The number of businesses has contracted in some central areas and fallen by 32% in the City. Data from the Office for National Statistics shows the largest growth in the number of individual business units between 2009-2015 was in Camden and Lambeth.
But a crescent of boroughs from Harrow in the north to Greenwich in the south east have seen growth above 20% since 2009 and in a number, including Newham and Redbridge, it is over 30%. At the same time there has been just single digit growth on the opposite side of the city.
The data shows that there are currently 461,020 businesses in London. It’s the largest number of any UK region and the equivalent of the combined number for North West England, Yorkshire and Humberside.
More that 10% of businesses are in Westminster, and it has 10 times more than Barking and Dagenham, which has the fewest with 5,865.
The largest sector in terms of numbers of businesses in the capital is Professional, Scientific and Technical services, as it is in the UK as a whole. In London this accounts for 24% of all business. In the City of London this sector is 40% of all business units.
Information and Communication services is London’s second biggest sector with 13% of all businesses. Business administration and support, and construction are third and fourth. Across the country, construction is the second biggest industry sector in terms of numbers of businesses and retail makes up a higher proportion of businesses than in does in London.