London boosts increase in number of new UK startups

Keiligh Baker's picture

London-based entrepreneurs boosted a UK-wide jump in the number of registered startups.

More than 216,000 new businesses were registered in the greater London area last year, a 6.45 per cent increase on 2017.

Across the UK as a whole, the number of new companies registered last year rose by 5.7 per cent to over 660,000 – a record high.

The number of start-ups in London was more than 10 times that recorded in second-placed Birmingham as the capital continued to dominate entrepreneurial activity.

“It is encouraging to see formation numbers recover and hit a new high,” said Matt Smith, director of the Centre for Entrepreneurs (CFE), the think tank which compiled the figures using data from Companies House.

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