Thames Gateway London Business Survey
Gateway to London (GtL) recently conducted its first regional business survey, asking companies from across Thames Gateway London to tell us their views on the area.
The survey was sent out to companies from the many business sectors that can be found in the region, including manufacturing, logistics and creative industries. Our distribution process ensured that responses came from companies that GtL have not previously been in contact with, as well as those that we have worked with in the past. This guaranteed that we received a balanced response and could identify trends in views and opinions by location as well as sector.
The survey will now form part of GtL's regular intelligence and information gathering processes and will be carried out annually, so we can track the perceived progress of the region amongst our companies. This will also enable us to clearly see the work that needs to be done to continue improving the Thames Gateway London business offer.
Executive Summary
The survey was divided into three sections - the first asking about the company, the second asking for views on key issues in the region and the last feeding back firms' experiences of working with GtL.
In the first section, the questions elicited a very noticeable trend - diversity. There is a huge range of businesses based in the region. This includes everything from leading UK logistics and distribution companies to high-tech IT firms, and well known manufacturing and engineering businesses to major up and coming research and development enterprises.
There was also considerable variety of responses in terms of location and employee numbers, with businesses represented from all nine GtL boroughs, covering everyone from micro businesses to large multinationals.
The responses for this section also showed that over 50% of businesses surveyed have their roots in Thames Gateway London, having started up here and grown with the help of the many opportunities that are available throughout the region. This demonstrates the strength and stability of businesses in the region, as well as the vital investment that they are continuing to make to the local economy by employing generations of workers. GtL looks forward to helping continue this trend.
In terms of those companies who have relocated to the Thames Gateway London region, property availability was by far the most common reason behind their decision to locate here. Combining this with the breadth of sectors operating here, it is clear that one of Thames Gateway London's strongest advantages over other regions is the range of competitively priced buildings which appeal to a wide variety of businesses.
The survey then asked a series of opinion based questions, designed to gather valuable information about what companies in the region see as the benefits of being here, and what will be needed in the future to secure business growth. We were delighted that nearly three quarters of companies who responded said they were satisfied with their location and that just under half said that they think the region is getting better (the top answer).
The responses here also revealed what business felt were the key issues to be addressed in Thames Gateway London. Transport connectivity was the most popular answer, with 56% of companies, the largest majority of all the opinion based questions, seeing it as crucial to businesses in the region. Also cited as important was the delivery of an overall strategy and vision.
The survey then went on to find out if companies thought transport infrastructure in the region was improving and what were the priorities for making things better. The responses were almost exactly a 50:50 split between ‘better' and ‘worse'. In terms of the scheme that would be most beneficial, a huge 37% of companies chose the Thames Gateway Bridge, with 16% selecting Crossrail. Six percent also made alternative suggestions such as regional road improvements, better suburban trains and a Blackwall Tunnel upgrade.
The third and final section was designed to find out about how companies use GtL services, and how they found out about the agency.
Interestingly, most businesses had found out about GtL through the media, while 14% had become aware of the agency through our events and networking programme.
There was also considerable variety in terms of GtL services that had been used by businesses, including relocation advice, property search and advice on financial assistance, demonstrating the very diverse requirements of the region's companies and the range and depth of support GtL offers companies.
And finally, we were delighted at the level of interest companies showed in receiving further news and information about GtL and our work in the region, as well as specific requests for support from our team.
Key Findings
• 66% of companies surveyed are either ‘fairly satisfied' or ‘very satisfied' with their
Thames Gateway London location
• 42% of businesses feel that the region is improving (top answer)
• 70% of businesses who responded were set up in Thames Gateway London and
have stayed in the region
• Thames Gateway London is a place for growth and stability - 51% of businesses
have been here for over 16 years while 47% have been here for between one and
15 years
• 43% say transport connectivity has improved in the last three years
• The Thames Gateway Bridge is the most important piece of new transport
infrastructure for businesses (37%)
• A third of companies surveyed are looking to expand their business or move
premises in the region
Key Themes
• A wide range of sizes, industries, ages, premises types and turnovers of the
companies in the region
• Transport connectivity is the biggest issue for firms in Thames Gateway London
• There is an even split between companies who have leasehold and freehold
premises
• There is a good knowledge of GtL amongst businesses (81%) and nearly a quarter
have used the agency's services in the last five years
A full version of the Thames Gateway London Business Survey can be found here.
