125 new creative businesses in Hackney Wick since launch of creative economy zone

The Hackney Wick and Fish Island Creative Enterprise Zone is part of a Mayor of London initiative to help artists and creative businesses start up and grow in designated areas across London, with support provided for permanent affordable space and boosting employment in the creative industries. It is co-delivered by Hackney Council and Tower Hamlets Council.

The CEZ has been in place since 2018, with the number of creative enterprises in Hackney Wick growing from 395 to just under 500 in that time. Ninety-six percent of businesses in the zone represent creative production sectors, and most are micro and small businesses (ONS).

As a part of the regular 3-year cycle of renewal of the Creative Enterprise Zone status, the Hackney Wick Fish Island Creative Enterprise Zone has now renewed its designation from the Mayor of London until 2028 and expanded its boundary. It will now be known as the Hackney Wick and Lower Lea Valley Creative Enterprise Zone.

In 2024/25 alone, over 80 start up businesses from Hackney and Tower Hamlets were supported to scale-up, access finance and funding opportunities and develop sustainable solutions to pressing urban problems through the Zone-based business accelerator SHIFT. This has further increased the scale and diversity of jobs, skills, and partnerships locally.

The CEZ has also supported over 300 businesses and has seen a 140% increase in creative sector jobs since its designation. The total turnover of the creative sector in the Zone increased from £189m in 2018 to £911m in 2023.

Hackney Wick is designated as Hackney’s first circular economy zone, and, last year, the CEZ worked in partnership with the HWFI Community Development Trust to support The Loop - Hackney Wick’s first dedicated circular economy hub - to secure its first long-term lease.

In the next three years, the Hackney Wick and Lower Lea Valley Creative Enterprise Zone will focus on securing inward investment, securing affordable, long-term creative space for local businesses, unlocking innovation by helping organisations in the area to work collaboratively and further supporting the priorities of the Hackney Wick circular economy zone. 

Cllr Sam Pallis, Deputy Cabinet Member for Inclusive Economy, said: “We’re delighted that Hackney Wick’s Creative Enterprise Zone has been re-accredited - supporting the 500 creative and cultural economy businesses based there, and cementing Hackney Wick as the premier location in London for creative and cultural industries. 

“Since the start of the Creative Enterprise Zone, the number of creative jobs in the area has grown by 140%, demonstrating its importance to the local economy and our commitment to protecting and growing Hackney Wick’s creative heart.”

Justine Simons OBE, Deputy Mayor for Culture and the Creative Industries, said: “London is a thriving creative capital, powering our economy, creating jobs and bringing communities together. Artists and creatives are at the heart of this success, but in the face of great challenges our Creative Enterprise Zones are helping them to put down roots with affordable spaces. Our Zones are on course to deliver nearly 80,000sqm affordable long-term space by 2028, supporting hundreds of creative businesses and helping young Londoners to develop their careers in the creative industries.

Patrick from Hackney Wick and Fish Island Community Development Trust said: “The HWFI CEZ has been instrumental in legitimising our community-owned asset mission and raising awareness of what’s possible when councils back community-led infrastructure.

“That recognition directly enabled us to launch and scale The Loop, which has become a

proven model for affordable circular economy workspace. Now we’re working to replicate and expand this approach across other sites in Tower Hamlets, Hackney and  potentially wider East London to create lasting, systemic impact for the area’s economic and environmental future”

Ashleigh Wheeler, Executive Director of The Yard Theatre, said: “The CEZ capital funding was transformational for The Yard Theatre’s energy use, enabling us to ventilate our building in an energy-efficient way and replace our long-outdated tungsten theatre lamps with state-of-the-art LED moving lights. This had a big impact on public attendees, from our community events to our theatrical performances, but it was also an early step to becoming a beacon for environmental sustainability within East London and the wider creative sector. We are transforming our building with recycled materials and innovative green technologies, and this funding enabled us to start that journey early”.

Creative businesses that want to find out more about the zone and support offered to local businesses can join the Hackney Business Network: https://www.hackneybusinessnetwork.co.uk/