Record numbers of businesses were set up in Mitcham this year, according to a new report.

Research by business analysts Duport found 409 new companies were formed in Mitcham in the first half of 2013 - more than any other half year in the history of Mitcham. .

These positive statistics could be linked to a £6.2 million regeneration of the town centre which include plans for a new bus lane, permanent market canopy for outdoor events, new public toilets, a newly landscaped Fair Green and extra parking spaces, as well as feature lighting, seating areas and public art.

Peter Valaitis, managing director of Duport.co.uk, said: "There are some very exciting plans in the pipeline for Mitcham town centre, which is doubtless one of the reasons behind the increased company formation.

"As the regeneration progresses, we may well see even more new companies choosing to set up in the area."

The Duport Business Confidence Report for Mitcham uses a mix of economic data to provide an insight into the local economy.