Newham leads the way for business start-ups

New figures reveal that in the last two years more businesses have started in Newham than any other London borough. The data also shows they rank second out of all authorities in England and Wales.

The findings were carried out by Experian and revealed by the BBC. They show that the number of businesses in Newham rose from 10,238 in early 2010 to 14,672 at the start of this year – an increase of 43.3%.

The main reason for this is the new Westfield Shopping Centre and the regeneration around the Olympic site. As well as the establishing of an Enterprise Zone in the Royal Docks.

There was also good news for neighbouring Barking and Dagenham which saw 7,685 new companies find their feet in the same time period.

This good news for the borough appears against a backdrop of gloom for London in general. The number of businesses in the capital dropped by 1.5%. Hounslow saw the biggest number of insolvencies, relocations and closures with a decrease of 3,169 businesses.

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