It’s no secret that London is a global leader in commerce and business. The city has by far the largest amount of VC funding in Europe, with only San Francisco and New York ranking higher in global terms. Meanwhile, London is home to some of the largest and most profitable enterprises in the world, with the likes of Tesco, HSBC and AstraZeneca all being headquartered here.
However, to find out some of the most important business trends of tomorrow, it’s worth looking at what’s happening within some of London’s smaller enterprises. Let’s take a look at some of the essential London business stories that you should be paying attention to.
A content creation gamechanger
One business story that we are particularly excited about is that of MXX, a startup based in Lambeth that has seen some of the fastest growth out of any company in the city this year. MXX uses AI to help content creators automatically edit and assemble music videos. Their game-changing algorithm has already been used by thousands of YouTube creators, and the company has responded to soaring demand by increasing its office headcount by 460% this year.
A stalwart entertainment venue goes digital
Even some of the most established businesses in the city are not afraid of experimentation. One standout example here is the 122-year-old Hippodrome Casino in London’s West End. While they will still be serving up VIP gaming experiences to besuited guests, the Hippodrome has also undergone a major digital expansion, expanding its website to offer new slots online for players around the world. What’s more, the Hippodrome also offers live-stream poker sessions, broadcast from the heart of their ornate casino floor.
A grocery disruptor
As food prices are rising and food stocks become less reliable, one London company has found a way for people to save serious money on their weekly shopping, and we’re here for it. Nine Elms-based Oddbox delivers groceries made up entirely of rejected produce that did not make it to supermarket shelves because it was not aesthetically pleasing enough. Around 40% of British produce is wasted this way, so this is one great way to reduce food waste while also cutting down costs at a time of record rises in food prices.
Building accessible logistics
More and more people are quitting their day jobs and starting businesses of their own, with many of these new businesses taking the form of e-commerce sites. One business that foresaw this and has made a huge success catering to these entrepreneurs is Hoxton-based Huboo. This company provides warehouse space and logistics to e-commerce startups, allowing them to find the right storage and transport in just a few clicks. Others clearly think this is a worthwhile idea since Huboo recently received more than £90 million in funding.
In London, there is always something exciting happening. As these fascinating case studies show, some of the most important trends of tomorrow are emerging on the streets of the capital today. Watch this space to see how it plays out.
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