London Business 1000 – The issues affecting London’s business community
We attended a breakfast meeting this morning, during which London Chamber of Commerce and Industry (LCCI) and London Councils launched the London Business 1000, an annual local business survey for Greater London.
The survey provides information about the issues and challenges that affect London businesses, focusing on training, recruitment and retention, and ever-present migration issues.
In the flood of gloomy predictions, it is uplifting to know that such influential institutions like LCCI and London Councils are there to provide counsel to the Government. We hope that the Government acknowledges the hard work and effort that the Chamber and its partners put into gathering and collating the relevant information which enables all involved to form a realistic outlook on the economy in London and in the UK.
In relation to immigration, the London Business 1000 survey conveys that main reasons for employing EU workers, as well as non-EU immigrant workers, are skills, education and experience. It is not mere preference of foreign workers, or the claimed ‘cheap labour’ that businesses seek, but businesses need these workers to cover gaps in skills and experience in the UK labour market.
The main challenge that London and the UK face in the next few years is Brexit. Businesses, however, continue to trade and it is helpful to see that leaders in various industries see opportunities in the consequences of Brexit.
From the immigration point of view, we notice no decrease in numbers of high net worth applications (investors and entrepreneurs) and it is clear that the UK, and London in particular, are still attractive economic destinations.
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