News: Barclays said to have helped 2,500 businesses set up in the city after the referendum.
London’s business community along with Mayor Sadiq Khan are eager to stress that the capital is open for business post Brexit.
To boost these claims Barclays announced that it had helped 2,500 businesses set up in the city after the Brexit vote which saw the UK vote to leave the EU.
Barclays said that borrowing by new businesses is higher than at the same time last year.
To support the message being pushed by senior business leaders from Google, Barclays, Baroness Martha Lane Fox, Sherry Couto, and the Mayor, a campaign with the hasthtag #LondonIsOpen has been launched.
The idea is to show that London is united and open for business following the referendum result.
Mayor of London Sadiq Khan said: “Entrepreneurs, business leaders and investors cite London’s talent, creativity, innovation and dynamism as key to its long-term success.
“The message is loud and clear: London is open to business and investment from around the world.”
Barclays CEO of Business Banking, Ian Rand, said that the bank had been in London for 326 years and would be for another 326.
“London’s financial services system is world renowned making it the go-to place for international business and trade. London is open for business and we will play our part in ensuring it remains so,” said Rand.
A number of global businesses have pledged their commitment to London and the UK such as US bank Wells Fargo, which announced a £300m investment in a new European headquarter in London’s financial district. Amazon has also pledged to create an extra 3,500 jobs to be based in London and other locations across the UK.
Martha Lane Fox said: “We understand European markets, we understand US markets, so if you are going to invest, invest now.”
Investment in companies in London has remained strong since the Brexit vote with companies such as MarketInvoice announcing venture capital funding.
Eileen Burbidge, Partner at London venture capital firm, Passion Capital said: “VCs and investors are always attracted to London because this is where the best entrepreneurs are, and the highest level of ambition, so the best companies get founded.”
Santander has also recently announced that its London based venture capital fund had secured an additional $100m to invest in UK fintech companies.