The Centre for Research in Social Policy has recently published its Minimum Income Standard for London 2024 report, revealing stark shortfalls between what Londoners need and what they actually earn. For the first time since 2014, focus groups agreed that families can no longer rely on social housing, and must budget for private rents that for a three-bed property average £487 per week in Inner London, more than two-and-a-half times the cost of social rent at £182.
These pressures, combined with rising childcare, transport and food costs, are driving many people towards self-employment even as they struggle to make ends meet.
At Tree Shepherd, we see these figures reflected in the experiences of our members, and they underline why our partnership with Trust for London and key developers is so vital. In our interim report to Trust for London (June 2025), we highlighted five core projects that respond directly to the challenges identified by the MIS research:
- Strategic Data-Sharing
In collaboration with British Land and Southwark Council, we have shared insights on transportation links, retail and leisure facilities with local businesses, empowering them to plan for 10 000 incoming residents in the Canada Water development. This data gives entrepreneurs the strategic edge they would otherwise lack, helping them spot new markets and optimize their limited resources. - Lead-Generation and Procurement Workshops
We have delivered a series of workshops co-designed with British Land, equipping participants with actionable strategies to generate leads and navigate procurement processes. A dedicated procurement session is scheduled for 25 June 2025 to deepen understanding of inclusive tendering and open up opportunities for small businesses. - Market Stalls and Pop-Ups
By hosting 12 markets with 120 traders so far, we provide low-risk sales platforms where entrepreneurs can test products, build customer bases and earn vital income when wages fall short. These events also foster community, with links to East Street Market ensuring diversity and affordability. - “Start Your Own Enterprise” Course
Our free, eight-week enterprise course has already empowered dozens of aspiring business owners with the skills to launch and sustain ventures. Participants learn business planning, cash-flow management and marketing, giving them confidence to invest in their ideas despite the cost-of-living squeeze. - Relocation and Workspace Strategies
Working with Berkeley Homes, we developed a relocation strategy for 40 traders affected by the Borough Triangle redevelopment, and we continue to advocate for affordable workspace in new developments. Through our affordable hubs—Thrive in Surrey Quays and GLOWS in Tulse Hill—we offer below-market rents, enabling entrepreneurs to reinvest savings into growth.
We have also initiated discussions with the Southwark Local Access programme to establish a social investment fund for Black-owned businesses, and we are feeding into Southwark Council’s Affordable Workspace Strategy to ensure flexible pricing models and equitable access for marginalised groups.
These initiatives directly address the budget gaps highlighted by the MIS report, where rent can consume nearly half of a lone adult’s minimum income, childcare and housing absorb over 60 percent of a single parent’s budget, and rising transport and food costs have pushed family budgets up by around a third since 2022. By combining data-driven insights, practical training, market opportunities and secure workspaces, Tree Shepherd and Trust for London are closing the gap between real living costs and the living wage.
To local authorities, developers and philanthropic partners seeking a proven, grassroots approach to economic development, we offer a model that embeds equity, inclusion and sustainability at every stage. By co-designing projects with residents and leveraging strong partnerships, we can build resilient high streets and thriving local economies, even in the face of London’s rising living costs.
If you’d like to explore partnership opportunities or learn more about how we’re making London work for small businesses, please get in touch at jamie-lee@treeshepherd.org.uk. Together, we can ensure that no entrepreneur is driven away by the cost of living, and that every small business has the chance to flourish.
