Overview
East Devon presents a diverse economic landscape, dominated by sectors like professional, scientific, and technical activities, construction, and retail trade. The region shows positive indicators in employment growth and business dynamism, although it faces challenges in areas such as gender diversity in leadership roles and new company formation.
Employment and Business Growth
- Total Employees: East Devon has a workforce of 33,887 employees, with a notable increase of 127 businesses reporting employee growth. This indicates a healthy job market and business expansion.
- Percentage Employee Growth: The employee growth percentage stands at 9.05%, signaling robust economic vitality and a growing workforce.
- Number of Scaleups: The presence of 35 scaleups (fast-growing companies) further underscores the region’s dynamic business environment.
Sector Analysis
- Top Sectors: The leading sectors include professional services, construction, retail trade, real estate, and support services, indicating a balanced mix of traditional and service-oriented industries.
- Sector Growth: Significant growth is observed in professional services, construction, and internet platforms, reflecting evolving market demands and technological integration.
Business Formation and Continuity
- New Companies: In the last two years, 807 new companies were established, contributing to the total of 8,146 companies in the region.
- Company Cessations: However, there were 608 company cessations, highlighting a competitive and challenging business environment.
- Small and Medium Enterprises (SMEs): With 6,516 SMEs, the local economy relies heavily on small-scale businesses.
Innovation and International Presence
- Patent Owners and Grantees: The presence of 278 patent owners and 7 grantees indicates a focus on innovation and intellectual property.
- Exporters and Foreign Parent Companies: The region has 193 exporters and 48 companies with foreign parentage, suggesting international business ties and export-oriented activities.
Gender and Age Diversity in Leadership
- Founders Gender: There is a gender imbalance among founders, with 11.84% female and 88.16% male.
- Directors Gender: A similar trend is seen in directors, with 30.66% female and 66.07% male.
- Age Distribution of Directors: The age distribution of directors skews older, with the largest group being over 60 years old (35.48%).
Conclusion
East Devon’s economic landscape is characterised by a growing workforce, diverse sector presence, and a strong base of SMEs. Challenges include improving gender diversity in leadership and fostering more robust business formation. The region shows promise in innovation and international business relations, indicating potential for future growth and development.