London Mayor Sadiq Khan is preparing to tackle the pressing issue of the "cost of doing business crisis" at a crucial summit involving prominent firms such as Uber, Natwest, and KPMG.
More than 200 CEOs will gather at the annual City Hall business reception, hosted by the mayor, at the Crystal in east London today.
During the event, Khan is expected to emphasize the impact of the "cost-of-doing-business crisis" on the economy, while acknowledging the burdensome "cost-of-living crisis" affecting communities.
Khan will express his unwavering commitment to being the most pro-business mayor London has seen, stating that creating the right conditions for businesses to thrive will ultimately benefit the city's residents.
This initiative comes as the Labour Party intensifies its efforts to engage with the financial district, with leader Sir Keir Starmer and shadow chancellor Rachel Reeves leading the "scrambled eggs offensive."
Notable attendees at the summit will include Deloitte, D&D London, the British Beer and Pub Association, Tech London Advocates, Abrdn, The City UK, Business LDN, the British Private Equity and Venture Capital Association, the Federation of Small Businesses, Unibail-Rodamco-Westfield, and the Canary Wharf Group.
The mayor will highlight the support provided by the Grow London scheme, managed by London & Partners, which aims to assist UK and international firms in expanding their operations and creating future employment opportunities. Additionally, a "single front door" service will be launched in the autumn, offering comprehensive business advice to scale-ups and small firms.
City Hall envisions that Grow London will enable 400 growing companies per year, particularly those in the fintech and cleantech sectors, to successfully expand internationally.
Janet Coyle, the head of Grow London, emphasized the significance of a diverse range of businesses, both local and global, and stressed the importance of access to substantial growth capital and top-tier talent. Coyle welcomed the mayor's support, stating that it would facilitate continued growth for businesses in London, both domestically and internationally.