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The Benefits of Running a Business in London, Ontario

July 27, 2023

Downtown offices in London, Ontario

London is a city that may surprise you with all it has to offer. Known to many as the “Forest City”, London is recognized not only for its many green spaces but also for its excellent post-secondary schools and thriving businesses. For these reasons and many more, London is not only the ideal place to live, but also to run a business. Learn the top reasons why your business should make a move to this diverse city.

Affordable Office Space

Compared to larger metropolitan areas like Toronto and Vancouver, London offers significantly more affordable commercial and office space to rent. With a growing number of office spaces available both in the city’s downtown core and beyond, business owners can find a space that meets their needs and budget without sacrificing location or quality. For example, at 114 Dundas Street, you’ll find flexible office space that can meet both your operating needs and budget, with a low estimated cost of around $10.13/square foot. Think of a Summit Property as a blank canvas, ready for you to shape into your dream workspace.

Accessible Location

For new or established businesses looking to grow, the Forest City may be a top choice, as it offers access to a large market, not limited by the city boundaries. London is ideally situated for businesses looking to serve both the local area and larger markets, as it’s conveniently located alongside the 401, providing easy access to nearby cities and smaller towns with a combined population of well over 600,000 people. With tons of available office and commercial space in the downtown core, like the iconic 148 and 140 Fullarton towers, your business can operate in a central location and benefit from your clients often being just a stone’s-throw away. Plus, the city’s proximity to rural towns makes it perfect for those looking to live outside of London but work in the city.

Supportive Business Environment

When you own a business in London, you have the opportunity to be part of a network of business owners, entrepreneurs, and industry experts that can help support your operations in a number of ways. Whether you need guidance on how to grow your business or recommendations for roles you’re hiring for, the London Chamber of Commerce, London Economic Development Corporation and TechAlliance are excellent resources. Plus, these organizations hold multiple events each year for those looking to network and share ideas, so you can expand your business while creating valuable connections with London’s business owners.

Skilled Workforce

London is home to several world-renowned post-secondary schools, including Western University and Fanshawe College. These schools offer top-tier programs for students studying business, technology, engineering, health sciences, and more, providing businesses in the city with access to a highly skilled and educated workforce. With a combined total of almost 65,000 students graduating from Western and Fanshawe, businesses operating in London have the unique opportunity to hire recent graduates to grow and learn within their organization.

Business and Career Growth

London’s business community is experiencing significant growth, with several key industries thriving in the city including the field of tech, finance, engineering, and healthcare. Since London is one of the fastest-growing cities in the country at 3% population growth year-over-year, it is an ideal place for businesses to grow. When you need to upgrade your space, trust a commercial property manager like Summit to help you find your perfect match.

Let Summit Properties Help You Find the Perfect Commercial Property

For those looking to grow their business or expand their operations, it’s no secret that London is an ideal place. Let us help you find that perfect place to grow your business! Reach out to a Summit Properties commercial leasing agent to learn about our available spaces.