Tuesday, March 20, 2012

Newham: the Entrepreneurial future of London?

I saw this BBC news report yesterday morning on Newham being the home of the most business start ups in London.

"Many boroughs saw rocketing numbers of start-up businesses, particularly in the East End.

In Barking and Dagenham, between 2010 and 2012, some 7,685 new businesses began - increasing the total number by 38.6%.

And in Newham - London's top performer for business start-ups - the number rose by 43.3%
over the same period, to 14,672.

Not only is Newham home to the Olympic Park, but it has seen a massive regeneration project around the new Westfield Shopping centre.

One Newham entrepreneur is Faith Johnson. She founded Caramel Rock, a fashion company which also trains people in dressmaking and now employs five. Ms Johnson said: "It is 150% a great area to do business in. "The community is very welcoming - it's like a family." She continued: "Being the main Olympic borough makes such a difference - it brings so many people here who wouldn't otherwise come. "With so much investment in the area it's much more profitable. "I don't think that will come to an end after the Olympics."

A Newham Council spokeswoman said: "An increase in new businesses is good news for Newham and demonstrates the entrepreneurial nature and resilience of our residents. "Newham is home to some of the largest and most spectacular development sites in Europe. "More businesses will help contribute to this economic regeneration and will ultimately create more jobs for our residents."
(answer is YES)
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