Overview
East Hampshire presents a diverse and dynamic economic landscape. The region boasts a total of 32,530 employees, with significant growth in sectors like professional, scientific, technical activities, retail trade, construction, and information communication. The area shows a robust entrepreneurial spirit, evidenced by the presence of 10,171 companies, including 1,374 new companies in the past two years. This growth is further highlighted by the presence of 63 scale-ups, indicating a thriving environment for business expansion.
Employment and Business Growth
- Total Employees: East Hampshire employs 32,530 individuals. The region has experienced a substantial growth in employment, with 71 companies reporting an increase in their employee count.
- Percentage Employee Growth: The employee growth rate stands at 9.05%, reflecting a healthy job market and opportunities for workforce expansion.
- Top Sectors for Employment: The leading sectors in employment are professional, scientific and technical activities (19.38%), wholesale and retail trade (11.77%), construction (10.88%), and information and communication (10.67%). These sectors are pivotal in driving the region’s economic vitality.
- Top Sectors with Rising Employment: Sectors showing a notable rise in employment include internet platforms, analytics, toys/games/sports equipment, health/fitness, and technology/IP-based businesses.
Business Continuity
- Company Cessations: There were 978 company cessations, which is a significant figure but should be viewed in the context of the overall number of businesses and the dynamic nature of the market.
- New Companies: East Hampshire has seen the emergence of 1,374 new companies in the last two years, indicating a vibrant and growing entrepreneurial ecosystem.
Sector Dynamics
- Top Sectors by Number of Companies: Professional, scientific and technical activities lead with 1,971 companies, followed by wholesale/retail trade (1,197), construction (1,107), and information and communication (1,085). These sectors form the backbone of East Hampshire’s economy.
- Sectors with Most New Companies: The rise in new companies is particularly noticeable in sectors like internet platforms and analytics, showcasing a trend towards digital and data-driven businesses.
Company Trends
- Total Companies: There are 10,171 companies operating in East Hampshire, underlining the area’s diverse business landscape.
- Scaleups: The presence of 63 scaleups suggests that a significant number of companies are experiencing rapid growth, a positive indicator for the region’s economic health.
Conclusion
East Hampshire’s economy is characterised by robust growth in employment, a diverse sectoral composition, and a strong influx of new companies. The area’s ability to support scaleups and the significant number of new businesses point towards a dynamic and evolving economic landscape. The region’s focus on sectors like professional services, retail, construction, and technology bodes well for its future economic resilience and growth.