London's Businesses Look to Move after Brexit
Ten London start-up businesses (1)__________________ about moving to Berlin since Britain (2)___________________ the European Union.
The business development group Berlin Partner (3)__________________ Monday.
Each of the new businesses have between 10 and 18 employees.
These small businesses are (4)__________________ such as the cost of commercial property, the labor market, and the availability of (5)________________.
Berlin Partner Director Stefan Franzke spoke at a (6)_______________. He said that financial technology companies, known as fintechs, have (7)__________________ in moving to Berlin from London.
Along with other European cities, Berlin wants to (8)_______________ in London's fintech industry. The German capital says it is an (9)________________ substitute to other cities.
Berlin's Senator for Economics, Technology and Research, Cornelia Yzer, has sent (10)________________ to British firms. She also has travelled to a conference called London Fintech Week. Yzer wanted to (11)___________ leaders to move their businesses to Berlin.
Other companies, such as Berlin Partner, (12)________________ to get start-ups to move to Germany from London. Berlin Partner (13)___________ 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 (14)________________.
A report by the accounting company Ernst and Young said Berlin (15)___________ more than $2 billion in (16)_______________ 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 (17)_______________ of English give start-up businesses a reason to come to Berlin.
The German capital has about 100 (18)________________. These include German mobile financial services firm Number26.
Franzke said he expected Berlin also to (19)______________ from foreign start-ups that were interested in London, but are now (20)________________.
The (21)_________________ that want fintech companies will be tough. Franzke says he considers Amsterdam to be Berlin’s (22)_____________. The Dutch city used to be home to a number of global banks and has (23)_____________________.
I’m Mehrnoush Karimian-Ainsworth.
This story was reported by Reuters news service. Mehrnoush Karimian-Ainsworth adapted this story for VOA Learning English. Mario Ritter was the editor.
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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.
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