Communications 'make London best for business'

Firms have been advised that London is the best place for them to set up shop as it has excellent communication systems, including voice over internet protocol (VoIP) services.

Think London research manager Marc Hardwick claimed that the capital was clearly the number one place in the UK for business, with other factors including available office space, good transport links and easy access to markets also contributing.

"Looking forward, business prospects are good and seem to support decisions of companies to relocate to London," Mr Hardwick stated.

The benefits of the city are attracting foreign companies to London, he added, with some firms using a location in the Big Smoke as a springboard to opening businesses in Europe.

The opportunities offered to firms by the London market are set to continue with economic growth in the City expected to exceed that of New York and Paris in the coming years, as Mr Hardwick noted: "[London] will become the fourth largest economy in the world by 2020."