Over 15,000 businesses were set up in London’s Silicon Roundabout last year making it the UK’s biggest base for start-ups in the last year.
Research by the national accountancy group UHY Hacker Young found that during the year to March, 15,720 businesses were set up in the postal area EC1V. Tech stars in the area include Mind Candy, Hailo and Stylist Pick, among others.
London boroughs beat other cities in the UK by taking up 17 out of the top 20 spots.
Canary Wharf and Bishopsgate combined saw 4,900 new ventures set shop, while 5,190 new businesses popped up in Borough and Bermondsey last year. St. James’s (SW1Y) too became home to 1,830 new businesses last year.
Colin Jones, partner at UHY Hacker Young, said, “Clusters of expertise can be highly effective in driving new business creation. The area around Old Street has been an emerging business destination for some time, thanks to relatively cheap rents, but since the internet and app industries started to colonise the area, new business creation has really taken off.”
Outside London, Warrington came 14th on the list attracting 1,510 start-ups and Brighton came 16th with 1,450 start-ups set up last year. Cheshire took the 19th spot with 1,360 businesses launched in the last year.
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