The SW6 area in west London, incidentally home to Chelsea FC, registered 2,820 new startups in the year, coming fourth in the table. And the postcode SW1Y, which covers Mayfair, also makes the top 10, experiencing a 10 per cent rise in the number of new businesses created last year, up from 1,830 to 2,020. “Silicon Roundabout has maintained its position as the epicentre of the UK’s technology industry. With so many startups and established businesses in the area, it is no longer hype to compare it to Silicon Valley,” said UHY Hacker Young’s Colin Jones. The E1 postcode in London, which covers the area from Spitalfields to Mile End, also saw an increase in new business generation, with 2,270 new startups. Only three of the top 20 postcodes for business creation were outside of London – Hove’s BN3 came in 10th place and Leeds’ LS14 in 12th.
Separate research by EY released today showed that London is also dominating the rest of the UK as a destination for foreign investment. Money being attracted to the UK is also surpassing peer countries.