Overview
Central Bedfordshire demonstrates a vibrant economic landscape marked by a diverse range of sectors and a significant number of small and medium-sized enterprises (SMEs). With a total of 183,373 employees, the area shows dynamic economic activity. The presence of a range of sectors, notably professional, scientific, and technical activities, indicates a well-rounded economic base.
Employment and Business Growth
- Total Employees: 183,373. This figure reflects the robust employment landscape in Central Bedfordshire. The growth in the number of employees, with 130 companies reporting increases, indicates a thriving job market.
- Employee Growth: The 6.08% employee growth rate suggests a healthy expansion in the workforce, reflecting the economic vitality of the region.
- Top Sectors for Growth: Sectors such as professional, scientific and technical activities, construction, and wholesale and retail trade show the highest number of companies, suggesting these are key drivers of the local economy.
Sector Dynamics
- Top Sectors: The region’s economy is diverse, with leading sectors including professional, scientific and technical activities (16.68% of companies), construction (14.68%), and wholesale and retail trade (12.4%). This diversity is a strength, indicating resilience against sector-specific downturns.
- Sectors with Most Growth: Sectors like internet platforms, business and professional services, leisure and entertainment, energy reduction technology, and mobile apps are emerging as significant growth areas, signaling a shift towards technology and service-oriented industries.
Business Continuity
- Company Cessations: The data does not provide specific figures for company cessations, but the presence of 18,831 companies and 2,404 new companies in the last two years suggests a dynamic business environment with ongoing new entries.
- New Companies: With 2,404 new companies emerging in the last two years, the region shows a strong entrepreneurial spirit and a conducive environment for business startups.
Conclusion
Central Bedfordshire showcases a robust and diversified economic environment with strong growth in employment and a dynamic range of sectors. The rise in professional services, technological industries, and SMEs indicate a forward-looking economy. The presence of a substantial number of new companies highlights the area’s potential for innovation and business development.