Overview
Bexley’s economy presents a dynamic landscape with diverse sectors contributing to its growth. The total number of employees stands at 51,294, indicating a vibrant labour market. The city has seen a positive trend in employment growth, with a notable 7.72% increase. The business environment is characterised by a mix of mature and emerging sectors, with significant activities in construction, professional, scientific, technical activities, and administrative support.
Employment and Business Growth
- Total Employees: 51,294 employees. The significant employee base in Bexley demonstrates a robust job market. The 7.72% employee growth rate suggests a thriving economic environment, attracting talent and fostering business expansion.
- Employee Growth Drivers: Notably, five sectors have shown employment growth: Insurance Services, Payment Processing, Software-as-a-Service (SaaS), and Other Personal Healthcare Services. This diverse range of growing sectors reflects Bexley’s adaptive and evolving economic landscape.
Sector Dynamics
- Top Sectors: Construction (3,312 companies), Professional Services (2,598 companies), Administrative Support (2,484 companies), and Wholesale/Retail Trade (2,237 companies). These sectors form the backbone of Bexley’s economy, contributing significantly to employment and business activities.
- Emerging Sectors: Sectors such as Insurance Services, Payment Processing, SaaS, and Personal Healthcare Services are emerging as new growth areas, reflecting a shift towards technology and service-oriented businesses.
Business Continuity
- Company Cessations: There are no available data on company cessations, which limits the assessment of business continuity in the region.
Gender Diversity in Leadership
- Founders’ Gender: 21.62% female founders and 78.38% male founders. This indicates a gender gap in entrepreneurial activities, with male founders being predominant.
- Directors’ Gender: 28.36% female directors and 67.22% male directors. The distribution shows a similar gender disparity in leadership positions.
Company Demographics
- Total Companies: 19,488. This robust number of companies suggests a diverse and competitive business landscape.
- New Companies (Last 2 Years): 2,974. The emergence of new companies indicates a dynamic market with opportunities for new entrants.
- SMEs: 15,107. Small and medium-sized enterprises (SMEs) form a significant portion of the business ecosystem, underlining their role in the local economy.
- Exporters: 192. The presence of exporters underscores Bexley’s participation in the global market.
- Companies with Foreign Parentage: 88. This reflects the city’s attractiveness to foreign investments.
Innovation and Growth
- IPOs: 0. The absence of IPOs suggests a focus on private or small-scale businesses.
- Scaleups: 64. This number of scaleups indicates a healthy environment for business growth and expansion.
- Patent Owners: 39. The presence of patent owners denotes a degree of innovation within the local businesses.
- Funding Rounds: 1. Limited funding activities point towards self-sustained or alternative financing models for businesses.
Conclusion
Bexley’s economic landscape is marked by a strong employment base, diverse sector involvement, and a substantial number of SMEs. While there is notable growth in technology and service sectors, traditional sectors like construction and retail trade continue to thrive. Gender diversity in leadership roles remains an area for improvement. The city shows potential for innovation and international trade, although funding and public listings are limited. Overall, Bexley’s economic health appears robust, with opportunities for further growth and diversification.