Westminster has the highest number of employees of any the capital’s boroughs by some distance, representing 13% of London’s workforce. This is nearly twice the amount when compared to the second highest borough, which is the City of London.
Several startup hubs are emerging across the city, particularly in technology. Looking at recent government statistics, Westminster stands out as one of the hotbeds for start-ups, with a high number of new businesses opening each year.
For Westminster, employee jobs are overwhelmingly located in the two central wards of St James’s and the West End, which combined account for the location of nearly two thirds of all Westminster jobs.
Westminster also has the single largest number of businesses of any London borough, with 50000+ businesses currently located in Westminster, which is around 12% of London’s total, and is a growing figure.
Many leading global corporations have chosen to establish their global or European headquarters in the City of Westminster. Mayfair and St. James’s within the City of Westminster also have a large concentration of hedge fund and private equity funds.
Britain is home to the HQ’s of 29 Global 500 companies, seven of these are in Westminster, including BP, BAE Systems and the Rio Tinto Group.