1,000 entrepreneurs to set up shop in New Zealand Embassy

Westminster Council press release

1,000 entrepreneurs to set up shop in New Zealand Embassy

A new London business hub will see 1,000 entrepreneurs set up shop in the New Zealand embassy, council chiefs announced today (6th July).

The move is part of Westminster council's first ever Enterprise Manifesto dedicated to supporting new business in the heart of the capital.

The manifesto sets out the council's commitment to fighting for a fairer deal for Westminster businesses, helping start ups and promoting the city to visitors and businesses.

At the heart of the manifesto, which is supported by the London Chamber of Commerce, are plans for "Hub Westminster" based in New Zealand House on the Haymarket, Piccadilly.

The 12,000 square foot space will act as a world-class incubator for businesses providing the best elements of a serviced office for 1,000 entrepreneurs and start-up businesses who will share the premises with embassy staff.

Once launched in the autumn the facility will be entirely self financing and give residents and other small businesses the chance to base themselves in the heart of the country's capital offering them network events and the best possible chance to succeed.

Councillor Brian Connell, Westminster Council's cabinet member for enterprise and skills, said: "Westminster starts from an incredibly strong base but we want to do more to help local businesses grow. We can't do everything but we can target our limited resource wisely to maximise growth.

"Competition breeds successes and we're up for the challenge. We want to see Westminster's 33,000 firms succeed and attract more commerce to the area. We want to cement Westminster's position as the enterprise capital of Britain."

Chief Executive of the London Chamber of Commerce Colin Standbridge said: "The London Chamber of Commerce and Industry is delighted to be able to support Westminster Council's Enterprise Manifesto.

"Westminster has an enduring appeal as a business location but with all local authorities facing reduced budgets over the coming years now is not the time to be complacent.

"Local councils in London can and should play a vital role in driving a private sector-led recovery and we urge others to follow Westminster's lead and redouble their efforts to attract entrepreneurs into the capital."

Westminster's 33,000 businesses generate around 2% of the country's GDP and contribute more than £1billion in business rates which is redistributed elsewhere in England.

The council is continuing to lobby the Government to retain a fairer share of business rates as well as working towards becoming self-sufficient to allow greater investment.

The Government has already indicated that it is going some way to agree with Westminster Council, allowing local authorities to keep a greater proportion of the money they collect, although the detail is yet to be announced.

The council will also continue to support Business Improvement Districts and open the city's fifth Business Information Point, based in libraries to ensure residents have the best possible access to information and resources.

All schools in Westminster are also to be offered the chance to take part in the Young Enterprise scheme thanks to a boost in funding from the council.

The programme is aimed at giving budding business men and women the chance to learn skills and develop confidence while still at school.

Pupils have the chance to form companies or social enterprises, raising real finance by selling shares, opening their own company bank account, marketing their product or service and trading with the public.

Some schools in the city already operate the scheme but now Westminster is to spend £20,000 rolling out the programme to give young people a head start to their careers.

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