Thursday 16 April 2015 11:47 am

This map shows the best London boroughs for startups

Two year business survival rates in London via data from the ONS (Source: PlaceILive)

Perhaps you're thinking of setting up a craft beer shop in east London, or a tech start-up on Silicon Roundabout. If so budding entrepreneurs wishing to give themselves the best start should set their sights on these boroughs.

Islington and Lambeth both offer good prospects. But generally its the boroughs located outside of central London – such as Richmond, Sutton and Bromley – that are the best bets.

Conversely Westminster, home to landmarks like St. James Palace and the Houses of Parliament, is a tricky spot. Another sore spot is up-and-coming Waltham Forest.

The research, conducted by, found Londoners' penchant for convenience was driving this trend. It said that the factor with the strongest influence on a new businesses' lifespan was local accessibility to public transport – trumping other more obvious ones such as unemployment rates or salaries.

"[This] implies that Londoner's prefer to shop nearby when it becomes too much of a hassle to travel to a different retailer … giving local businesses an advantage over competitors elsewhere in the city," PlaceILive said.