15,000 start-ups launched in Islington borough in 2017
Islington encourages entrepreneurship, and this is evident with the news that the Islington borough had the fourth highest number of start-ups in London last year.
According to figures from Companies House, 15,000 new business enterprises were founded in the borough in 2017, an increase on the previous year.
However, the number of start-ups being formed across the capital is on the decline, partly as consequence of Brexit and uncertainty about what this will mean for businesses. But the number of start-ups formed in Islington has been on the rise in recent years.
Co-chair of the Islington Chamber of Commerce, Hak Huseyin, said: “we all want new businesses and want people to thrive. Islington is a great borough to be in for lots of reasons – great transport links, wonderful existing businesses they can interact with.
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There are a lot of units opening up to allow small independents to let out rooms”, Huseyin added.
Smaller units are opening in Islington, allowing start-up workers to rent business space relatively affordably. But on the flip side, high rents and business rates are likely to be a hindrance to start-ups and independent businesses, potentially discouraging people from starting a business or opening a shop.
If you’re based in Islington or are considering moving to Islington and are keen to start up a business, find out more about business rates in Islington.
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