London named "best city in the world" to be a young entrepreneur

With recent news 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 per cent of Forbes Under 30 entrepreneurs being based in the UK.

With 16 per cent of UK investors looking to back startups and newly formed businesses it seems they will be given a suitable platform to continue the growth and progression of their companies.

Luke Davis, CEO of IW Capital, discussed 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 consumers 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.