Overview
Gravesham’s economic landscape showcases diversity and growth, particularly in the construction, wholesale and retail trade, and support service activities. With a total of 28,203 employees and a noticeable 13.09% employee growth, the area is experiencing significant economic development. However, it’s important to note the absence of IPOs and a moderate number of scaleups (17), suggesting an emerging yet maturing business environment.
Employment and Business Growth
- Total Employees: Gravesham has 28,203 employees, with a growth rate of 13.09%. This indicates a healthy job market, potentially driven by the top sectors in the region.
- Employee Growth Rate: The 13.09% growth rate in employment is notable, suggesting robust economic activity and job creation.
- Top Sectors by Number of Companies: Construction (1,583 companies), Wholesale/Retail Trade (964 companies), and Administrative Support (863 companies) are the leading sectors. This diversity reflects a balanced economic base.
- Scaleups: With 17 scaleups, Gravesham shows potential for future economic expansion, though this number could be higher to indicate a more dynamic growth environment.
Business Continuity
- Company Cessations: There’s no data provided on company cessations. This metric is critical for understanding business continuity and the overall health of the business environment.
- Number of Companies: Gravesham has a total of 8,350 companies, indicating a rich business ecosystem.
- New Companies (Last 2 Years): There are 2,423 new companies in the last two years, and 1,382 new companies in total, signifying a positive trend in business formation.
- SMEs and Exporters: With 6,314 SMEs and 78 exporters, the region demonstrates a strong presence of small and medium-sized enterprises, essential for economic resilience.
Gender Diversity in Leadership
- Founders Gender: 20% female founders and 80% male founders. This shows a gender gap in entrepreneurial initiatives.
- Directors Gender: 26.33% female directors and 69.48% male directors, indicating a need for improved gender balance in leadership positions.
Conclusion
Gravesham’s economic health is characterised by a strong and diverse business ecosystem, significant employment growth, and a considerable number of SMEs. However, areas for improvement include increasing the number of scaleups, enhancing gender diversity in leadership roles, and addressing the absence of IPOs. This balanced growth, if sustained, positions Gravesham for continued economic prosperity.