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.
- 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.
- 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.
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.