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

Analysis Report: Economic and Business Activity in Hertsmere

Overview

The economic landscape of Hertsmere showcases a diverse range of business activities, with prominent sectors like real estate, professional services, and construction. The data indicates a healthy mix of established companies and new entrants, suggesting a dynamic and evolving business environment. The region demonstrates a moderate growth in employment, a notable number of scaleups, and a balanced gender representation among company founders and directors.

Employment and Business Growth

  • Total Employees: Hertsmere has a total of 138,543 employees. The number of employees has risen recently, with 245 companies reporting an increase in their workforce.
  • Percentage Employee Growth: The employee growth rate is 8.05%, reflecting a positive trend in job creation.
  • Top Sectors for Employment Growth: The leading sectors for employment growth are ‘Internet platform’, ‘Software-as-a-service (SaaS)’, and ‘Analytics, insight, tools’, indicating a strong presence of the tech industry in Hertsmere.

Sector Dynamics

  • Top Sectors by Number of Companies: The major sectors are real estate (2629 companies), professional services (2573), and construction (1981), which dominate the local economy.
  • Emerging Sectors: Emerging sectors with notable growth include tech-oriented fields like internet platforms and SaaS, highlighting a shift towards a digital economy.
  • Number of Companies: There are 18,147 companies in Hertsmere, showing a vibrant business ecosystem.
  • New Companies in Last 2 Years: A total of 3,594 new companies were established in the last two years, demonstrating significant entrepreneurial activity.
  • Scale-ups: Hertsmere hosts 77 scale-up companies, indicating a supportive environment for business growth.

Business Continuity

  • Company Cessations: The region has seen 1,766 companies cease operations, which is a vital metric for assessing business sustainability in the area.

Gender Representation in Leadership

  • Founders’ Gender: 17.14% of founders are female, 82.14% are male, and 0.71% are of unknown gender.
  • Directors’ Gender: Female directors constitute 24.74% of the total, while male directors make up 69.39%, and 5.88% are of unknown gender.

Conclusion

Hertsmere presents a robust and diverse economic environment, with significant growth in tech-oriented sectors and a substantial number of new businesses. The region shows healthy employment growth and a supportive ecosystem for scale-ups. However, the gender disparity in leadership roles and company cessations are areas that could benefit from targeted strategies to ensure balanced growth and business sustainability.

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