East London borough has fewest SMEs, but shows growth » SMEInsider

East London borough has fewest SMEs, but shows growth

The London borough with the fewest small and medium-sized businesses is Barking and Dagenham, statistics from the Office of National Statistics has revealed.

In 2015, it had 4,535 SMEs, paling in comparison to Westminster, which topped the table with almost 43,000.

This is according to the Barking and Dagenham Post, which analysed ONS data examining numbers of businesses with fewer than 50 employees in all London boroughs.

Despite the relatively low number of small firms in the east London borough, there were 15.8 per cent more at the end of 2015 than there were a year before, with 715 new SMEs setting up in Barking and Dagenham. This put the area third in terms of growth.

Neighbouring borough Newham was highest in growth in numbers of SMEs, at 16.5 per cent, or 1,235 businesses. This brought Newham’s total number of small and medium firms to 7,480.

With just less than 7,000 SMEs, Bexley was second lowest.