If you are planning on moving to London soon, one of the first problems you will face is how to earn a living in your new home city. Although you can target finding a job in the short term, it may be better to consider building your own business in the longer run. There are several good reasons for this.

First, a business allows you a degree of independence that a conventional job can’t match. You can decide your destiny to a certain extent and follow your dreams. The reality of working for yourself might not always be this attractive, but if you persevere through the struggle, you can reap the benefits – both financially and personally.

Indeed, London is a fantastic place to start a business. It is a thriving metropolis built on trade and is the world’s financial capital. British laws are favorable to enterprise to the extent that few European nations can match, and numerous grants are available to certain types of business.

If a London-based business sounds enticing to you, here are a few ideas to help you get started:

Start a black cab business

One of the most enduring businesses in London is becoming a black cab driver. These cabs are an enduring part of the London landscape and an instantly recognizable symbol of the British nation. Although you might imagine black cabs are somewhat quaint in the era of smartphone-ordered Ubers and rentable scooters, these venerable cabs continue to be popular means of transport.

Not only is this due to the number of tourists who want to catch a lift in these artifacts of British heritage, but because they are incredibly convenient for pedestrians to flag down. Moreover, modern black cabs are ahead of their time because they are electric. This means they can enter low or zero-emission zones (which will become increasingly prevalent over the next few years). You can typically find used taxis for sale online.

Become a tour guide

Another great business to consider if you are moving to London is to become a tour guide. This is ideal if you lack the high-income skills to expand in any particular industry and want a quick source of income.

Given the considerable number of tourists who descend on London every year and the sheer depth of history, culture, and drama that has unfolded on British streets over the centuries, you will find lots of tours to host. You can even scale this business if you want to. Once you experience initial success, you could hire several tour guides to increase the number of tourists you process.

Start a travel hospitality business

You could also start a travel hospitality business. This is excellent if you are passionate about travel and want to make other tourists feel at home. There are countless examples of travel hospitality businesses you can build – from running a hostel to organizing coach tours, providing niche experiences, or a package holiday. Whatever your choice, the sky is the limit regarding travel hospitality.