Economic Fairness

 

London Living Wage

The London Living Wage is an hourly rate of pay, currently set at £10.55. It is calculated independently to reflect the high cost of living in the capital, giving a worker in London and their family enough to afford the essentials and to save.

However, organisations must choose to pay their employees the London Living Wage - higher than what they're required to pay by law. 

This is why the Mayor is championing the benefits of the Living Wage - to the lives of Londoners and to your business - and encouraging employers to opt in.

 

Good Work Standard?

The Mayor's Good Work Standard brings together best employment practice and links to resources and support from across London to help employers improve their organisations. The initiative has been developed in collaboration with London's employers, professional bodies and experts.

The Good Work Standard sets the benchmark the Mayor wants every London employer to work towards and achieve. Organisations able to meet the Good Work Standard criteria can apply for accreditation and recognition as leading employers from the Mayor.

 

Promoting London

London welcomes almost 25 million visitors and 110,000 international students every year. It is consistently rated the best place in Europe to do business.

But in an age of intense global competition, London needs to sell itself: to investors, visitors and overseas students. It’s never been more important to promote London.

London & Partners is the Mayor of London's official promotional agency whose mission is to tell London's story brilliantly to an international audience. 

London & Partners' purpose is to support the Mayor's priorities by promoting London internationally as the best city in the world in which to invest, work, study and visit. 

London & Partners is led by Chair Rajesh Agrawal and CEO Laura Citron. It’s a not-for-profit public-private partnership, funded by the Mayor of London and commercial partners.

 

Supporting business

 

London Growth Hub

The London Growth Hub is an online signposting tool helping connect London’s entrepreneurs, microbusiness and small and medium sized enterprises with the support that is available to help them start, sustain and grow. It brings together the capital’s vast business support offer into a single online resource which is supplemented by a programme of face-to-face business support.

 

Visit the London Growth Hub

The London Growth Hub includes:

  • a diagnostic support search tool, including over 500 support business schemes
  • a business support events calendar, which is regularly updated to include a personally curated list of between 250-300 events at any time
  • inspiring stories from businesses that have had support to start or grow their business
  • the London Open Workspaces Map – an interactive map listing over 400 workspaces across London
  • a wide range of resources, such as business idea guides and a comprehensive range of factsheets
  • online live chat and telephone advice
  • a personalised user profile allowing you to compile your favourite business support content

The London Growth Hub’s online offer is also supplemented by a programme of face-to-face business support pilots. 

The London Growth Hub was established by the Mayor and the London Economic Action Partnership (LEAP) as the gateway to business support in the capital. It is managed and delivered by LEAP.

 

Access to Finance

Due to cautious investing behaviour since the financial crisis, many businesses and SMEs are experiencing difficulty in gaining access to finance and investment, including micro loans, early stage venture capital, debt and equity as well as long-term or 'patient' capital.

To help address this finance gap in London, the Mayor is working with partners to establish a new SME Fund, and building on other initiatives such as the London Co-Investment Fund and the CAN Early Intervention Fund to help small businesses in the capital flourish.