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New Businesses: Greater London

Volume 482: debated on Tuesday 11 November 2008

To ask the Minister of State, Department for Business, Enterprise and Regulatory Reform how many new businesses were started in each London borough in 2007; how many of them received Government funding during that year; and if he will make a statement. (232372)

The latest available figures for new businesses are for 2006 (based on businesses with turnover over £60,000 registering for VAT). The figure for each London borough was as follows:

VAT registrations in London and in each London borough, 2006

Number of new businesses

London Government Office Region

34,825

Barking and Dagenham

370

Barnet

1,490

Bexley

560

Brent

1,135

Bromley

1,015

Camden

1,925

City of London

1,385

Croydon

960

Ealing

1,350

Enfield

865

Greenwich

600

Hackney

990

Hammersmith and Fulham

1,000

Haringey

790

Harrow

835

Havering

635

Hillingdon

845

Hounslow

900

Islington

1,345

Kensington and Chelsea

1,205

Kingston upon Thames

585

Lambeth

985

Lewisham

635

Merton

830

Newham

620

Redbridge

830

Richmond upon Thames

1,000

Southwark

1,090

Sutton

525

Tower Hamlets

1,180

Waltham Forest

615

Wandsworth

1,370

Westminster

4,375

The Government support new businesses in the capital in the main through the London Development Agency (LDA). In 2007, the LDA provided support estimated at over £6.2 million to more than 1,500 new businesses in the form of direct finance, subsidised financial and other support or advice.