Overview
Dorset’s economic landscape is characterised by a strong presence in sectors such as wholesale and retail trade, professional services, and information and communication, among others. With 132,363 employees and a notable 14.76% growth in employment, the region shows robust economic health. The diversity in sectors, from manufacturing to real estate, indicates a multifaceted economy. The presence of 104 scaleups and the growth in certain sectors like food and drink processing and internet platforms signal a dynamic business environment. However, the absence of IPOs suggests a need for enhanced capital market activity.
Employment and Business Growth
- Total Employees: Dorset employs 132,363 individuals, with a significant growth of 14.76% in employment. This growth is indicative of a healthy job market and expanding business activity.
- Top Sectors by Employment Growth: The sectors contributing most to employment growth are food and drink processors, internet platforms, and software-as-a-service (SaaS). This reflects a trend towards digitalisation and a focus on quality in the food industry.
- Scaleups: The presence of 104 scaleups demonstrates a vibrant startup ecosystem and potential for future economic expansion.
Sector Dynamics
- Leading Sectors: The leading sectors in Dorset are wholesale and retail trade (16.85%), professional services (15.45%), and information and communication (11.49%). This diverse sectoral composition underpins the region’s economic resilience.
- Emerging Sectors: Sectors like food and drink processing and internet platforms are gaining momentum, indicating shifts in consumer preferences and technological advancements.
Business Continuity
- Company Cessations: A total of 2,764 companies ceased operations, representing a challenge to business continuity and highlighting the need for supportive measures for business sustainability.
Corporate Leadership and Diversity
- Gender Representation in Founders and Directors: Founders are predominantly male (78.69%), with female founders at 19.13%. In directorship, male directors dominate (66.31%), with female directors at 29.45%. This indicates a gender gap in leadership roles.
Conclusion
Dorset’s economy is marked by healthy employment growth, a diverse sectoral mix, and an emerging focus on technology and quality-driven sectors. Challenges include the absence of IPOs and a gender gap in corporate leadership. Overall, the region shows strong potential for future economic development, with a need for strategies to enhance capital market activity and gender diversity in leadership.