Entrepreneurs head for the capital to launch businesses

East London top hotspot for new businesses as the capitals economic heartland shifts eastward a new survey reveals 

A survey by Royal Mail suggests that nearly 10 per cent of all businesses in the area are start-ups as East London displaced central London at the top of this years rankings.

Many have cited the extension to the Jubilee line and the Channel Tunnel rail link as contributing factors that have stimulated entrepreneurial interest in East London.

The Royal Mail map of Business Start-ups plots fertile ground for new businesses throughout Britain.

The top five postcodes for business start-ups include Birmingham, Sunderland and Manchester, all revealing a higher than average percentage of small businesses.

Other locations included a number of small towns such as Crewe and Romford, both beating more traditional commercial areas such as Liverpool and Newcastle.

Richard Wilson, Head of Business Policy at the Institute of Directors, said, “It is encouraging to see small towns playing host to entrepreneurs across the UK.

In terms of employment growth, Scotland was a high performer, with areas such as the Isle of Shetland displaying signs of entrepreneurial regeneration.

Sutton knocked Bromley off the top spot as the most likely place for small businesses to make big profits.

Tim Rivett, Head of Small Businesses, said, “The research shows that business success doesn’t have to be restricted to the traditional commercial centres across the UK.

“Royal Mail enables businesses in the remotest parts of the UK to the big cities to effectively communicate with their suppliers and customers.”

The Royal Mail Map of Business Start-ups runs as follows,

1. London E
2. Ilford
3. Birmingham
4. Sunderland
5. Manchester
6. Falfirk
7. Glasgow
8. London SE
9. Milton Keynes
10. Medway
11. Crewe
12. Colchester
13. Edinburgh
14. Romford
15. Cleveland
16. Enfield
17. London W
18. London N
19. Northampton
20. Chelmsford