London maintains poll position against the rest of the UK for new company formations in 2021.

An impressive 274,838 new companies were formed in London during 2022 – this is almost 600% more than the West Midlands which sits in position 2 below London on the company formation league table. It is therefore unsurprising that the capital boasted 178.3 companies per 1000 people by the end of the year.

This may seem like a disproportionate number of new company incorporations however when considering the fact that 185,954 businesses closed down in London during the year, this balances out to a modest growth rate of 4.7%. This is of course above the UK national growth rate of 4.6% however this is somewhat anticipated giving we would generally expect to see influential numbers within the capital.

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