Overview
Tunbridge Wells showcases a diverse economic landscape with significant activity in professional, scientific, technical, information, communication, and retail sectors. The presence of scale-ups and new companies indicates a dynamic business environment. However, the absence of IPOs and a moderate employee growth rate suggest a need for further stimulation in certain areas.
Employment and Business Growth
- Total Employees: 51,027. Tunbridge Wells has seen a moderate growth in employment with a 4.92% increase. Despite the absence of IPOs, the presence of 46 scale-ups indicates potential for future employment expansion.
Sector Dynamics
- Top Sectors: Professional, scientific, and technical activities lead (19.24%), followed by information and communication (11.28%), and retail trade (10.09%). This diversity underscores a robust economic foundation.
- Sector Growth: Sectors showing notable growth include internet platforms, SaaS, distribution, analytics, and food and drink processing. These emerging sectors are pivotal for future economic diversification.
Business Continuity
- Company Cessations: A total of 913 companies ceased operations. This figure, juxtaposed with the creation of 1,950 new companies in two years, indicates a dynamic but challenging business environment.
- New Companies: With 1,950 new companies in the last two years, there’s a notable entrepreneurial spirit, supporting the local economy’s resilience and adaptability.
Diversity and Inclusion
- Gender Representation: The percentage of female founders is 14.29%, with male founders at 85.71%. Female directors represent 29.60% of the total, suggesting a need for greater gender balance in leadership roles.
Business Resilience
- Attendance at Business Events: 11 attendances at significant events, indicating an active participation in the broader business community.
Conclusion
Tunbridge Wells demonstrates a vibrant and varied business ecosystem, with strengths in several sectors, especially professional services and tech. The growth of scale-ups and new companies is promising, but efforts to increase IPOs, employee growth, and gender diversity in leadership could further enhance economic vitality.