Looking to Expand Your Business? It Might Be Time to 'Think London'

With corporate confidence in the economy on the rise (the U.S. unemployment rate notwithstanding), companies are finally starting to look beyond surviving and thinking instead about expanding their business.

This is nowhere more true than for green companies; although venture capital investments in cleantech took a hit with the economy, the number of investment deals is on the rise, as we showed in our 2010 State of Green Business report, and market demand for green products and services are projected to continue their steady growth.

For home-grown companies, especially smaller firms, tapping into the massive European market -- where the appetite for green is both broader and deeper than in the U.S. -- is a tempting but daunting process. The sheer scale of the logistics required to opening up shop overseas is enough to discourage growth.

That's where a group like Think London comes into play. The organization is London's official "foreign direct investment agency," a semi-public agency designed to make it easier for companies to plant a foot in the European, starting with London.

"Companies always have 20 million priorities, and they know they need to internationalize," explained Richard Stanaro, the vice president for North American operations at Think London, "but it's always on the back burner because it takes so much time and energy."

Setting aside your staff's time and money to focus on where in the world to locate is one huge task, but even once you've narrowed your search down to a single country or city, finding office or factory space and building a domestic infrastructure can be one or multiple full-time jobs.

Think London aims to take that work off a company's hands, and enable firms to hit the ground running on the business at hand. It provides companies with a range of mission-critical services, including advice on where to locate an office -- or the ability to lease a desk and receptionist -- as well as connections to local services like accounting and HR teams, business connections and introductions to local media.

The group, which is 80 percent funded by the London mayor's office, offers a rare service that seems too good to be true -- but according to companies I spoke with about their work with Think London, it's a dream come true.

"Generally, with an international expansion, having a local partner is key," said Albe Zakes, Vice President of Media Relations at TerraCycle. "Someone who helps you navigate a landscape you're not used to working in is essential. Think London provided that, and it was great to have them because we didn't pay them."

Yes, Think London offers its services for free -- the other 20 percent of its funding comes from its "business partner network," made up of law firms, recruiting companies, accountancies and other business services including "London First." These firms pay Think London an annual fee to be included in the network, and although it sounds like a recipe for a high-pressure sales push, companies I spoke with said that wasn't the case.

"Building a network of service providers was the most helpful part of our partnership with Think London," said David Brewster, President and co-founder of EnerNOC. "Think London introduced us to and provided really strong referrals for service providers that we work with. It was great for us to have that network built in when we plugged in, especially for critical functions like accounting and computing."

The London Advantage

Stanaro, Think London's VP in North America, laid out a number of London's benefits to companies looking for expansion, most of which were echoed by its partners.

In addition to being an economic powerhouse and a physical hub for the U.K., London has a booming venture capital market, one that Stanaro describes as the world's second largest, after Silicon Valley. And as the capital of the original English-speaking country, within easy reach of all of Europe's capitals, the city is often seen as a stepping stone to further expansion beyond U.S. borders.

But London also has a highly green-minded mayor, who has invested heavily in greening the city's buildings and launched a flagship "low-carbon zone" project in the city. And perhaps most importantly for companies looking to tap into a booming market, London is the home of the 2012 Olympic Games.