Banks may be asked to fund CCTV systems in the wake of two violent robberies in Woodford Green.
The Woodford Traders Association is looking to set up a meeting with Redbridge Council this week to discuss the installation of the cameras and look at funding options.
Businesses want at least four cameras to protect the area and ward councillor Jim O'Shea confirmed that HSBC, Barclays and Natwest have been approached about helping to pay for the CCTV.
Cllr O'Shea told the Guardian: "I am hopeful they will indeed contribute.
"With the number of robberies that have been happening round here lately they really ought to contribute to this for the benefit of all businesses."
In May, a gang robbed a local jewellers, while April saw a Securicor guard attacked and robbed outside the NatWest bank.
A meeting about CCTV is currently scheduled for July 3rd - when several key security councillors return from holiday.