East London’s reputation as a start-up sanctuary is no secret, especially considering almost 15,000 new companies set up camp in the Old Street area in 2016 alone. Proudly labelled as being the third-largest tech start-up cluster on the globe, behind the USA’s New York and San Francisco, who says that Tech City is solely for start-ups?
Shoreditch has seen international success with Google and Amazon taking prime place and moving into the area, and that alone tells you all you need to know about the unrivalled opportunities and growth that East London can offer to businesses.
City AM have confirmed the triumphs that Shoreditch has to offer by saying that industries in the digital sector are rising 32% quicker than other sectors, and Shoreditch is the front-runner of it all.
The significant growth in businesses in East London has brought an electric and enviable culture to the scene; new pop-ups, coffee shops and a plethora of fashion stores are appearing in and around the area, left, right and centre. It doesn’t stop there, house prices in the surrounding area have also benefitted from the start-up business boom, with property prices in Hackney rocketing by 9.5% in one year alone and by over 700% in the last two decades.
Shoreditch and the surrounding City Fringe area is doing everything it can to keep up with the influx of new corporations moving into the area by offering fresh new co-working spaces, improved transport links, with Crossrail around the corner, and events where budding entrepreneurs can listen to leaders of new businesses to get tips and tricks, like this one in the Old Truman Brewery next May.
Diverse culture, inspiration and investment into prospering companies, there’s no wonder that the City Fringe is a more desirable place to live and work than ever.