Islington UK Hotspots for Startups
Islington creates 18,590 new businesses in the last year, latest figures show.
08:14 09 June 2020
Islington is the number one hotspot for new UK start-ups according to figures released by UHY Hacker Young.
The study reveals that Islington successfully created 18,590 new businesses in the last year by providing a cheaper alternative to Silicon Roundabout, a popular tech hub in North-East London, which created just 15,390 new businesses during the same period.
One of the digital start-ups that call Islington its home is Ogury, a mobile marketing business that was founded in the borough and now has 18 offices across the United States and Europe.
Martin Jones, partner at UHY Hacker Young, said: "If tech companies do become more cost-conscious after the coronavirus lockdown ends, then we may see an increasing number choosing to base themselves in those areas such as Croydon, that offer growing tech credentials but also lower rents to save costs following the pandemic."
He added: "However, a clear north-south divide remains with new start-ups still being heavily concentrated in London, accounting for seven of the top ten areas for new business generation."