Overview
The economic landscape of Havant is characterised by a diverse range of sectors, with Construction, Professional, Scientific and Technical Activities, and Real Estate being the most prominent. Despite the absence of new IPOs, the region shows a healthy 9.33% growth in employment. A noteworthy aspect is the gender distribution among founders and directors, indicating a higher prevalence of male leadership. The presence of scale-ups and a substantial number of new companies in the last two years highlight an environment conducive to business growth and innovation.
Employment and Business Growth
- Total Employees: Havant employs 33,625 individuals. The region has experienced a significant 9.33% growth in employment, indicating a robust economic environment conducive to job creation.
- Employment Raisers: There are 68 companies that have contributed to this employment growth, showcasing the dynamic nature of the local business ecosystem.
Sector Dynamics
- Top Sectors: Construction (17.03%), Professional/Scientific/Technical Activities (16.27%), and Real Estate (10%) dominate the local industry landscape, indicating a balanced mix of traditional and knowledge-based sectors.
- Top Sectors with Growth: Sectors like Mobile Apps and Other Business/Professional Services have seen new company growth, reflecting an adaptation to modern business trends and technological advancements.
Business Continuity
- Company Cessations: Havant reported a total of 10200 company cessations, which, against the backdrop of 8633 existing companies, suggests a challenging environment for business sustainability.
Innovation and Entrepreneurship
- New Companies: In the past two years, 1787 new companies have emerged, highlighting an encouraging entrepreneurial spirit in the region.
- Scaleups: The presence of 23 scale-ups is a positive indicator of business maturity and potential for further economic contribution.
Gender Representation in Leadership
- Founders: 23.53% of founders are female, while 76.47% are male, indicating a gender gap in entrepreneurial leadership.
- Directors: Female representation among directors stands at 27.32%, with male directors constituting 68.34%.
Conclusion
Havant’s economic landscape demonstrates a healthy mix of traditional and emerging sectors, coupled with a significant growth in employment. The region shows potential for innovation, as seen in the number of new companies and scale-ups, but faces challenges in business sustainability. Efforts to bridge the gender gap in leadership could further enhance the inclusivity and dynamism of Havant’s business environment.