Member Article

Business big hitters proclaim #LondonIsOpen as Barclays sees post-Brexit uptick in startups

A selection of senior business leaders across the capital have echoed the Mayor’s declaration that #LondonIsOpen following June’s Brexit vote.

Figures from US giant Google, Barclays along with serial entrepreneur Baroness Martha Lane Fox and angel investor Sherry Coutu have all pledged their support to Sadiq Khan’s campaign.

The announcement has coincided with the revelation that Barclays has helped nearly 2,500 new business get on their feet since the EU referendum, with its startup borrowing figures up on the same time last year.

Commenting as part of the campaign, 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.”

Today’s announcements are part of the Mayor’s efforts to project a confident, outward-looking capital that remains unaffected by the buffeting winds of Brexit uncertainty and will remain open for business regardless of the outcome of the UK’s EU renegotiations.

Citing big deals in the past couple of months, such as US finance firm Wells Fargo and their £300m investment in their new European headquarters in London and the additional $100m investment committed to UK FinTech firms as part of Santander’s InnoVentures fund, industry figures have urged a business as usual investment approach to the capital.

Trumpeting the continued strength of London’s financial services sector, Ian Rand, Chief Executive Officer of Business Banking at Barclays, said: “Barclays has been here for 326 years and will be here for another 326 years.

“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.”