Overview
The economic landscape of New Forest reveals a diverse array of sectors with a strong presence in professional, scientific, technical, and construction activities. The council has experienced notable business growth, with a particular emphasis on small and medium enterprises (SMEs) and a burgeoning entrepreneurial environment. However, challenges persist in gender diversity among founders and directors, and there are areas of concern in business continuity.
Employment and Business Growth
- Total Employees: New Forest employs 95,761 individuals. Notably, there has been a 7.9% growth in employment, signifying a robust job market. The presence of 78 scaleups indicates a dynamic environment where businesses are successfully expanding.
- Top Sectors: The leading sectors include professional, scientific, and technical activities (15.31%), activities of households as employers (15.11%), and construction (10.81%). This diversity suggests a balanced economic structure.
- Top Sectors Showing Growth: Sectors such as E-commerce and Internet platforms are emerging, indicating a shift towards a more digital economy.
Business Dynamics
- New Companies: In the past two years, 2,029 new companies have been established, contributing to a total of 13,146 companies in the region. This influx indicates a vibrant entrepreneurial spirit.
- SMEs and Exporters: There are 10,712 SMEs, with 338 exporters, suggesting a strong local business base with international reach.
- Foreign Parent Companies: The presence of 371 companies with foreign parentage indicates global investment interest.
Business Continuity
- Company Cessations: There are 1,028 companies that have ceased operations. This figure requires attention for improving business sustainability.
Diversity and Innovation
- Gender Diversity in Leadership: Female founders represent 22.86% and female directors 29.31%. While these numbers show female participation, there is room for improvement in gender diversity.
- Innovation Indicators: The region has 332 patent owners and 4 grantees, showcasing a focus on innovation and intellectual property.
Conclusion
New Forest demonstrates a dynamic and diverse economic landscape with strong growth in employment and business development. The region shows potential in digital and innovative sectors, although there are challenges in gender diversity and business sustainability. Continued focus on fostering a diverse, innovative, and resilient business environment will be key to its future economic health.