Overview
Brent’s economic landscape is dynamic, reflected by its substantial workforce of 149,787 employees and a diverse range of sectors. Key industries include wholesale and retail trade, construction, real estate, and technical activities. Notably, the city has a significant number of new companies (6,019 in the last two years), indicating a vibrant entrepreneurial environment. However, the city faces challenges with business continuity, as indicated by the number of company cessations (4,633).
Employment and Business Growth
- Total Employees: Brent has a robust workforce of 149,787 employees. The city has experienced a healthy growth in employment, with a 15.57% increase. This growth is significant, suggesting a thriving job market and potentially reflecting broader economic health.
- Employment Raisers: The city has 676 companies that have increased their employee count, demonstrating an active business environment with expanding operations.
Sector Dynamics
- Top Sectors: The dominant sectors in Brent are diverse. The leading sector is ‘Wholesale and retail trade’ (6,121 companies, 17.63%), followed by ‘Construction’ (4,330 companies, 12.47%) and ‘Real Estate Activities’ (4,283 companies, 12.34%). These sectors form the economic backbone of Brent, indicating a balanced mix of service and goods-based industries.
- Growing Sectors: Notable sectors showing growth are ‘Food and Drink Processors’ and ‘Internet Platform’ companies, indicating a trend towards technology and value-added services.
Business Continuity
- Company Cessations: Brent has seen 4,633 company cessations, a figure that demands attention for strategies to improve business sustainability and support.
Entrepreneurship and Innovation
- New Companies: With 6,019 new companies formed in the last two years, Brent showcases a strong entrepreneurial spirit.
- Patent Owners and Fundraisings: The presence of 138 patent owners and 29 fundraisings indicates a fertile ground for innovation and investment.
Diversity in Leadership
- Gender Representation in Founders and Directors: Brent exhibits a gender gap in business leadership, with 21.33% female founders and 24.73% female directors. This underscores the need for more initiatives to support female entrepreneurship and leadership.
Conclusion
Brent’s economy is marked by a significant workforce, diverse sectorial presence, and robust entrepreneurial activity. However, challenges such as the high number of company cessations and gender disparity in leadership positions need to be addressed. Strategies focusing on business sustainability, innovation support, and gender inclusivity could further strengthen Brent’s economic resilience.