sector. Last years SEAT increased its figures on sales, profits and investments. With the new vice presidents incorporations, the company is focusing on increasing these figures and securing its position on the market.
As SEAT president Luca de Meo said: “It’s time to look to the future with the ambition to grow”.
Gutemberg Dos Santos and Robert Kiyosaki share their vision of leadership
Gutemberg Dos Santos is a Brazilian-American entrepreneur and one of the main promoters of the use of Blockchain technology and crypto economy.
Gutemberg Dos Santos a couple of years ago sponsored an event in which the Guinness Record broke with the largest number of people playing Cash Flow, a game developed by Robert Kiyosaki. Today, Dos Santos shares some reflections that emerged on that occasion about what a good leader is.
A good leader is an excellent guide to reach common goals. If I want my team to work successfully I must share my skills and offer the best tools for their performance. I am also committed to strengthening the capabilities of each of the members and never assume that we all work the same as diversity enriches and complements the unit.
Sharing experiences. If I share my experiences with the rest of my team regarding the success and failures I have had in some projects, I will empathize with my team and together we will be able to reach the goals proposed for the company.
Listening. This part is essential for a business to
Motivating my team. I take my time to know my team, how old they are, what is their educational and socioeconomic level; what goals they pursue in the short and long term. This will help me find keywords that guide me to be empathetic with them and be able to have better communication.
Being proactive. When facing a difficult situation, I try to get the best out of it, without falling into frustration and rather detect alternative solutions. Trusting and being flexible. I am attentive to the capacities and strengths within my work team, this way I trust people in order to delegate tasks, likewise I am open to
For more information, please visit : www.gutembergds.com
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