Overview
Hammersmith and Fulham, a vibrant area in London, exhibits diverse economic activities with significant contributions from sectors like real estate, professional services, and information and communication. Despite no new IPOs, the area shows healthy growth in employment and business, with a notable increase in employees and a surge in new companies over the last two years. The presence of a substantial number of SMEs and exporters reflects a dynamic business environment.
Employment and Business Growth
- Total Employees: Hammersmith and Fulham has a total of 215,113 employees. The employee base grew by 13.26% indicating robust economic activity and job creation.
- Employee Growth Drivers: The region saw 4,213 businesses raising their number of employees, signifying an expanding job market.
- Top Sectors for Employment: The leading sectors by company count are Real Estate (24.29%), Professional Services (14.8%), and Information & Communication (10.87%).
- Sectors with Most Growth: Sectors like Internet Platform, Software-as-a-Service (SaaS), and Food & Drink Processors are showing significant growth in company numbers, pointing towards emerging industry trends.
Business Continuity
- Company Cessations: The area reported 2,937 companies ceasing operations, which is a critical metric to monitor for assessing business sustainability in the region.
- Scaleups: With 158 scaleups, there’s a clear indication of growing companies scaling their operations, contributing to economic dynamism.
- New Companies: Over the past two years, 10,407 new companies have been established, highlighting a strong entrepreneurial spirit and a conducive environment for startups.
- SMEs and Exporters: The region houses 19,353 SMEs and 581 exporters, underlining the significant role of small and medium enterprises in the local economy.
Gender Representation
- Founders’ Gender: 20.32% of founders are female, 77.43% male, with 2.25% unspecified, showing a gender gap in entrepreneurship.
- Directors’ Gender: 27.81% of directors are female, 61.50% male, and 10.69% unspecified, indicating a similar trend in leadership roles.
- Age Distribution of Directors: The age distribution of directors shows diversity, with a higher concentration in the 40-60 age range.
Innovation and Business Development
- Fundraisings and Patent Owners: With 1,131 fundraisings and 30 patent owners, there’s evidence of active investment and innovation in the region.
- Young Companies with Young Directors: 1,479 companies are led by young directors, suggesting a youthful and potentially innovative business leadership landscape.
- Spinouts and Attendance: The absence of spinouts and low attendance numbers (130) could point to areas for improvement in fostering academic and corporate collaborations.
Conclusion
Hammersmith and Fulham demonstrate a strong and diverse economic profile with significant growth in employment and new businesses, especially in sectors like real estate, professional services, and technology. The area’s economic landscape is marked by an increase in scaleups and SMEs, though there is a notable gender gap in entrepreneurship and leadership roles. The region’s innovation potential is evident in its fundraising and patent activities, suggesting a fertile ground for future economic development.