Essex In Business

Welcome to the Essex in Business website : an introduction to the county of Essex and in particular its business and economic activities.  At one time Essex Man became well known as the local version of White Van Man: the hard-working, ambitious tradesman.  There are still many of these businesses in Essex, but they are far from being the whole picture.

The Essex Economy

Business in Essex is dominated by the service sector, which accounts for 70% of the county’s total value added. Industry accounts for 28%, and agriculture for just 2%, despite the many acres used for farming.

Industry in Essex is concentrated in the south and west of the county. Harlow is a centre for electronics, and pharmaceutical companies. Chelmsford has long historical connections with the fallen giant Marconi. Two of the major technical breakthroughs in the last 100 years in communications happened in Essex. Harlow is the birthplace of optical fibre, and Chelmsford is the birthplace of radio.

The service sector is spread throughout the county.  Many insurance companies relocated from central London to Essex to cut office and staffing costs.

Brentwood

Brentwood is home to the Ford Motor Company‘s European HQ at the Dunston Campus, which includes a high speed test test track. It is the largest card development  centre in the UK.  As well as technical staff Ford runs some of it’s credit, sales and marketing teams in Dunston.  About 4,000 people in total work there.

Other major employers in the town include banks and insurance companies

Chelmsford

Chelmsford, the county town, has been an important location for electronics companies since

the electronics industry was born. Nowadays the service sector is more important, and it is home to a wide range of insurance and financial services organisations.

Colchester

Colchester has a similar mix of light industry and service business to Chelmsford. The presence of the University of Essex on the outskirts of the town brings in students to the town, and has produced some spin-off businesses. Its local economy is also boosted by its status as a garrison town, which brings a large number of army personnel and support staff to the town.

Southend

For many years Southend’s economy was based on tourism, supported by the easy access to the town by rail from London. It is the closest seaside resort to London, and has 2 rail links.

As the traditional British sea-side summer holiday has declined efforts have been made to re-focus the town as a commercial centre. Service industries such as Visa, and government departments such as H. M. Revenue & Customs (HMRC) are now major employers in the town.

The credit card service industry has declined in recent years, with only   Royal Bank of Scotland, branded as NatWest, still in place.

Efforts to develop the airport were making good progress, with passenger numbers peaking at 2 million in 2018, all on short haul flights to Europe.  Covid caused numbers to crash, and they have not recovered.  The airport is on the Southend – London Victoria line with a regular service.  Despite this the branding as “London Southend” is regarded locally as a joke, as it’s such a long journey into the centre of the city.

Harlow

Harlow has some high-tech major employers, such as electronics and aerospace giant Raytheon and drugs company GSK. It’s also lost others, such as Nortel. It has some excellent mid-sized local companies with strong local and international sales, including award-winning Astro Lighting.

A new Enterprise Zone is under development, hoping to exploit the town’s position on the corridor linking London to Cambridge and Stansted Airport. It includes a major new business park on the east of the town.

The Future

Local businesses hoped that the 2012 Olympics, although outside the county, would generate increased economic activity. The dire general economic conditions at the time put paid to this hope.

A more realistic expectation is that the continued growth of traffic through Stansted Airport will bring increased economic activity. There is talk, but little action, about the M11 corridor linking Cambridge and London becoming a high-tech hotspot. Both Cambridge and London continue to grow, but that growth bypasses Essex