Not that we need it, but yet more evidence showing the extent of London’s role as the entrepreneurial powerhouse of the UK.
Figures released by the national enterprise campaign StartupUp Britain show how the capital is dominating the UK’s entrepreneurial boom, with more than one in five new startups in 2013 coming from Greater London, home to one in eight people in the UK.
The latest data come around the same time that a report from the Centre for Cities shows that the capital is creating ten times more private sector jobs than the second fastest growing city, Edinburgh.
This obviously makes London such an attractive city for the younger generation looking for employment following their studies or a move up the career ladder, with one in three 22 to 30 year olds who move city go to London.
According to the stats from StartUp Britain, rather unsurprisingly London’s eastern (E) postcode area, which houses Tech City, outstripped all other regions with a total of 35,353 businesses registered last year. Of the top six postcode areas in terms of startups, five belonged in London, with the other being Birmingham.
A total of 136, 939 businesses were registered with Companies House in London, which is the measure StartUp Britain uses to power its online start up tracker.
Birmingham was second with 16,281 while 11,765 business were registered in Manchester last year. In Scotland, Glasgow saw more than eight thousand business registered in 2013, while in Edinbrugh the figure was 7,112.
From Student to Startup has built an interactive map outlining by main postcode areas, clicking on each area will bring up the infowindow with the number of businesses registered in each.
Overall, the signs are positive for those looking to start a business. While these values unfortunately reveal only the businesses that have registered as limited companies and the figures do not take into consideration failure rate or those who have registered with HMRC as self-employed, the overall number has increased since 2011 and is already up to 54117 in 2014 (correct to February 10).
“We’ve been looking at these figures carefully for three years since the campaign began and it’s clear the UK’s start-up community is growing year-on-year. The new regional statistics reveal a power house in the South East and London – which is what we were expecting - but there are also impressive pockets of entrepreneurial activity in the North West, South Yorkshire, the Midlands and Scotland,” said StartUp Britain’s Emma Jones.
Here's hoping 2014 is an even better year for start-ups!
Credit: From Student to Startup