Impact Data Metrics (IDM), the leading data provider to local authorities and economic development bodies, has completed a trailblazing project to identify the businesses which will help hundreds of thousands of properties in South London decarbonise.
Working for the South London Partnership, a sub-regional collaboration of six London boroughs, IDM has used its industry-leading, machine-learning powered software, IDM Business, to map where across the sub-region the businesses are that can deliver retrofit to 635,000 homes and commercial premises.
IDM’s research has enabled SLP to establish not only where across, Croydon, Sutton, Merton, Kingston Upon Thames, Richmond Upon Thames and Wandsworth, the businesses are physically located, but also their specific trades, be they electricians, heating engineers, plumbers, roofers or glaziers.
It has mapped out the number of people these companies employ, how long they have been trading and even their financial health.
Geoff Wainwright, Chief Executive of IDM said: “We were able to build a clear picture of the sector across the six boroughs with over 13,600 trading businesses operating there. The data shows that the majority are small, independent businesses and 90% of them are young — less than five years old.
“When we looked at growth rates across the six boroughs, we can see growth ahead of where they were pre-pandemic, which is very positive news.
“The sector is in good health, it’s broad and diverse. The whole retrofit net zero drive is a big challenge and a big opportunity. In these six boroughs the market opportunity is very significant — to deliver the necessary retrofit improvements to existing buildings — the sector is going to have to grow substantially with more than 66,000 full-time equivalent jobs needed by 2030, but the opportunity is there to be unlocked.
“The work SLP and its partners are doing is critical and it is pioneering — we don’t see many other organisations doing this — and we are delighted to be working with them.”
Matthew Hamilton, Director of SLP commented: “The work IDM has done for us has been invaluable. As far as we’re aware, and following a conversation with the Greater London Authority, we think it’s the first time that anybody has attempted to map the supply chain in retrofit in this way. This means for the first time we know where the businesses are we need to talk to, and ensure they are aware of the need to invest in the skills and jobs they will need to meet market demand right here on their doorstep over the coming years.
“We can also use the knowledge the data has given us to engage more meaningfully with industry and education and training providers, to help ensure the right technical skills are being delivered.”
The research undertaken by IDM was funded by the Department for Energy Security and Net Zero via the Greater South East Net Zero Hub.
