News

Islington has a dynamic local economy characterised by its diversity, entrepreneurialism, innovation, strategic location, and ongoing investment, making it a vibrant and thriving borough within London’s economic landscape. 

Islington Council’s work to improve Bingfield Park has now been completed, making the space more biodiverse, child-friendly and fun for visitors.  

Old Street is one of the business success stories of the UK. Companies working in tech, creative and ‘knowledge’ businesses are clustered together in the busy streets of south Islington and neighbouring boroughs. These sectors drive much of the UK economy. In London, the tech sector is growing more than two and a half times faster than the UK average and contributes £184bn to the British economy. 

Archway has been designated by the Mayor of London as a Creative Enterprise Zone, a status which affirms the council’s commitment to boosting the area’s creative economy.

Islington Council has announced a £1million Hardship Fund as part of its budget proposals for the next financial year, boosting its substantial existing safety net that shields the borough’s most vulnerable households from the worst effects of the cost of living crisis.

Islington Council will use extra funding received from energy generation at the publicly-owned Edmonton EcoPark to provide additional support to its most vulnerable residents and businesses during the cost of living emergency this winter, including a new debt relief fund and support payments to low-income households.

Islington’s ground-breaking affordable workspace programme – which gives budding entrepreneurs from often excluded communities the tools to thrive, helping to make the borough a more equal place – has delivered more than £1.24million worth of uplift to the local economy in its first two years.

More than 200 aspiring entrepreneurs from underrepresented communities will get support with their small and micro businesses through three innovative and inclusive new affordable workspaces for the tech and digital sector.

Islington Council is launching a new programme to help give hundreds of workers a stronger stake in the local economy through a new co-operative development agency – allowing them to steer and shape local businesses, and fairly share the profits.

Islington Council is launching a business support scheme to help fledgling entrepreneurs from underrepresented groups make their business a success.

With Christmas on the horizon, Islington Council is encouraging residents to spend their money at local, independent businesses to keep our high streets thriving.

Better Space - a new affordable workspace in Islington that supports local social enterprises and small businesses, and helps residents gain vital skills and experience - is open and thriving.