Overview
The Merton council area showcases a dynamic economic landscape with significant activity in various sectors. With a total of 74,558 employees, the region demonstrates robust employment numbers. Notably, there’s been a rise in employment, with 663 companies reporting an increase in the number of employees. The diverse industrial sector is led by professional, scientific, and technical activities, followed closely by wholesale and retail trade. The council has also witnessed a notable 7.42% growth in employee numbers, underlining a thriving business environment.
Employment and Business Growth
- Total Employees: 74,558. The region shows healthy employment figures, growing at a rate of 7.42%.
- Employee Growth: 663 companies reported an increase in employees, indicating a positive trend in job creation and business expansion.
Sector Dynamics
- Leading Sectors: Professional, scientific, and technical activities (16.12%), wholesale and retail trade (13.86%), and information and communication (13.21%) are the top sectors by company count.
- Sectors with Most Growth: The sectors with significant company increases include Internet platforms, analytics, SaaS, food and drink processing, and mobile apps.
Business Continuity
- Company Cessations: There were 2,956 companies that ceased operations, a figure that requires attention for assessing business sustainability in the region.
- New Companies (2 Years): 3,828 companies were established in the past two years, indicating a vibrant startup environment.
Diversity and Innovation
- Founders’ Gender: 16.39% female founders, 81.51% male, and 2.10% unknown, suggesting a gender gap in entrepreneurship.
- Directors’ Gender: 26.98% female directors, 66.70% male, and 6.32% unknown, showing a similar trend in corporate leadership.
- Innovation Indicators: The region has 143 patent owners and 37 fundraising companies, reflecting a moderate level of innovative activities.
Conclusion
Merton’s economic and business activities are marked by a strong employment base, diverse sectoral growth, and a vibrant startup ecosystem. However, the gender gap in entrepreneurship and leadership, along with a significant number of company cessations, are areas requiring attention. The council’s focus on nurturing growth sectors and addressing sustainability challenges will be crucial in maintaining its economic vitality.