The independent report, "Linked In: Realising Croydon’s Potential Now", shows that Croydon is no longer just "London’s back office".
It is both a well-connected residential location for London employees and an important business centre within the wider South East.
The report advises Croydon to:
* Strengthen its private sector economy by reducing barriers to growth in the two main employment centres (Purley Way and the town centre);
* Deliver a number of short-term and low cost improvements to enhance the public realm, safety and quality of office stock to make Croydon a more attractive place to do business and live.
Since the 1960s, Croydon has been home to many large private sector employers which relocated from inner London for more competitive rents and employment.
However, between 1998 and 2008, Croydon lost 10,500 private sector jobs while the number of public sector jobs increased by 14,000.
In common with elsewhere in the UK, the impact of public sector job cuts is due to take effect soon (Croydon is expected to lose up to 2000 public sector jobs). This report suggests ways for the council to work with its local business community to retain jobs and support jobs growth.
Alexandra Jones, Chief Executive of Centre for Cities said: "Our report shows how important it will be for Croydon to nurture and support its current private sector businesses. Some 90% of Croydon’s businesses are small to medium-sized organisations employing 50 people or less – these businesses are important for Croydon’s future. With public sector job cuts due to begin this year, Croydon should support its existing private sector businesses to enable them to grow."
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