Westminster is a world class location for business. Businesses choose to be in Westminster as it provides greater access to talent, networks, customers, finance, culture and inspiration than any other part of the UK.
Westminster is one of the world’s best locations for business. Westminster’s economy comprises 46,000 businesses, providing 600,000 jobs and generating £1.5Bn in business rates for central government. It is at the heart of both the London and national economy.
Our local economy is tremendously diverse. It is home to global leading clusters, from retail, to education, business services, creative and cultural industries and more. And whilst some of the world’s largest businesses are based here, nearly 85% of businesses in Westminster have fewer than 10 employees. This local economic diversity is absolutely critical to Westminster’s economic success and resilience. It is also integral to the character of Westminster as a fantastic place to live, work or visit.
Businesses in Westminster benefit from access to a world class talent pool and labour force drawn from across the south of England and beyond. Westminster is home to three of the best universities in the world: Imperial College London, Kings College London, and the London School of Economic and Political Science (LSE) along with buildings or departments from other major universities. The borough is also home to the Royal Academy of Music, the Courtauld Institute and the London Business School, all of which are part of the University of London. In addition, Westminster is home to the University of the Arts, University of Westminster, Regent’s College, and the London campuses of several American Universities.
Competition for jobs across all sectors is higher in Westminster than anywhere else in the UK at both entry and professional levels. Growth is supported by a mobile, educated and skilled workforce with over 40% of jobs in Westminster requiring qualification at level 4 or above which will increase to around 50% by 2020.
Westminster's economy: facts and figures
Paddington and Victoria are two major growth areas for Westminster and are two of the best connected business districts in London.
London's West End is the world's top cultural, entertainment , shopping and dining destination, with a global mix of over 2,500 restaurants and bars, 2,000 shops, 40 renowned theatres, 30 museums and galleries, 17 Michelin-starred restaurants and seven tranquil green spaces.
The vision of the West End Partnership is to make the West End even more famous as the destination for unrivalled shopping, dining, entertainment and culture through collaborative promotion and marketing.