London's Businesses Look to Move after Brexit

AS IT IS 2016-07-22 London's Businesses Look to Move after Brexit

Ten London start-up businesses have made inquiries¹ about moving to Berlin since Britain voted to leave the European Union.

The business development group Berlin Partner made the announcement Monday.

Each of the new businesses have between 10 and 18 employees.

These small businesses are concerned about issues such as the cost of commercial property, the labor² market, and the availability of accommodations.

Berlin Partner Director Stefan Franzke spoke³ at a news conference. He said that financial technology companies, known as fintechs, have shown the most interest in moving to Berlin from London.

Along with other European cities, Berlin wants to attract companies in London's fintech industry. The German capital says it is an affordable⁴ and resourceful substitute to other cities.

Berlin's Senator⁵ for Economics⁶, Technology and Research, Cornelia Yzer, has sent hundreds of letters to British firms. She also has travelled to a conference called London Fintech Week. Yzer wanted to encourage start-up leaders to move their businesses to Berlin.

Other companies, such as Berlin Partner, are also attempting to get start-ups to move to Germany from London. Berlin Partner has launched a website in English that has information about how to set up a business. The company is also going to open an office in London in October to try to woo more companies.

A report by the accounting⁷ company Ernst and Young said Berlin attracted more than $2 billion in investment capital for start-up businesses in 2014. That is more than London in the same year.

Franzke said that the cost of living, skilled workers and the widespread use of English give start-up businesses a reason to come to Berlin.

The German capital has about 100 fintech start-ups. These include German mobile financial services firm Number26.

Franzke said he expected Berlin also to get inquiries from foreign start-ups that were interested in London, but are now considering other countries.

The competition among cities that want fintech companies will be tough. Franzke says he considers Amsterdam to be Berlin’s biggest competitor. The Dutch city used to be home to a number of global banks and has fast data connections.

Words in This Story

start-up – n. a new business

inquiries – n. a request for information : an official effort to collect and examine information about something

accommodation – n. a place where people can live, stay, or work

affordable – v. to be able to pay for (something)

encourage – v. to make (something) more appealing or more likely to happen

woo – v. to try to attract (someone, such as a customer, voter, worker, etc.) : to attempt to persuade (someone) to buy something from you, vote for you, work for you, etc.

1 inquiries   

n.调查( inquiry的名词复数 )；疑问；探究；打听

参考例句：

• He was released on bail pending further inquiries. 他获得保释，等候进一步调查。
• I have failed to reach them by postal inquiries. 我未能通过邮政查询与他们取得联系。 来自《现代汉英综合大词典》

2 labor   

n.劳动，努力，工作，劳工；分娩；vi.劳动，努力，苦干；vt.详细分析；麻烦

参考例句：

• We are never late in satisfying him for his labor.我们从不延误付给他劳动报酬。
• He was completely spent after two weeks of hard labor.艰苦劳动两周后，他已经疲惫不堪了。

3 spoke   

n.（车轮的）辐条；轮辐；破坏某人的计划；阻挠某人的行动 v.讲，谈（speak的过去式）；说；演说；从某种观点来说

参考例句：

• They sourced the spoke nuts from our company.他们的轮辐螺帽是从我们公司获得的。
• The spokes of a wheel are the bars that connect the outer ring to the centre.辐条是轮子上连接外圈与中心的条棒。

4 affordable   

adj.支付得起的，不太昂贵的

参考例句：

• The rent for the four-roomed house is affordable.四居室房屋的房租付得起。
• There are few affordable apartments in big cities.在大城市中没有几所公寓是便宜的。

5 senator   

n.参议员，评议员

参考例句：

• The senator urged against the adoption of the measure.那参议员极力反对采取这项措施。
• The senator's speech hit at government spending.参议员的讲话批评了政府的开支。

6 economics   

n.经济学，经济情况

参考例句：

• He is studying economics,which subject is very important.他正在学习经济学，该学科是很重要的。
• One can't separate politics from economics.不能把政治与经济割裂开来。

7 accounting   

n.会计，会计学，借贷对照表

参考例句：

• A job fell vacant in the accounting department.财会部出现了一个空缺。
• There's an accounting error in this entry.这笔账目里有差错。