Overview
Kensington and Chelsea, a prominent borough in London, exhibits a diverse economic landscape. With a total of 169,455 employees, the borough has seen a significant rise in employment, particularly in sectors like professional, scientific, and technical activities. The growth in employee numbers (10.7% increase) and the presence of 126 scaleups highlight the dynamic nature of the business environment. The data indicates a strong foundation in traditional industries, coupled with an emerging presence in technology and innovation-driven sectors.
Employment and Business Growth
- Total Employees: 169,455. The borough has witnessed a substantial growth in employment, indicating a thriving economic environment. The 10.7% growth rate in employment suggests a robust job market, potentially driven by the borough’s diverse economic sectors.
- Employee Growth Rate: 10.7%. This notable increase in employment underlines the borough’s capacity to generate new job opportunities, likely supported by the growth of scaleups and new companies.
- Top Sectors for Employment: The leading sectors are professional, scientific, and technical activities (17.54%), wholesale and retail trade (12.51%), and real estate activities (11.54%). This diverse mix reflects a balanced economic structure, supporting both traditional and modern industries.
Sector Dynamics
- Top Sectors by Number of Companies: The borough is dominated by sectors such as professional, scientific, and technical activities, wholesale and retail trade, and real estate. This diversity reflects a robust and versatile economic base.
- Top Sectors Showing Growth: Notable sectors showing growth include Internet platform, E-commerce, and Analytics, indicating a shift towards digital and technology-driven businesses.
Business Continuity
- Company Cessations: 2,728 companies have ceased operations. This figure, albeit significant, must be viewed in the context of the borough’s dynamic business environment, where new ventures constantly emerge.
- New Companies (Last 2 Years): 6,148. This impressive number of new companies highlights the borough’s attractiveness for entrepreneurship and its capacity for business regeneration.
Diversity in Leadership
- Founders’ Gender: 25.85% female founders, indicating a need for more gender diversity in entrepreneurship.
- Directors’ Gender: 28.05% female directors, showing a moderate level of gender diversity in corporate leadership.
Conclusion
Kensington and Chelsea demonstrate a robust and evolving economic landscape, marked by significant employment growth, a diverse sectorial base, and a strong inclination towards technology and innovation. The area is an attractive hub for new businesses and scaleups, though it faces challenges in terms of company cessations and gender diversity in leadership roles.