Introduction
The following report provides a comprehensive analysis of the business environment across various councils within the London region. Utilising aggregated data from the year 2022, this report aims to offer insights into employment trends, sector performance, and other key economic indicators. The purpose is to identify areas of strength and potential improvement, helping stakeholders make informed decisions.
Population and Employment Overview
| Council | Number of Employees | Population | Employees per 1000 Residents |
|---|---|---|---|
| City of London | 2,795,205 | 6,585 | 424,512.23 |
| Westminster | 3,154,551 | 184,609 | 17,093.84 |
| Camden | 917,685 | 190,433 | 4,817.86 |
| Islington | 776,787 | 182,531 | 4,256.14 |
| Southwark | 718,372 | 232,156 | 3,093.56 |
| Tower Hamlets | 1,101,492 | 238,329 | 4,621.16 |
| Hackney | 276,931 | 201,333 | 1,375.70 |
| Lambeth | 344,200 | 242,234 | 1,420.95 |
| Wandsworth | 189,101 | 238,548 | 792.87 |
| Hounslow | 305,628 | 178,559 | 1,711.85 |
| Barnet | 208,819 | 254,007 | 822.35 |
| Ealing | 159,159 | 222,463 | 715.54 |
| Brent | 149,787 | 218,386 | 685.74 |
| Croydon | 151,839 | 247,841 | 612.84 |
| Enfield | 82,015 | 213,093 | 384.83 |
| Hillingdon | 232,042 | 198,249 | 1,170.46 |
| Hammersmith and Fulham | 215,113 | 130,899 | 1,643.41 |
| Kensington and Chelsea | 169,455 | 104,804 | 1,616.57 |
| Kingston upon Thames | 85,387 | 116,839 | 730.79 |
| Merton | 74,558 | 136,623 | 545.95 |
| Newham | 145,750 | 247,767 | 588.66 |
| Redbridge | 88,618 | 197,872 | 447.92 |
| Richmond upon Thames | 95,507 | 125,007 | 764.02 |
| Sutton | 82,031 | 130,824 | 626.91 |
| Waltham Forest | 54,382 | 186,221 | 291.94 |
| Barking and Dagenham | 34,876 | 135,145 | 258.09 |
| Bexley | 51,294 | 156,000 | 328.80 |
| Bromley | 102,740 | 206,398 | 497.75 |
| Haringey | 55,775 | 186,635 | 298.99 |
| Havering | 72,394 | 160,180 | 451.89 |
| Lewisham | 36,001 | 214,122 | 168.11 |
Key Findings
The data reveals significant disparities in employment rates relative to population across the councils. The City of London, despite its small population, boasts an extraordinarily high number of employees, indicating a dense concentration of businesses. In contrast, councils like Lewisham and Barking and Dagenham show much lower employment rates per capita, suggesting potential areas for economic development and job creation.
Regarding sector performance, the ‘Professional, scientific and technical activities’ sector dominates in several councils, including Camden, Islington, and Southwark, aligning with London’s reputation as a hub for professional services. The ‘Wholesale and retail trade / repair of motor vehicles and motorcycles’ sector also shows strong presence across multiple councils, reflecting the vibrant commercial activity in the region.
Investment and innovation metrics such as the number of companies raising funds in 2022 and the presence of patent owners are notably high in Westminster, Camden, and the City of London, underscoring these areas as key centres of economic dynamism. However, areas like Waltham Forest and Barking and Dagenham lag behind, highlighting a need for targeted investment to foster innovation and growth.
Conclusion and Recommendations
This report underscores the diverse economic landscape of London’s councils. While some areas exhibit robust employment and innovation indicators, others present opportunities for targeted economic development initiatives. To enhance overall regional growth, it is recommended to focus on:
- Strengthening employment opportunities in councils with low employment per capita through incentives for businesses to establish operations.
- Encouraging investment in innovation in lagging areas by facilitating access to funding and support for startups and SMEs.
- Continuing to support sectors that show strong performance while also diversifying the economic base to make it more resilient to sector-specific downturns.
By addressing these recommendations, London can ensure balanced economic growth and maintain its status as a leading global city for business and innovation.