Overview
Hounslow showcases a dynamic and diverse economic landscape, marked by significant activity in various sectors. Key aspects include the prevalence of wholesale and retail trade, professional and technical activities, and a notable presence in the information and communication sector. With a total of 305,628 employees, the area is experiencing a positive trend in business growth, evidenced by the rise in the number of employees and a diverse range of companies contributing to its economic vibrancy.
Employment and Business Growth
- Total Employees: Hounslow employs 305,628 individuals, showing a robust workforce. A significant rise in the number of employees (147 companies reporting increases) indicates healthy business growth.
- Percentage Employee Growth: The employee growth rate stands at 10.49%, reflecting an upward trend in employment opportunities.
- Number of Scaleups: The presence of 92 scaleup companies suggests a fertile ground for business expansion and innovation.
- New Companies in 2 Years: With 4,963 new companies in the last two years, there’s evident entrepreneurial dynamism.
- Small and Medium Enterprises (SMEs): 19,657 SMEs form the backbone of the local economy, highlighting the importance of smaller businesses.
Sector Dynamics
- Top Sectors: Wholesale/retail trade and motor vehicle repair (5,052 companies, 18.05%), professional/scientific/technical activities (4,175 companies, 14.92%), and information and communication (3,989 companies, 14.25%) dominate the sectorial landscape.
- Sectors with Rising Company Numbers: Notably, sectors such as Internet platforms, analytics and insights tools, and mobile apps are experiencing growth in company numbers, indicating a shift towards digital and technological businesses.
Business Continuity
- Company Cessations: There have been 3,681 company closures, highlighting challenges in sustaining businesses in certain sectors.
Gender Representation
- Founders’ Gender: 16.74% of companies have female founders, while 82.35% have male founders.
- Directors’ Gender: Female directors are at 24.71%, and male directors at 69.47%. The data reflects a gender gap in leadership roles.
Additional Insights
- Young Companies with Young Directors: 1,699 companies have young directors, showcasing youthful entrepreneurship.
- Exporters and Foreign Parent Companies: There are 519 exporters and 972 companies with foreign parentage, indicating global business connections.
- Innovation Indicators: The region is home to 30 fundraising activities, 2,600 patent owners, and 9 grantees, pointing towards a strong focus on innovation and intellectual property.
Conclusion
Hounslow’s economic landscape is marked by a mix of traditional and emerging sectors, with a strong emphasis on technology and innovation. The growth in employment, the rise of scaleups, and the presence of a significant number of SMEs demonstrate the area’s economic vitality. However, the gender gap in leadership roles and the rate of company cessations indicate areas for improvement. Overall, Hounslow presents a dynamic and evolving economic environment with potential for future growth and diversification.