Overview
Cheltenham’s economic landscape is marked by a diverse array of sectors with a notable presence in professional, scientific, and technical activities. The town has a robust employment base of 79,385 individuals, with significant growth in several key sectors. However, it faces challenges in areas like business continuity, as indicated by the number of company cessations.
Employment and Business Growth
- Total Employees: Cheltenham employs 79,385 individuals. The town experienced an employee growth rate of 8.767%, indicating a healthy expansion in its job market.
- Total Employee Raisers: 165 companies have contributed to this growth, which shows a dynamic business environment fostering employment.
- Sector Dynamics: The dominant sectors include professional, scientific, and technical activities (17.42%), information and communication (11.06%), and real estate activities (10.32%). These sectors are pivotal in driving the town’s economic engine.
- Top Sectors Showing Growth: Sectors like Software-as-a-Service (SaaS), other business and professional services, and mobile apps are rapidly growing, reflecting an evolving digital landscape.
Business Continuity
- Company Cessations: With 1,098 companies ceasing operations, there’s a need to analyse the factors impacting business sustainability in Cheltenham.
- New Companies in Last 2 Years: 2,078 new companies have emerged in the last two years, signifying a vibrant startup ecosystem.
- Scaleups: The presence of 33 scaleups indicates an environment conducive to business growth and expansion.
Entrepreneurial and Innovation Ecosystem
- Startups and SMEs: There are 7,453 SMEs, forming the backbone of Cheltenham’s economy. This is complemented by 1,140 new companies, showing a strong entrepreneurial spirit.
- Innovation Indicators: Cheltenham hosts 468 patent owners and 3 grantees, underscoring its innovative capabilities.
- Export and International Business: With 184 exporters and 274 companies having a foreign parent, the town is integrated into the global economy.
Leadership and Diversity
- Gender Representation in Founders and Directors: Founders are 15.96% female and 79.79% male, while directors are 27.75% female and 67.61% male. This highlights a gender gap, especially in founding roles.
- Age Distribution of Directors: A significant proportion of directors are aged 50-60 (30.22%) and over 60 (28.42%), indicating experienced leadership, with a smaller representation of younger directors (3.23% in the 20-30 age group).
Conclusion
Cheltenham’s economy is characterised by a diverse sectoral presence, a growing employment market, and a vibrant startup ecosystem. Challenges include business continuity and gender diversity in leadership. The town’s integration into the global market and its innovation indicators point towards a resilient and evolving economic landscape.