For a long time Hackney was the top choice for small businesses in London. It had a reputation as the perfect place to start a business because the community was so supportive. However, things are different today and people are looking at other parts of the city. There are new hotspots now in some very interesting areas. We want to have a closer look here, then you can talk to us if you want guaranteed rent in Tower Hamlets.

The stats

GoDaddy recently did research to have a closer look at small businesses across the UK. They got some really useful data, including where they choose to set up and the owner’s approaches. The picture for London is really interesting. It is still the top area overall for startups, retaining the title of top location for entrepreneurs. It beat competition from other hotspots such as Aberdeen and Coventry.

The most notable finding from GoDaddy’s research is new startups in London are choosing different locations. Hackney, while still home to a large number of small businesses, is seeing relatively little growth. In fact, it was 27th out of the 32 boroughs with just 16% year on year growth. The main issue is it has been an expensive place to rent, making it difficult for businesses.

With Hackney off the table for many businesses, a number of other areas in London have become really attractive for startups. Tower Hamlets is the top choice. Year on year growth is an impressive 33%, more than double Hackney. Barking and Dagenham is growing quickly too (29%). Rounding out the top three is Redbridge (25%).

Big changes

If you’re thinking of investing, it is a good idea to look at areas that support local businesses. It can create wonderful areas with great communities. You can rely on us if you invest and want guaranteed rent in Tower Hamlets.

There are a number of factors that make Tower Hamlets such a great spot for entrepreneurs. For one, the local council invested £700,000 in 2024 to help startups. In addition, they recommend that people shop locally to help support businesses. This includes everything from coffee shops and restaurants to boutiques and more.

Other areas are proving to be popular because they are more affordable than established spots. At the same time, it can give them a chance to access markets and communities where competition may not be as intense.

The GoDaddy research also found that new many startups are changing how they work. A network of local offices can work really well instead of a more expensive central office. It can help employees achieve a better work life balance, improving job satisfaction, wellbeing, and loyalty.

Talk to us about guaranteed rent in Tower Hamlets

It’s fantastic that London is still a hotspot for startup businesses in various industries. Supporting them can have a big impact on areas, building lovely communities. Ultimately, it makes areas more attractive to renters and investors in turn.

Tower Hamlets is a great choice if you are thinking of investing. Crucially, if you do commit, you can rely on us to give you a wide array of services. Most notably, we specialise in guaranteed rent. It takes away a huge amount of the risk surrounding tenancies. You get the guarantee of a payment every month for as long as you are part of a scheme. Even more, you don’t need to worry about finding tenants.

So, if you want to learn more about guaranteed rent in Tower Hamlets, contact us. We’ve got all the details you could need, including how it works, responsibilities, and more.