New research suggests Croydon is emerging as a significant tech hub in the UK, with a remarkable 24% increase in microbusinesses. The area boasts strong economic growth fueled by a vibrant community of entrepreneurs. Mayor Jason Perry emphasizes local support for small businesses, highlighting successful transport links and affordable housing as key benefits. The microbusiness sector is identified as essential for growth and employment, with evidence showing that each new digital firm correlates to job and salary increases. Croydon's unique creativity and entrepreneurial spirit set it apart from central London.
The south London borough saw a 24 per cent spike in microbusiness numbers during the past 12 months, greater than the rest of London and third in the UK overall.
Our entrepreneurs and small business owners are a vital part of our local economy, bringing opportunities and jobs, and it's encouraging to hear that Croydon has a lot to offer in return.
Research from GoDaddy, in partnership with Frontier Economics, found that each additional digital company is associated with an average increase of approximately five jobs per resident.
What we lack compared to central London, we make up in creativity and entrepreneurial spirit.
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