Skip to content
The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in Broxbourne

Overview

Broxbourne’s economic landscape is characterised by a diverse array of sectors, with significant activities in construction, retail, and professional services. The council area exhibits dynamic economic features, including a positive employee growth rate and a vibrant mix of new and established companies. However, there’s a notable gap in gender representation among company founders and directors.

Employment and Business Growth

  • Total Employees: Broxbourne has 40,205 employees. The employee growth rate is 7.06%, indicating a healthy, expanding job market.
  • Top Sectors for Employment: Key sectors include Construction (1,465 companies), Wholesale/Retail Trade (1,287 companies), and Professional, Scientific, and Technical Activities (1,167 companies).
  • Sectors with Most Growth: Consumer Banking and Financial Services, and Software-as-a-Service (SaaS) are among the top sectors showing growth.

Business Continuity

  • Company Cessations: The data shows that 951 companies have ceased operations, which could indicate market saturation or economic challenges in specific sectors.
  • New Company Formation: There were 1,181 new companies in the last two years, signifying robust entrepreneurial activity.
  • Small and Medium Enterprises (SMEs): SMEs number 8,244, forming the backbone of the local economy.
  • Scaleups: There are 32 scaleups, demonstrating potential high-growth businesses in the region.

Innovation and International Presence

  • Patent Owners and Grantees: The region has 23 patent owners and 1 grantee, indicating a modest level of innovation.
  • Exporters: 151 companies are engaged in exporting, showcasing an international business presence.
  • Companies with Foreign Parentage: There are 130 companies with foreign parentage, reflecting the area’s global business connections.

Diversity in Leadership

  • Founders Gender Percentage: Female founders constitute 13.46%, while male founders make up 86.54%. This disparity highlights a gender gap in entrepreneurship.
  • Directors Gender Percentage: Female directors are at 27.87%, and male directors at 68.62%, showing a similar gender gap in corporate leadership.

Conclusion

Broxbourne’s economic environment is thriving with diverse sectoral activities and a growing workforce. The increase in new companies and scaleups is a positive indicator of business vitality. However, challenges such as company cessations and a significant gender gap in leadership positions need addressing. The council’s focus could be directed towards supporting SMEs, fostering innovation, and enhancing diversity in business leadership.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.