Small firms 'more resilient outside London'
Small firms outside London survive longer, showing they are more resilient to economic turbulence, a report reveals.
Fewer than two out of five start-up businesses survive longer than five years in the capital, compared to 45% in the South West, 44% in the East of England and 42% in Scotland, according to research by eBay.
The top 10 local authorities with the highest rates of business survival are all outside the capital, including the Shetland Islands (56%), Melton in the East Midlands and Purbeck in the South West (both 53%), and Selby in Yorkshire (52%).
The local authority with the lowest survival rate for start-up companies was found to be Redbridge in London at 36%.
Tanya Lawler, of eBay UK, said: "Our research shows the vital role start-ups play in the British economy, acting as resilient satellites of stability and employment."