London best place to do good business, say Indian and US firms

Mayor Ken Livingstone’s visit to India, strengthening bi-lateral ties between the two countries, is an important step in carving out an ‘economic ambassador role’ for London, helping to stimulate jobs and inward investment. Interestingly, London was seen as a good place to do business for ethics as well as profits, underlining the advances in corporate social responsibility that have been made by the City over the last 10 years.

A few days ago a survey by Think London, the inward investment agency here, was published highlighting London as a based for Indian and US companies, finding that they grow faster in London than in any other European city. Here's how it was reported in the India Times:

The research found six out of ten Indian and US companies surveyed believe the city offers the best return on investment for expanding into the global marketplace.

This is the first time that a survey of foreign direct investment has taken into account return on investment (ROI) and growth, as well as corporate social responsibility and environmental factors when establishing the performance of European cities.

The report identifies three key factors as being most important to Indian and US businesses when expanding into Europe, with London playing a significant role.It was observed that companies generate a better ROI in London than anywhere else in Europe - four times as many US and Indian companies in London compared to other European cities feel that their ROI is "significantly higher than their other European offices".

Indian and US companies grow faster in London - Half of Europe-based companies and four out of five London-based companies say their group's London office generates the highest revenue compared with other European locations. Even amongst offices based in Continental Europe, three in five say it is their London office which has seen the "biggest increase in revenue over the last two years."

London is the best location to offer the softer factors such as corporate social responsibility and environmental best practice - 46 per cent of Europe-based respondents identify London as an ideal location for best practice in environmental strategies and corporate social responsibility.