London Councils and the London Chamber of Commerce and Industry (LCCI) commissioned leading polling company ComRes, to undertake a local business survey of Greater London, considering a range of topics that affect the capital’s business community including: apprenticeships and training, recruitment and retention, migration and outlook and opportunities for the year ahead.
Data was collected for London as a whole, as well as the sub-regions of Central, East, South and West London. The survey will be repeated annually over the next three years.
The survey portrays how increasing transport and housing costs mean businesses in London face stiff challenges in recruiting and retaining staff, with more than half of businesses (54%) intending to recruit in the next year.
Businesses have said they believe it would be much easier if the cost of commuting was lower and housing was more readily available and affordable.
Immigration featured as a major factor, particularly in industries such as accommodation, food, entertainment & recreation services, where 27% felt fewer immigration restrictions would be the main way to ease recruitment difficulties.
When asked about difficulties retaining staff businesses were most likely to list housing (48%), transport (45%) and better government support to offer training programmes (25%) among their top two priorities for action.
Full data tables are available at www.comresglobal.com.
Cllr Peter John OBE, Deputy Chair of London Councils and Executive member for business, skills and Brexit said:
“This report, which we will produce for the next three years, will help boroughs form a better understanding of the views of business leaders – from Southwark to Sutton, Bromley to Barnet and Haringey to Hounslow.
“London boroughs are committed to developing a deeper and more informed conversation with business to ensure that all parts of London’s economy continue to thrive as we rise to the challenge of Brexit.”