Overview
Bromley showcases a diverse economic landscape with significant activities in professional, scientific, technical, construction, and real estate sectors. The region’s employment and business growth indicate a healthy economic environment. Despite having no IPOs recently, the area shows a commendable growth rate in employees and scale-ups, suggesting robust business development.
Employment and Business Growth
- Total Employees: Bromley employs 102,740 individuals, a healthy figure for regional economic stability.
- Employee Growth Rate: The 6.92% growth in employment is indicative of an expanding job market and economic health.
- Number of Scale-ups: With 107 scale-ups, the area shows a promising environment for business expansion and development.
Sector Analysis
- Top Sectors: The leading sectors are diverse, with professional, scientific and technical activities (15.6%), construction (12.42%), and real estate activities (12.01%) being the most prominent. This diversification is beneficial for economic resilience.
- Sector Growth Drivers: The sectors showing significant growth include mobile apps, technology/IP-based businesses, e-commerce, internet platforms, and health and fitness. These sectors represent modern, high-growth industries.
Business Continuity
- Company Cessations: Bromley witnessed 2,864 company cessations, a figure that needs to be balanced with new company formations for sustainable economic health.
- New Companies: With 6,638 new companies over two years, there is a vibrant startup environment, although this needs to be seen in the context of company cessations.
Gender Representation
- Founders Gender Breakdown: The gender distribution among founders is skewed with 83.65% male, 15.09% female, and 1.26% unknown. This highlights a significant gender gap in entrepreneurship.
- Directors Gender Breakdown: A similar trend is observed among directors, with 64.87% male and 29.81% female.
Conclusion
Bromley’s economic environment is marked by a strong and diverse sector presence, robust employment growth, and an active startup ecosystem. However, challenges include a gender disparity in business leadership and the balancing of new company formations with cessations. Overall, Bromley presents a dynamic and evolving economic landscape with potential for further growth and diversification.