London leads the UK in creation of startups

City A.M. covers the large number of startups that formed throughout London in 2019.

London continued to dominate the startup landscape in 2019, as the UK hit a record level for a second year in a row.

The number of startups in London increased 2.4 per cent to 221,373 companies, a substantial portion of the 681,704 businesses created in 2019.

Data from the Centre for Entrepreneurs’ annual startup index released on Monday showed that there were 24 startups for every 1,000 citizens in the capital.

“It is encouraging that despite a politically turbulent year in which business confidence hit new lows, business formations continued to set records” said Matt Smith, director of policy and research at the Centre for Entrepreneurs.

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