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

Analysis Report: Economic and Business Activity in Lambeth

Overview

Lambeth, a dynamic and diverse borough, exhibits a vibrant economic landscape. With a total of 344,200 employees and a significant presence of companies in sectors like professional, scientific, technical activities, and retail trade, Lambeth’s economy reflects both diversity and specialisation. The rise in employment, alongside a noteworthy number of new companies and scaleups, points to a robust and evolving economic environment.

Employment and Business Growth

  • Total Employees: 344,200. Lambeth’s workforce is substantial, indicating a strong employment base. The 14.26% employee growth rate suggests a rapidly expanding job market, likely driven by new businesses and sector expansions.
  • Employee Raisers: 2,970 companies. This represents businesses that have increased their workforce, a positive sign of business health and expansion in the borough.
  • Top Sectors by Company Count: Professional, scientific and technical activities lead (4,274 companies), followed by retail trade/repair (3,324) and information and communication (2,960). This diversity shows Lambeth’s capacity to support a range of industries.
  • Top Sectors by Growth: Sectors like Internet platforms, mobile apps, and SaaS show significant growth. These emerging tech sectors, although smaller in number, are critical for future economic resilience and innovation.

Business Dynamics

  • Number of IPOs: 0. This indicates a focus on private or smaller-scale business ventures rather than public companies.
  • Number of Scaleups: 124. These are high-growth businesses that significantly contribute to economic dynamism and job creation.
  • New Companies (Last 2 Years): 4,395, showcasing a vibrant entrepreneurial environment and business creation activity.
  • SMEs: 19,172, forming the backbone of Lambeth’s economy by providing diverse services and employment.

Business Continuity

  • Company Cessations: 3,663, which is a natural part of the business lifecycle, but it also highlights the competitive nature of the borough’s business landscape.

Diversity and Innovation

  • Founders Gender: 18% female, 80.35% male, reflecting a gender gap in entrepreneurship that warrants attention.
  • Directors Gender: 29.70% female, 64.47% male, indicating a similar gender disparity in leadership roles.
  • Young Directors in Young Companies: 1,716, suggesting a significant presence of young entrepreneurship and leadership.
  • Patent Owners: 23, a modest number but indicative of some degree of innovation within the local economy.
  • Exporters and Foreign Parent Companies: 374 exporters and 641 companies with foreign parentage, reflecting international business ties and export-oriented businesses.

Conclusion

Lambeth’s economy is characterised by robust employment growth, a thriving small and medium-sized enterprise (SME) sector, and a diverse industrial base. While traditional sectors like retail and professional services dominate, emerging tech sectors are showing promising growth. The gender gap in entrepreneurship and leadership remains a challenge. Overall, Lambeth presents a dynamic and evolving economic landscape with opportunities for further growth and innovation.

Company foundations and cessations over time

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