16 March 2016
Download Clusters and connectivity: The City as a place for SMEs full report (700KB)
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This research report analyses the opportunities that a location in the City offers and the challenges emerging from increasing pressure on SME (small and medium sized business) workspace. The City is a thriving place for 16,000 firms with fewer than 250 employees (SMEs). These businesses make up 98.6% of all businesses located in the Square Mile and employ around half the workforce.
Jointly commissioned by the City of London Corporation and the City Property Association, and prepared by Ramidus consulting, this report finds that SMEs strongly value the City's offer as a place to do business. In particular, many singled out the connectivity both in terms of links to other businesses and the dense transport network. The ease with which they could attract skilled staff was also highly rated. Pressures on space though are increasing, with vacancy rates at 3.9%, the lowest level since 2001.
This report sits alongside our previous report Future Workstyles and Future Workplaces in the City of London. Together these reports offer a perspective on the changing nature of the City's economy and the corresponding future requirements of the City as a location and physical space.
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