With the London Olympics taking place amidst a challenging economic backdrop everyone is keen to predict the impact of the 2012 Games on London’s business community. Will the biggest event in our nation’s sporting history have a positive or negative effect on small businesses in the capital?
The Executive Offices Group completed a study of its London virtual office customers which reveals much about the attitudes of London’s small business community in the run up to the Games. As 80 per cent of its virtual office customers are businesses with between two and ten employees the results are largely indicative of small business sentiment.
Only 11 per cent of small business owners anticipate financial benefits arising from the Olympics in the short term, and interestingly small business entrepreneurs are more optimistic about the long term financial rewards with over 15 per cent believing that their business will benefit in the future. The Executive Offices Group used this data to create an infographic: