At some point during the creation of a business, business owners are faced with a difficult decision.
Is it better to place your business in lively central London and risk blowing your budget? Or save money by having it in a different city but risk losing out on the opportunities that the Old Smoke might bring?
Having a W1D postcode can bring a fair amount of cred to a company, especially if you work in animation. Soho has undergone an enormous amount of gentrification since the 80s; what was once a seedy red-light district is now best known for hosting some of the most famous advertising, production, and publishing houses in the world – all within walking distance of each other. It’s a highly desirable location to have a business, as networking and organising meetings becomes incredibly convenient.
Of course, London’s no nirvana. Ask a Londoner what they think are the biggest challenges of working in England’s capital and they’ll no doubt answer without hesitation. London has become increasingly inaccessible to some business owners in the last couple of decades. A large population doesn’t only mean opportunities – it means business competition, too. On top of this, the ludicrous price of property makes it difficult for business owners on a normal income to find office space without running their company to the ground.
So, what’s the average business owner to do?
Clive Davis, a director from the financial recruiter Robert Half claims, “Over the last three years we’ve seen a number companies we work for move significant hubs out of London.” Places like Bristol and Manchester are becoming increasingly attractive to business owners. And why wouldn’t they?
In this tech-heavy world saturated with animation companies, video production companies, and startups, it’s impossible for all businesses to fit in Soho. This, of course, means a considerable amount of talent can be found elsewhere. When it comes down to it, location is irrelevant from a production point of view. As long as you have a fast internet connection and – if all goes well – a client meeting space, a young business can thrive.
But, when it comes down to prestige – as it often does in media – a W1 postcode will certainly give your company’s standings a boost in the video and animation industry.