Overview
Eastleigh presents a dynamic economic landscape characterised by a substantial workforce and diverse business sectors. The total number of employees stands at 88,234, with a healthy spread across various industries. Notably, there has been significant growth in specific sectors, alongside a stable environment for company foundations and expansions. This report delves into detailed aspects of employment, business growth, and company dynamics in Eastleigh.
Employment and Business Growth
- Total Employees: 88,234. Eastleigh’s workforce is robust, contributing to the local economy’s vibrancy. A 7.9986% employee growth rate indicates an expanding job market, likely driven by the growth in various sectors.
- Employee Growth: The 40 companies reporting employee increases reflect a positive trend in job creation. This growth is pivotal for economic stability and prosperity.
- Top Sectors: The leading sectors by company count include Professional, Scientific, and Technical Activities (1,720 companies; 16.84%), Construction (1,429 companies; 13.99%), and Administrative Support Service Activities (1,083 companies; 10.61%). These sectors are pivotal in shaping Eastleigh’s economic profile.
- Sectors with Rising Companies: Notable growth is seen in business services, technology/IP-based businesses, analytics, recruitment agencies, and manufacturing/engineering. These emerging sectors are essential for diversifying and modernising the local economy.
Business Continuity
- Company Cessations: With 931 companies ceasing operations, there is a need to explore support mechanisms for business sustainability in Eastleigh. This number, however, must be contextualised within the total of 10,212 companies in the area.
- New Companies (2 years): 1,095 new companies established in the past two years indicate a robust entrepreneurial spirit and a conducive environment for new ventures.
- Scaleups: The presence of 57 scaleups suggests a healthy pipeline of growing businesses, crucial for long-term economic resilience.
Gender Diversity in Leadership
- Founders: Gender diversity among founders shows 8.86% female and 89.87% male, highlighting a significant gender gap in entrepreneurial leadership.
- Directors: In directorial roles, 26.78% are female and 69.03% are male, with a similar gender imbalance. Efforts to enhance female representation in leadership could be beneficial.
Conclusion
Eastleigh’s economic landscape is marked by a strong workforce, diverse business sectors, and a significant number of new and growing companies. While there are challenges in terms of company cessations and gender diversity in leadership, the overall picture is one of a vibrant and evolving economy. Efforts to support emerging sectors, enhance business sustainability, and improve gender diversity could further strengthen Eastleigh’s economic health.