14 March 2014
London’s smaller firms have seen incomes rise almost three times as much as the rest of the country as the capital bounces back from recession, figures reveal today.
Research from Barclays Business Banking on the value of payments into the current accounts of small business customers — a key measure of cashflow — showed incomes at London firms stood 9% above the second quarter of 2007. This compares with a 3.4% rise among its customers across the rest of the country.
Growth rates differed in England and Wales. The North-West and East Midlands show a strong recovery but Yorkshire, Wales and the South-West remain below their 2007 peak.
