Overview
Sutton presents a diverse economic landscape with significant activity in sectors like professional, scientific and technical activities, construction, and retail trade. With 82,031 total employees and a 7.65% employee growth rate, the area shows robust employment trends. The presence of 16344 companies, including 2101 new companies in the last two years, indicates a dynamic business environment. However, no IPOs were recorded, suggesting a focus on small and medium enterprises (SMEs) rather than large-scale public companies.
Employment and Business Growth
- Total Employees: 82,031 employees. The employee count in Sutton has risen, showing a healthy growth in the job market. A 7.65% growth rate in employment indicates a vibrant and expanding labor market.
- Employee Growth Rate: 7.65%. This growth rate signifies a positive trend in employment, suggesting either an expansion of existing businesses or an influx of new companies.
- New Companies (2 years): 2,101. The introduction of over 2,000 new companies in two years underscores Sutton’s appeal as a hub for entrepreneurship and business development.
Sector Dynamics
- Top Sectors: The leading sectors include professional, scientific, and technical activities; construction; and retail trade. These sectors are not only the largest employers but also reflect the diversity of Sutton’s economic base.
- Sector Growth: Notably, emerging sectors like internet platforms and food-related services are growing, indicating a shift towards digital and consumer-oriented businesses.
Business Continuity
- Company Cessations: Sutton has experienced a total of 1,785 company cessations, which could be indicative of market saturation, competitive pressures, or economic shifts affecting certain sectors.
Company Trends
- Number of Scale-ups: 46. This number suggests a moderate level of business scaling, important for long-term economic growth.
- SMEs: 12,907. A high number of SMEs indicates a strong backbone of small businesses, crucial for local economic stability and diversity.
- Exporters: 203, and Companies with Foreign Parentage: 183. These figures suggest international business connections, which can bring additional skills, investment, and market access.
Innovation and Growth
- Patent Owners: 198. A moderate number of patent owners highlights some degree of innovation within Sutton.
- Number of Grantees: 2. This low figure might indicate limited research and development activity or funding opportunities.
Diversity in Leadership
- Founders’ Gender: 24.69% female, 74.07% male. There is a gender gap in entrepreneurship, with male founders predominating.
- Directors’ Gender: 28.55% female, 66.44% male. Similar to founders, a gender disparity exists among company directors.
Conclusion
Sutton’s economic environment is characterised by a diverse sectoral composition, robust employment growth, and a strong presence of SMEs. While there is considerable business activity, the low number of scale-ups and IPOs indicate a focus on smaller enterprises. The gender disparity in leadership roles highlights an area for potential improvement. Overall, Sutton’s economy appears healthy, with opportunities for growth in emerging sectors and innovation.