Watford scores 957 on the UK Local Growth Index, placing it 262nd of 361 local authorities and 43 points below the UK benchmark. It ranks 9th of 10 authorities in Hertfordshire, sitting 27 points below the county score and 34 points below the East of England regional score. Scaling is its strongest pillar, coming closest to the UK benchmark, while ESG is the weakest.
Each score is averaged across a local authority's companies rather than summed, which means a place with fewer but more active businesses can score just as highly as a larger economy. That averaging makes the index a fair comparison between authorities of very different sizes.
The UK as a whole scores 1,000 by design, so Watford's composite of 957 sits below the national benchmark. The likely range of 946 to 968 shows how much the score could move with a slightly different mix of companies; because that range is narrow enough to rely on, the score is published.
East of England
Each dot shows the pillar score on a scale where the UK as a whole scores 1,000, marked by the line. The paler band is the likely range. The composite weights Innovation, Scaling and Investment 30% each and ESG 10%.
How Watford's composite score of 957 is built up, pillar by pillar.
Innovation
963
Average nationally
800UK 1,0001,700+
−37 points against the UK · Likely range 948–978 · 30% of the composite
Innovation covers patents, academic spinouts, R&D grant value, innovative sector tags and IS-8 sector tags. Watford ranks 209th of 361 authorities on this pillar, scoring 963, which is 37 points below the UK benchmark, and outperforms 42.1% of authorities.
Tagged with any industry or buzzword on a curated list of innovative sectors, for example chips, biotechnology, quantum, AI, data, SaaS, FinTech and CleanTech. About 2.5% of companies.
Tagged with any of the eight IS-8 sectors: advanced manufacturing, clean energy, creative industries, digital and technologies, financial services, life sciences, professional and business services, and defence. About 18% of companies.
We publish a score for each pillar, not for the measures inside it. The percentage beside each measure is how much it counts towards the pillar score. Select the lock to see the companies behind a measure on the Beauhurst platform.
Scaling
991
Average nationally
800UK 1,0001,700+
−9 points against the UK · Likely range 970–1,012 · 30% of the composite
Scaling measures scaleups, headcount growth and accelerator participation. At 991, Watford's Scaling score is only 9 points below the UK benchmark, making it the authority's strongest pillar and placing it 204th of 360 authorities. It is the area where Watford comes closest to matching the national average.
Annualised three-year employee growth rate over the latest four years of accounts, including group accounts, for companies with five or more employees at the start (capped). All other companies count as zero.
We publish a score for each pillar, not for the measures inside it. The percentage beside each measure is how much it counts towards the pillar score. Select the lock to see the companies behind a measure on the Beauhurst platform.
Investment
921
Below average nationally
800UK 1,0001,700+
−79 points against the UK · Likely range 899–943 · 30% of the composite
Investment captures whether companies have raised equity in the last five years, the value of that equity and whether a raise was a company's first ever. Watford scores 921 here, 79 points below the UK benchmark, and ranks 281st of 360 authorities, outperforming just 21.9% of peers. Equity activity among local companies is noticeably below the national level.
Whether the company's first equity deal ever was in the last five years. A first-time raiser always counts as an equity raiser too.
We publish a score for each pillar, not for the measures inside it. The percentage beside each measure is how much it counts towards the pillar score. Select the lock to see the companies behind a measure on the Beauhurst platform.
ESG
946
Well below average nationally
800UK 1,0001,700+
−54 points against the UK · Likely range 931–961 · 10% of the composite
The ESG pillar reflects clean energy activity, other green activity, environmental accolades, social and governance signals, and not-for-profit proxy status. Watford scores 946 on ESG, 54 points below the UK benchmark, and ranks 338th of 361 authorities, outperforming only 6.4% of all authorities. This is the area of greatest relative weakness in Watford's profile.
Is limited by guarantee without share capital, a rough indicator of non-profit status.
We publish a score for each pillar, not for the measures inside it. The percentage beside each measure is how much it counts towards the pillar score. Select the lock to see the companies behind a measure on the Beauhurst platform.
Compared to Hertfordshire
The chart below compares Watford's composite score with neighbouring authorities in Hertfordshire, including the county's second-ranked authority, Stevenage, which scores 1,030.
Watford scores 957 on the UK Local Growth Index, placing it 262nd of 361 local authorities and 43 points below the UK benchmark of 1,000.
How does Watford compare with the rest of Hertfordshire?
Watford ranks 9th of 10 authorities in Hertfordshire, sitting 27 points below the county score of 984. Stevenage is the county's second-ranked authority with a score of 1,030.
Which pillar is Watford strongest on?
Scaling is Watford's strongest pillar, with a score of 991 that is only 9 points below the UK benchmark. It ranks 204th of 360 authorities on this measure.
Where does Watford score lowest?
ESG is Watford's weakest pillar, with a score of 946 and a rank of 338th of 361 authorities. It outperforms just 6.4% of all authorities on this measure.
How many companies are counted in Watford's score?
The index covers 10,706 active companies in Watford, with corporate groups counted once rather than as each of their individual registered entities.
What does the UK Local Growth Index actually measure?
The index measures the characteristics of a local authority's business economy across four pillars: Innovation, Scaling, Investment and ESG. It is not a measure of economic output or GDP; it reflects how active local companies are across those dimensions.
Explore the data behind the index
Every score on this page is built from real, named company activity, patent filings, fundraisings, spinouts and scaleups. Book a call to see the data behind any authority's score, and how Beauhurst can support your work.
