Economy

Our economy is worth £28 billion GVA, larger than Birmingham

A fantastic place for new businesses with high numbers of start-ups and a great survival rate

Major challenges around transport infrastructure, affordable housing and sufficient workspace

The five boroughs of the South London Partnerships are often seen as residential and suburban but in fact they cover a vibrant sub-regional economy.

  • Our economy is already worth £28 billion and home to 1.1 million people
  • We have extremely high skills levels with 51% of residents being educated to degree level or above.
  • We have a fantastic environment for new businesses, we have six times as many start-ups as the London average and their survival rate is better than the London average
  • We have major town centres in Richmond, Wimbledon, Sutton, Kingston and Croydon
  • Major businesses such as Paypal, Ebay, Haymarket, Reed Business Information, Mott MacDonald, Dearman, CIPD, Lidl and Unilever are based in the borough
  • Two companies in the FT’s fastest growing companies in Europe in Sale Group and DotDigital and a nominee for FT’s Boldest Smaller Company in Graze

But there are challenges too:

  • We lack the transport infrastructure to manage congestion and allow sustainable growth
  • There is a lack of both affordable homes and business and incubation space
  • Some wards suffer from over 11% unemployment and 16% of residents having no qualifications
  • 33% of the workforce lack digital skills
  • Our Gross Value Added (GVA) per head is still significantly lower than the London average showing the need for us to improve productivity

That’s why we’re working together to tackle these issues and enable stronger growth in the future through better Transport, better Housing and Planning and better Skills. The South London Partnership’s Growth Proposition sets out our plans.