Redbridge top for growth in North London

LB Redbridge is the top North London borough for business growth, according to new figures.

The figures, which have just been released by the Office for National Statistics, show the growth in the total number of active businesses between 2009 and 2011. Formation has exceeded closure in all but one London Borough, but the rate of growth varies widely across the capital.

Redbridge is at no.2 in the London Borough table, and along with Waltham Forest, at third, is one of only three London Boroughs to exceed the UK average. While numbers in the rest of the country are likely to include a significantly greater number of companies formed following redundancy than inside the M25, Redbridge’s and Waltham Forest’s position at the top of the list shows an entrepreneurial spirit.

The figures may reflect an Olympic effect, with boroughs close to the Olympic Park filling the top four slots.

Haringey & Barnet both feature in the top half of the table, with the latter doing so despite boasting the largest total number of active enterprises of any outer London borough.

Full Table:

Shows total number of active businesses (i.e. those reporting turnover and completing VAT returns). Figures from ONS.