London Business City Guide: doing business in London
Despite a reputation for being somewhat aloof, the British are generally very friendly once you get to know them. Punctuality is very important and meetings are usually opened with a light handshake and an exchange of pleasantries before getting straight to business. Beware of asking personal questions about work and family until you are better acquainted, as this can be considered impolite.

Although most people will initially address a new business relation as Mr./Ms., the British are much quicker than other Europeans at using first names. It is quite common for new business contacts to be on first-name terms by the end of a first meeting.

Dress is usually suit and tie for men and a smart trouser suit or skirt and jacket for women. Aggressive sales tactics and presentations should be eschewed in favour of understatement; the British tend not to show excessive emotion in public.

It is also prudent to note that the UK has various laws pertaining to exports and imports, as well as taxation regulations. So, if you intend to export goods, it is wise to plan ahead and contact UK Customs and Excise for advice: www.hmce.gov.uk.

London business facts

Indicative exchange rates
EUR/GBP: 1.40
USD/GBP: 1.90

UK: key economic indicators
Population: 59.2 million
GDP per head: £16,000
GDP growth: 2.9%
Unemployment: 4.7%
Interest rate: 4.75%
Inflation: 1.8%
Stock market change: +2.5%
(from Dec 31 2004)

London money matters

Indicative prices of:
Cup of coffee: £1.75
Business lunch: £23
Business dinner: £37
1km taxi ride: £2.80
Local newspaper: £0.45

Average level of:
UK salaries: £24,500
London salaries: £34,500
UK house prices: £135,000
London house prices: £240,000
London office space: £650/m2/yr