Berlin a Popular Fall-Back Location for British Start-up Entrepreneurs
According to Berlin Partner, the city's economic development sponsor, the number of British companies inquiring about the requirements for setting up a company in Berlin has increased. About two dozen young companies from the United Kingdom are thinking about relocating to Berlin, and requested information about the city from Berlin Partner. The main reason for the growing interest in Berlin is the availability of skilled professionals, a sought resource. What Berlin has to offer in the eyes of British companies includes not just lower office rents but also a large pool of qualified employees. In fact, 70 percent of the queries concern the skilled labour pool, according to Berlin Partner. Just about as interesting is Berlin's cosmopolitan character. It makes it easier for international employers to settle in and find their way around the city. In the opinion of Berlin Partner, the number of European cities who offer a comparable ambience is limited and includes Dublin and certain cities in Scandinavia. Other cities often lack the international ambience that start-up companies fancy. This type of company likes to make sure that its staff feel at home in the city it picks as principal place of business.
Berlin is Home to a Thriving Start-up Scene
Another special aspect about Berlin that appeals to young entrepreneurs is the generally prominent footprint of start-up enterprises in the city. Berlin Partner believes that companies hope to benefit from synergy effects and therefore seek the proximity of other firms like them. The existence of international networks also plays a role in the site decision. After all, Berlin maintains city partnerships with Tel Aviv, Shanghai and New York City.
Berlin Stands to Benefit from the Brexit more than Other Cities, according to Experts
A recent survey done by the PwC auditing and consultancy firm supports the assessment by Berlin Partner that Berlin will derive growing benefits from the UK's decision to leave the European Union. Around 800 international managers from various industries were polled for the annual survey “Emerging Trends in Real Estate.” The experts estimate that four of the five most attractive real estate locations that qualify as alternatives to London after the Brexit lie in Germany. No less than 92 percent of the survey respondents believe that the Brexit will have negative consequences for the British real estate sector, and that investors will look for alternative locations abroad. In the respondents' opinion, the German capital tops the list of German destinations, ahead of Hamburg, Frankfurt and Munich.