With recent exciting news emerging that London has been named the best city in the world to be a young entrepreneur, 2022 is predicted to be a prolific year for entrepreneurs and small businesses throughout the UK.
London beat New York to win the crown with 115 entrepreneurs in the Forbes Under 30s list being based in the capital, the UK also ranked second in the most popular countries list with 14% of Forbes Under 30 entrepreneurs being based in the UK.
Small businesses and SMEs being run by young entrepreneurs have adapted in amazing ways in the UK not just to survive, but to flourish, they are now more versatile, robust, and ready for the future. With 16% of UK investors looking to back start-ups and newly formed businesses it seems they will be given a platform to continue the success and progression of their companies. The community and investors are ready to back small businesses and small businesses are ready to maximise this exciting opportunity not only in London, but throughout the entire UK.
Luke Davis, CEO of IW Capital, discusses the young entrepreneurs in the UK and the small businesses they are running:
“It is fantastic to see London being named as the best city in the world for young entrepreneurs, but it is no surprise. Small businesses and SMEs throughout the UK have, in many cases, pivoted and grown throughout the past two years which has been truly inspiring to see. SMEs and the individuals that run them are incredibly inventive and versatile with their companies and making sure they are at the forefront of the UK business scene. It is therefore hugely encouraging to see that consumer and investors alike are recognising that SMEs have now become an indispensable part of the UK economy.
There is a huge amount of ambition and talent throughout the UK (not just in London) small business ecosystem, and it is exciting times for SMEs, both from an investing and business standpoint. At IW Capital we are always searching and looking to invest in small businesses in their growth journey to provide them with the opportunity to thrive and succeed. It’s great to see the shift from the UK public to have the desire to choose small businesses which paints an optimistic picture for the coming months which are normally crucial for businesses”
