Diverse and flourishing local businesses
We will continue to be a great place for business -especially SMEs which bring investment, employment opportunities and vibrancy to our towns and villages.
Opportunities
We need to create flexible and modern workspace with state of the art digital technology that allows people to work anywhere, anytime.
The Local Plan targets 24,000 jobs to 2031, requiring around 240,000 sqm of new floorspace. This presents opportunities to re-think how we will work in future, with the potential to consider self- containment and how we can reduce the need to travel to work.
Undertake continued foresight studies to ensure we understand the conditions to make Central Bedfordshire an attractive place to invest.
Identify opportunities for shared services and networks.
Challenges
Post Covid-19 recovery will be an immediate priority that requires urgency focus. Ensuring that local businesses remain active and viable as we emerge from the pandemic is our primary objective.
SMEs often develop quickly and have changing needs. To retain start-ups in Central Bedfordshire we need to provide spaces for the life-cycle of business.
SMEs often develop quickly and have changing needs. To retain start-ups in Central Bedfordshire we need to provide spaces for the life-cycle of business.
Trends
More businesses
The number of businesses in Central Bedfordshire has been climbing since 2010, despite a decline in 2017 and 2018 which hit small and micro- businesses the hardest.
Small businesses
91% of all enterprises in Central Bedfordshire employ fewer than ten people, higher than the 89% national average.
Business survival rates
Business survival rates in Central Bedfordshire are higher than the UK average, with 46% of businesses born in 2012 surviving their first five years.
What we heard
“We need more local independent businesses to boost our town centres.”
“Need more premises for small start-ups – Cranfield i-Lab and Barclay’s Eagle Lab are not enough.”
“More industry and variety of job opportunities.”
