London startups to reach record levels, says research

Recent research has shown that the London startup scene is likely to grow to record levels in 2015.

A combination of research from Startup Britain has highlighted that UK startups enjoyed a record-breaking year in 2014, particularly in the London tech sector, which bodes well for their performance in 2015.

Startup Britain, run by the Centre for Entrepreneurs think tank, found that 581,173 businesses were registered with Companies House in 2014, which easily surpassed the previous record of 526,446 in 2013. Furthermore, nearly a third (32 per cent) of these businesses were set up in London, illustrating the importance of the UK capital as a hub for entrepreneurial activity.

Further research from KPMG showed the tech sector outperformed the rest of the UK economy in 2014, with the number of new startups reaching a seven-year high.

“London’s startup scene is clearly stronger than ever and we continue to see consistent demand, particularly from tech startups,” said Dan Szweda, Head of Broking at Instant Offices, in a London Economic article. “Tech City remains popular but we are seeing new areas like Shoreditch, Canary Wharf and West London emerge as hotspots too.”

“What is also encouraging is that many are seeing out their first year successfully and are growing aggressively in their second year.”

London’s environment for starting a business has been bolstered by several government initiatives, which include funding programmes and places to seek advice and support. There is also a host of private initiatives and accelerators geared towards funding innovative and creative new businesses.

The global office broker, Instant Offices, has created a handy interactive map for entrepreneurs to discover the best areas for starting their business. They can find which region best suits their business, learn where to go if they’re looking for support, and get information about entrepreneurial events that are happening in their district.

To find out more information, and to see the map, click here.