London is now home to over 1 million companies

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The total number of companies registered in London rose above 1 millionĀ for the first time during September, up over 50,000 from the end of 2014. It means that well over a quarter of UK companies have their registered office address – the address at which the company is officially based – in the capital.

There are notable performances in certain boroughs. Westminster continues to be the address of choice for companies and is now home to 127,386 incorporated entities. Camden sits in second place with 75,502 companies, followed by 67,187 in Barnet, 52,834 in Islington and 52,575 in the City of London.

The graphs and table that follow give more borough by borough detail of the way in which London has become such a great place to do business.

The highest net growth in 2015 – which considers both companies formed and dissolved in the period – was in Hackney, which added nearly 12,000 companies. That’s an amazing increase in the number of companies based in the borough of over 25% in just 9 months. Camden saw the next best increase with 7,872 additional companies, followed by Westminster, Wandsworth and Barnet.

London incorporations and dissolutions in 2015 – breakdown

District Companies formed Jan-Sep 2015 Companies dissolved Jan-Sep 2015 Net Change
Barking and Dagenham 2329 1089 1240
Barnet 8395 6191 2204
Bexley 1907 1026 881
Brent 4042 2633 1409
Bromley 2692 1560 1132
Camden 13454 5582 7872
City of London 4727 3333 1394
Croydon 4101 2307 1794
Ealing 4373 2570 1803
Enfield 4535 2828 1707
Greenwich 2574 1429 1145
Hackney 14475 2549 11926
Hammersmith and Fulham 2939 1918 1021
Haringey 3339 1804 1535
Harrow 4224 2565 1659
Havering 2023 1117 906
Hillingdon 3071 1786 1285
Hounslow 3296 2035 1261
Islington 4516 7664 -3148
Kensington and Chelsea 2790 1603 1187
Kingston upon Thames 1391 923 468
Lambeth 3762 2122 1640
Lewisham 2399 1489 910
Merton 3098 1871 1227
Newham 4309 2646 1663
Redbridge 5127 3014 2113
Richmond upon Thames 1922 1065 857
Southwark 4069 2458 1611
Sutton 1511 926 585
Tower Hamlets 5863 3726 2137
Waltham Forest 3370 1872 1498
Wandsworth 5091 2684 2407
Westminster 14850 11297 3553
Total 150564 89682 60882

With 150,564 new companies formed in 2015 to the end of September, it’s also possible that London will this year break its own annual record of 191,915 for company formations.

Growth in companies registered in the capital has continued apace over the last 5 years. At the end of 2010, the number of companies based in London was 699,683. This means that, in just 5 years, there are over 300,000 more companies registered in the city, even after taking account of companies dissolved in the same period.

 

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2020 Review
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