London leads the UK for new business creation, according to research from national accountancy group UHY Hacker Young.

A net total of 24 new businesses per 10,000 people were created in the capital last year.

This puts London at the top of the list of the UK's 50 largest towns and cities for net number of new businesses created, significantly higher than the UK average of eight net new businesses per 10,000 people.

"Whilst London is known as the powerhouse of the economy as it hosts so many global banks and multi-nationals, these figures show that is also the national hotbed for entrepreneurs," said Laurence Sacker of UHY Hacker Young.