Wandsworth Sees London's Sharpest Fall in Business Numbers
2,000 firms shut in borough despite capital wide-growth
There are over 2,000 fewer companies in the borough. Picture: AI-generated
June 12, 2026
Wandsworth has experienced the largest decline in the number of registered businesses of any London borough over the past six years, according to new figures that reveal a stark contrast with trends elsewhere in the capital.
Data covering the period from 2019 to 2025 shows the number of registered enterprises in the borough fell from 17,105 to 14,925 – a reduction of 2,180 businesses, or 12.7 per cent.
The decline stands in sharp contrast to the wider London picture, where the number of businesses increased by an average of 3.1 per cent over the same period. Some boroughs have seen particularly strong growth, with Hackney recording a 21.1 per cent rise in registered enterprises.
The figures suggest that Wandsworth's business community was hit particularly hard by a series of economic shocks during the early part of the decade.
The steepest falls came between 2021 and 2023, when the borough lost almost 1,900 businesses. Numbers fell by 440 in 2021, a further 750 in 2022 and another 675 in 2023. There are, however, signs that the decline may be slowing. Business numbers fell by just 80 in 2024 and 135 in 2025, significantly lower than the losses recorded in previous years.
These years coincided with the aftermath of the Covid-19 pandemic, rising inflation, soaring energy costs and significant changes in consumer behaviour. Small businesses in sectors such as retail, hospitality and personal services were among those most exposed to these pressures.
Business experts point to several possible reasons why Wandsworth may have been more vulnerable than other parts of London. The borough has traditionally had a large number of small and micro-businesses, many of which faced acute challenges during and after the pandemic. The growth of remote working also altered spending patterns in town centres, while rising commercial rents and operating costs added further pressure.
It is also thought possible that the conversion of light industrial and commercial units into residential use has accelerated the decline in business formation in the borough.
The latest figures have prompted renewed focus on how the borough can support enterprise and encourage new business formation.
Councillor Tom Pridham, Wandsworth Council's Cabinet Member for Opportunity, said, "The new administration will ensure Wandsworth is an outstanding place to work, live and do business.
"Local businesses have faced serious challenges in recent years - from the aftermath of the pandemic to the 2025 rise in National Insurance.
"We'll help Wandsworth businesses thrive, through investment in town centres, and targeted support for entrepreneurs, small businesses and start-ups."
The council hopes that investment in high streets, support for start-ups and measures to encourage entrepreneurship will help reverse the trend.
Business Registrations by London Borough |
||||
Rank (new) |
Location |
2019 businesses |
2025 businesses |
% change |
1 |
Wandsworth |
17,105 |
14,925 |
-12.74% |
2 |
Richmond upon Thames |
13,425 |
12,150 |
-9.50% |
3 |
Kingston upon Thames |
8,905 |
8,265 |
-7.19% |
4 |
Bromley |
15,475 |
14,450 |
-6.62% |
5 |
Lambeth |
14,060 |
13,255 |
-5.73% |
6 |
Lewisham |
10,145 |
9,600 |
-5.37% |
7 |
Kensington and Chelsea |
13,460 |
12,830 |
-4.67% |
8 |
Southwark |
16,560 |
15,845 |
-4.32% |
9 |
Bexley |
8,820 |
8,440 |
-4.31% |
10 |
Hammersmith and Fulham |
12,745 |
12,210 |
-4.20% |
11 |
Sutton |
8,600 |
8,275 |
-3.78% |
12 |
Croydon |
14,915 |
14,460 |
-3.05% |
13 |
Merton |
11,255 |
11,035 |
-1.95% |
14 |
Greenwich |
10,125 |
9,950 |
-1.73% |
15 |
Hounslow |
13,285 |
13,170 |
-0.87% |
16 |
Tower Hamlets |
17,350 |
17,220 |
-0.75% |
17 |
Ealing |
17,885 |
17,835 |
-0.28% |
18 |
Brent |
15,530 |
15,545 |
0.10% |
19 |
City of London |
23,890 |
24,060 |
0.71% |
20 |
Harrow |
15,215 |
15,400 |
1.22% |
21 |
Haringey |
12,345 |
12,745 |
3.24% |
22 |
Waltham Forest |
11,430 |
11,975 |
4.77% |
23 |
Barnet |
24,085 |
25,295 |
5.02% |
24 |
Redbridge |
14,080 |
15,060 |
6.96% |
25 |
Havering |
9,895 |
10,650 |
7.63% |
26 |
Newham |
12,565 |
13,570 |
8.00% |
27 |
Hillingdon |
13,590 |
14,710 |
8.24% |
28 |
Westminster |
51,410 |
55,675 |
8.30% |
29 |
Enfield |
13,275 |
15,040 |
13.30% |
30 |
Islington |
20,130 |
23,335 |
15.92% |
31 |
Camden |
32,255 |
37,490 |
16.23% |
32 |
Barking and Dagenham |
6,920 |
8,070 |
16.62% |
33 |
Hackney |
21,300 |
25,785 |
21.06% |
— |
London (overall) |
522,240 |
538,320 |
3.08% |
Source: Companies House
.
Like Reading Articles Like This? Help Us Produce More This site remains committed to providing local community news and public interest journalism. Articles such as the one above are integral to what we do. We aim to feature as much as possible on local societies, charities based in the area, fundraising efforts by residents, community-based initiatives and even helping people find missing pets. We’ve always done that and won’t be changing, in fact we’d like to do more. However, the readership that these stories generates is often below that needed to cover the cost of producing them. Our financial resources are limited and the local media environment is intensely competitive so there is a constraint on what we can do. We are therefore asking our readers to consider offering financial support to these efforts. Any money given will help support community and public interest news and the expansion of our coverage in this area. A suggested monthly payment is £8 but we would be grateful for any amount for instance if you think this site offers the equivalent value of a subscription to a daily printed newspaper you may wish to consider £20 per month. If neither of these amounts is suitable for you then contact info@neighbournet.com and we can set up an alternative. All payments are made through a secure web site. One-off donations are also appreciated. Choose The Amount You Wish To Contribute. If you do support us in this way we’d be interested to hear what kind of articles you would like to see more of on the site – send your suggestions to the editor. For businesses we offer the chance to be a corporate sponsor of community content on the site. For £30 plus VAT per month you will be the designated sponsor of at least one article a month with your logo appearing if supplied. If there is a specific community group or initiative you’d like to support we can make sure your sponsorship is featured on related content for a one off payment of £50 plus VAT. All payments are made through a secure web site. |