Sadiq vows to help boost economic prosperity as London’s most pro-business Mayor 

• Mayor hosts annual Business Reception to celebrate London’s successes as a global hub for business investment.
• Mayor acknowledges ‘cost-of-doing business’ crisis and reaffirms his mission to make London a better, more prosperous place for all. 
• Mayor’s programmes have helped raise £6.5 billion in inward investment for London to-date. 

The Mayor of London, Sadiq Khan, will today host his annual Business Reception at City Hall, vowing to do all he can to help boost economic prosperity as London’s most pro-business Mayor.   

The Business Reception will be attended by more than 200 of London’s Chief Executives, entrepreneurs and business leaders, from across London’s many key economic sectors, representing its diversity and success as a global hub for business investment, including being the top destination for international tech businesses and Europe’s leading city for financial services.   

In his speech, Sadiq will acknowledge the ‘cost-of-doing-business’ crisis impacting London’s economy and will reaffirm his mission to make London the best place in the world to start, scale and grow a business.  

Sadiq will share the important work he is doing to ensure that all London businesses can access top-quality business advice and support, following a recent City Hall review of how that support is provided and funded.  

This includes the brand-new flagship ‘Grow London’ service, launched by the Mayor’s business growth and destination agency, London & Partners in May, to help London and international companies expand their businesses and create the jobs of tomorrow for Londoners. Through Grow London, start-ups and scale-ups can access a range of business support programmes and expert advice to help take their businesses to the next level.   

Sadiq will also announce a wider range of support for scale-ups and small businesses through a new ‘single front door’ advice service due to launch in the Autumn.  

In his Business Reception speech, Sadiq will reaffirm his commitment as London’s most pro-business Mayor. He is expected to say: 

“I understand that times are tough. Brexit, COVID, soaring inflation – all of these factors have combined to create one of the most testing periods for business - and industry - in living memory.  

“There is a cost-of-doing-business crisis casting a long shadow over our economy, just as there’s a cost-of-living crisis inflicting a heavy price on our communities. 

“This is why I’m more determined than ever to live up to my promise of being the most pro-business Mayor London has ever had.  

“Because I know that by working hard to create the conditions for you to thrive, our people will prosper too.” 

He is also speak about his work banging the drum for London as the best place in the world to start, scale, host and grow a business. He is expected to say: 

“My administration has supported more than 1,300 overseas companies to set-up and expand in London. 

“We’ve sponsored 70 international trade visits to the likes of the US, Canada, India, Japan and China. 

“And our programmes have helped to raise £6.5 billion in inward investment for our city.” 

On Grow London, he is expected to say: 

“This is our new flagship high-growth business support programme designed to transform how we meet the needs of start-ups and scale-ups in sectors such as FinTech and CleanTech. It aims to support 400 companies a year to expand internationally.  

“And, with the help of L&P’s expert teams around the world, we’re also working to attract new international business and investment to our city. 

“But this isn’t the end of our offer to business. It’s just the beginning. As your companies innovate and evolve to navigate today’s challenges, so too will the advice and assistance we provide.   

“Soon we’ll be launching an exciting new support offer for micro and small businesses in London.” 

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Janet Coyle CBE, Managing Director of Grow London at London & Partners said: “The success of London’s business ecosystem is built on a mix of international companies and home grown businesses. With access to high levels of growth capital and world class talent, London is a top place to start and scale a business. The Mayor’s support for London & Partners’ Grow London services will help our city’s businesses to keep accelerating their growth at home and abroad.”