Posted by Claus Andersen, Partner
On 1 September 2016 Withy King LLP merged with Royds LLP. The trading name for the merged firm is Royds Withy King. All content produced prior to this date will remain in the name of the firms pre-merger.
European Tech Capital is London
A recent report has revealed that London is now considered the technology capital of Europe, after attracting a record number of overseas technology businesses in the last year.
Figures recently published by the Mayor of London revealed that during the last year, 90 European technology businesses relocated to London, an increase on 2012’s figures, with many starting up in the Tech City area.
According to the figures, half of the technology companies who relocated to London last year were from America, whilst a handful was from China and the rest from Europe.
The increase in technology firms opting to operate from London, particularly the Tech City area, has raised hopes that a new economic powerbase is being created, which will remove the dependency on the financial sector.
In addition, the latest figures have revealed that the largest investment in London from a technology firm, during the last financial year, equated to £1 billion and came as a result of Google creating its new European headquarters close to King’s Cross. Overall, 260 foreign businesses invested in London alone.
The latest figures follow previous proposals outlined by the Mayor of London, which aim to make London the tech capital of the world; and for those businesses looking to relocate to London or the rest of the United Kingdom, our commercial and corporate lawyers at Royds can assist by providing tailored legal advice.
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