Barking has seen an 18 per cent increase in the number of new companies registered in the first three months of the year, compared with the same period in 2012.
Business analytics firm Duport said the first quarter of the year had seen 251 new firms registered, more than any quarter on record for the town.
The news follows research from the firm last month - reported by Bold Magazine - that showed Dagenham had posted a best-quarter-ever record for the same period, with 267 new firms registered in the first three months of the year, a 9 per cent rise on 2012.
Duport managing director Peter Valaitis said Barking’s growth figures could reflect the level of regeneration currently under way in the town.
"The results in our report suggest business confidence is high in Barking, with more people than ever choosing to set up their own business,” he said.
“A wider range of companies in the area will help diversify the local economy and strengthen it in years to come."
The City of London Corporation is about to buy Barking Power Station site in east London for around £125 million, according to Property Week.
A £25 million grant for Barking and Dagenham Council will help it support new housebuilding over the next four years.
Councillor Darren Rodwell, the leader of Barking and Dagenham Council, has welcomed the decision to approve the proposed Beam Park…