Start-ups more likely to survive in London than in other European capitals
UK capital has a better business survival rate and start-up rate than Berlin, Paris and Brussels
Businesses started in London are more likely to survive than businesses launched in other major European capitals, according to research conducted by Creditsafe.
Between January 2014 and July 2015, just 0.39% of London start-ups failed compared to 0.75% of businesses in Berlin, 2.95% in Paris, and 3.15% in Brussels.
However, during the same period Berlin saw a 22% increase in the number of active businesses, followed by Paris (14%), London (9%) and Brussels (at just 0.7%).
The UK capital was still well ahead of its European rivals in terms of the number of start-ups established, with 63,030 businesses created between January 2014 and July 2015 – more than six times its nearest competitor Berlin (10,610).
Rachel Mainwaring, operations director of Creditsafe, said: “The analysis points to huge variance in economic recovery and growth across Europe. While London, Berlin and Paris are all successfully incubating new businesses, Brussels is going in reverse.
“However, even in rapidly expanding cities thousands of businesses are still failing each year.”