The views from the newly opened 14-storey hotel next to Walthamstow Central station are pretty spectacular. The towers of Canary Wharf, the skyline of the City of London and the retail behemoth that is Westfield all loom large in the near distance.

But it is not necessary to take the lift to the top of the Travelodge to recognise Waltham Forest’s proximity to these economic powerhouses. Nor does one need to watch people stream in and out of the station below to understand how many local residents work 15 minutes away in the West End or the City. We know that we need to complement what lies beyond the borough boundaries.

But we also recognise that businesses are increasingly looking to come to Waltham Forest as we go through an unprecedented period of regeneration. It is important that we understand how they fit in with the small and medium-sized businesses that dominate our borough.