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

Analysis Report: Economic and Business Activity in Enfield

Overview

Enfield’s economic landscape presents a diverse mix of sectors with significant activities in wholesale and retail trade, professional services, and construction. The presence of 42,718 companies, including 6,790 new ones in the past two years, indicates robust entrepreneurial energy. However, a lack of IPOs suggests limited capital market activity. The employment scene is dynamic, with 82,015 employees and a notable 7.66% employee growth, suggesting a healthy job market. The gender distribution among founders and directors shows a skew towards male dominance, although female representation is not insignificant.

Employment and Business Growth

  • Total Employees: 82,015. Enfield shows a healthy employment scene, underlined by a 7.66% growth in employee numbers. This growth, particularly in a diverse economic environment, suggests a robust job market and a potentially attractive location for job seekers.
  • Employee Growth: 7.66%. This significant growth rate indicates either an expansion of existing businesses or an influx of new businesses, or both. It’s a positive sign of economic vibrancy.
  • Top Sectors by Companies: The leading sectors are wholesale/retail trade (6,966 companies), professional services (4,982 companies), and construction (4,951 companies). This diversity suggests a balanced economic structure, reducing reliance on a single industry.
  • Top Growing Sectors: Sectors like SaaS, food and drink processing, and internet platforms are witnessing noticeable company growth, pointing towards modernisation and adaptation to current market trends.

Business Continuity

  • Company Cessations: 5,353. This number, while significant, must be contextualised against the total number of companies and new business formations. It reflects both the competitive nature of the market and the normal lifecycle of businesses.
  • New Companies (Last 2 Years): 6,790. This high number of new businesses indicates a strong entrepreneurial spirit and an environment conducive to business startups.

Sector Dynamics

  • Top Sectors by Number of Companies: Wholesale/retail trade and professional services lead, suggesting these are the most accessible or profitable sectors in Enfield. The presence of sectors like construction and real estate also points to ongoing urban development and infrastructure investment.
  • Number of Scaleups: 80. This number, while modest, indicates a healthy pipeline of growing businesses poised for larger-scale operations.

Gender Diversity in Leadership

  • Percentage of Female Founders: 21.30%. While lower than male founders, this percentage shows a significant female entrepreneurial presence.
  • Percentage of Female Directors: 24.78%. Similar to the founders’ statistics, this indicates room for improvement in gender diversity at the leadership level.

Conclusion

Enfield’s business landscape is characterised by a strong mix of traditional and emerging sectors, a vibrant job market, and a significant rate of new business formation. The data points to a dynamic and evolving economic environment, albeit with areas for improvement in gender diversity and capital market activities.

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