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

Analysis Report: Economic and Business Activity in Hillingdon

Overview

The economic landscape of Hillingdon presents a dynamic and diverse mix of sectors and business activities. With a total of 232,042 employees, the region is experiencing a robust business environment. Key sectors such as Wholesale and Retail Trade, Construction, and Real Estate play a significant role in the economy. An interesting aspect is the rising trend in sectors like Software-as-a-Service (SaaS), Mobile Apps, and Healthcare Products. Despite the lack of IPOs, the region shows a positive employee growth rate and a substantial number of new companies, indicating a vibrant entrepreneurial ecosystem.

Employment and Business Growth

  • Total Employees: Hillingdon has a total of 232,042 employees. The employee growth rate stands at approximately 9.91%, which indicates a healthy and growing job market.
  • Sectors with Most Companies: The leading sectors by the number of companies are Wholesale and Retail Trade (6,425 companies), Construction (4,755 companies), and Real Estate Activities (4,240 companies). These sectors collectively contribute significantly to the employment and economic activity in the region.
  • Rising Sectors: Notably, emerging sectors such as SaaS, Mobile Apps, and other technology/IP-based businesses are gaining momentum, reflecting Hillingdon’s potential in the tech and innovation landscape.

Business Continuity

  • Company Cessations: Hillingdon has witnessed a significant number of company cessations, with 4,901 companies ceasing operations. This figure represents challenges in the business environment, possibly due to competitive pressures or changing market dynamics.

Gender Representation in Leadership

  • Founders: There’s a considerable gender gap among founders, with 81.98% being male, 15.70% female, and 2.33% unknown.
  • Directors: The gender disparity is also seen in directorship roles, with 71.43% male directors and 23.01% female directors.

Business Demographics

  • New Companies: The region has seen a substantial influx of new companies, with 7,235 companies established in the last two years. This indicates a strong entrepreneurial spirit and a conducive environment for startups.
  • Small and Medium Enterprises (SMEs): SMEs form the backbone of Hillingdon’s economy, with 23,756 SMEs operating in various sectors.
  • Exporters and Foreign Parent Companies: There are 516 exporters and 940 companies with foreign parentage, highlighting Hillingdon’s integration into the global market.

Conclusion

Hillingdon’s economic landscape is marked by a mix of traditional and emerging sectors, a healthy rate of new business formation, and a significant number of SMEs. The region shows a strong entrepreneurial spirit, although it faces challenges in terms of business continuity and gender disparity in leadership roles. Overall, Hillingdon presents a promising but complex economic picture, with opportunities for growth and areas for improvement.

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