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.

2009 2011                 +/-
Newham 6160 7195 16.8%
Redbridge 9435 10475 11.0%
Waltham Forest 7185 7940 10.5%
Barking and Dagenham 3895 4280 9.9%
City of London 14895 16250 9.1%
Greenwich 6695 7290 8.9%
Southwark 13240 14410 8.8%
Hackney 11230 12150 8.2%
Tower Hamlets 11880 12850 8.2%
Hounslow 10090 10895 8.0%
Harrow 11050 11905 7.7%
Haringey 9315 10005 7.4%
Barnet 19920 21205 6.5%
Merton 8800 9355 6.3%
Croydon 12090 12700 5.0%
Bexley 6900 7245 5.0%
Sutton 6915 7240 4.7%
Enfield 10490 10980 4.7%
Hillingdon 10090 10525 4.3%
Camden 25175 25930 3.0%
Ealing 14150 14570 3.0%
Brent 12475 12835 2.9%
Lewisham 7635 7845 2.8%
Islington 14010 14395 2.7%
Westminster 47010 48240 2.6%
Kingston upon Thames 7620 7770 2.0%
Bromley 12880 13080 1.6%
Richmond upon Thames 12170 12340 1.4%
Wandsworth 15270 15455 1.2%
Lambeth 11360 11480 1.1%
Havering 8100 8170 0.9%
Hammersmith and Fulham 11850 11915 0.5%
Kensington and Chelsea 12335 12265 -0.6%
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