Overview
Fareham exhibits a dynamic and diverse economic landscape, highlighted by significant activity in various sectors. With a total employee count of 34,985 and 458 businesses reporting growth in employee numbers, the region shows healthy employment dynamics. A noteworthy element is the spread of industries, with the top sectors ranging from professional and technical activities to construction, and trade. Despite no recent IPOs, the 7.84% employee growth and the presence of 53 scaleups indicate robust business development. The data also reveals a gender imbalance in both founding and directorial positions, leaning heavily towards male dominance.
Employment and Business Growth
- Total Employees: 34,985. Fareham’s employment scene is solid, with a diverse range of sectors contributing to the workforce. Notably, there has been a 7.84% growth in employment, underscoring a positive economic trend.
- Employment Raisers: 458 companies have increased their workforce, signaling robust business expansion and a healthy job market.
Sector Dynamics
- Top Sectors by Number of Companies: Professional, scientific and technical activities lead with 1,180 companies, followed by construction (1,069), and trade (754). This diversity reflects a well-rounded economic base.
- Sectors with Rising Company Numbers: Security services and design services are among the sectors with increasing company numbers, although the absolute figures are small, indicating niche growth areas.
Business Continuity
- Company Cessations: With 719 companies ceasing operations, there is a noticeable business attrition, which could be a point of concern for the local economy.
Business Formation and Growth
- New Companies (2 Years): Fareham saw 821 new companies in the last two years, indicating a vibrant entrepreneurial spirit.
- Scaleups: 53 scaleups demonstrate significant business growth potential in the region.
Gender Dynamics in Leadership
- Founders: 14.02% female founders compared to 85.98% male founders, showing a gender disparity.
- Directors: 27.43% female to 69.21% male directors ratio, suggesting similar gender imbalances in leadership roles.
Conclusion
Fareham’s economic landscape is characterised by a healthy mix of various industries, significant employment growth, and a vibrant new business scene. However, the high number of company cessations and gender imbalances in leadership positions present areas for potential improvement. Overall, the region shows promising signs of economic vitality, with diverse sector participation and a robust entrepreneurial environment.