Tower Hamlets recorded a 33% increase in microbusiness density, driven by a rise in new start-ups. The borough council allocated £700,000 to support entrepreneurs. London leads the UK in entrepreneurship, ahead of Aberdeen and Coventry. Hackney saw only a 16% increase, ranking 27th of 32 London boroughs. Local businesses and workers provide daily community support and rely on local trade. Firms increasingly enable employees to work closer to home, cutting commuting and real estate costs. Business owners are adopting networks of local workspaces to capture cost, productivity, and work/life balance benefits as small firms spread eastward.
Hardworking small business owners and workers across Tower Hamlets serve our needs and support communities every day. I encourage constituents and all beyond to continue to support them by shopping locally.
There has been strong growth in businesses enabling their people to work closer to where they live, saving themselves time and money through reduced commuting and lower real estate costs. This shift is happening in towns and cities of all sizes right across the UK, including the east London boroughs of Tower Hamlets, Barking and Dagenham, and Redbridge. Business owners are rapidly realising the cost and productivity benefits of using a network of local workspaces as well as the work/life balance advantages for their people
East London has a rich history of entrepreneurialism, from its industrial past to its current day standing as a vibrant, cultural hub. The GoDaddy Small Business Research Lab findings show the wave of small businesses is spreading further east, as people move from Hackney to more affordable areas to start their new ventures. It's heartening to see budding en
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