Overview
Wandsworth’s economic landscape is characterised by a diverse range of sectors, with significant employment and business growth. The region is home to a thriving business community, evidenced by the presence of numerous companies across various sectors. This report delves into Wandsworth’s employment statistics, sector dynamics, company trends, and other key economic indicators.
Employment and Business Growth
- Total Employees: Wandsworth employs 189,101 individuals, reflecting a vibrant labor market. The region has seen a notable rise in employment, with 804 companies reporting an increase in their workforce.
- Percentage Employee Growth: The employee growth percentage stands at 8.71%, indicating a healthy expansion in the job market.
- Top Sectors for Employment Growth: The sectors leading this growth include Professional, Scientific, and Technical activities (18.25% of companies), Wholesale and Retail Trade (13.22%), and Real Estate activities (11.44%).
Sector Dynamics
- Top Sectors by Number of Companies: The leading sectors in terms of company count are Professional, Scientific, and Technical activities (5,079 companies), followed by Wholesale and Retail Trade (3,680 companies), and Real Estate activities (3,183 companies).
- Fastest Growing Sectors: Sectors with the most significant growth include Food and Drink Processors, Mobile Apps, Analytics and Tools, Internet Platforms, and Software-as-a-Service (SaaS).
Business Continuity
- Total Companies: There are 27,832 companies in Wandsworth, indicating a robust and diverse business environment.
- New Companies (Last 2 Years): 7,271 new companies have been established in the last two years, showcasing a dynamic and evolving business landscape.
- Company Cessations: There are 3,920 companies that ceased operations, reflecting the competitive nature of the business environment.
Company and Innovation Trends
- Number of SMEs: Wandsworth hosts 20,748 Small and Medium Enterprises (SMEs), which form the backbone of the local economy.
- Exporters and Foreign Parent Companies: The region has 410 exporters and 533 companies with foreign parentage, highlighting its global business connections.
- Fundraisings, Patent Owners, and Grantees: The area witnessed 149 fundraisings, has 19 patent owners, and 91 grantees, indicating a strong inclination towards innovation and growth.
Demographics and Diversity
- Founders’ Gender: 21.6% of founders are female, 75.8% male, with 2.6% unspecified.
- Directors’ Gender: 30.64% of directors are female, 63.6% male, and 5.76% unspecified.
- Age Distribution of Directors: The directors’ age distribution shows a diverse range: 22.16% are above 60, 23.96% between 50-60, 25.48% between 40-50, 21.32% between 30-40, and 6.28% between 20-30, with 0.12% under 20.
Conclusion
Wandsworth’s economic landscape is vibrant and diverse, characterised by significant employment growth, a variety of sectors, and an active business environment. The region’s commitment to innovation and global connectivity is evident in its large number of SMEs, exporters, and companies with foreign parentage. The demographics of founders and directors reflect a moderately diverse and experienced business community.