London leads the UK in company formations with record new companies and 5% growth in 2023

The capital topped the UK company formations league table yet again – unsurprisingly when you think of the population – but the density of entrepreneurialism grew significantly as well, taking new incorporations per 1,000 people from 33.5 to 38.2 against the national average of 14.2.

London finished 2023 with a record 1,534,936 businesses and more companies were incorporated than in any previous year: 313,446, a rise of 14% over 2022.

Of the London boroughs, the top 5 for company formations were Camden (58,386), Hackney (31,463), Islington (27,348), Westminster (24,621) and Newham (12,392).

Our infographic of 2023 company incorporation activity in London gives further details about companies formed in the county during the year and how it compares with the performance of other counties in England.

If you’d like to start a new company in London, you’ll find our simple online company registration service helpful.