Overview
Mole Valley presents a dynamic economic landscape, characterised by robust professional and technical activities, construction, and a significant presence in administrative support. The city’s economic health is underscored by positive employee growth, a variety of active sectors, and a stable rate of new business formation. The data suggests a diversified economy with strengths in traditional sectors, yet a notable absence in technology-oriented industries.
Employment and Business Growth
- Total Employees: 64,946 employees with a 5.29% growth rate. This positive growth signifies a healthy job market, likely driven by key sectors like professional services and construction. The addition of 1,183 employees in top-raising sectors indicates targeted growth in specific industries.
- Top Sectors by Company Numbers: Professional, scientific, and technical activities lead with 1,967 companies (22.68%), followed by construction (868 companies, 10.01%) and administrative support (814 companies, 9.39%). These sectors form the backbone of Mole Valley’s economy, indicating a focus on skilled labor and service-oriented businesses.
- Top Sectors by Growth: Property/land management and distribution, each with 2 new companies, show emerging trends in real estate and logistics. This may reflect evolving market demands or local development initiatives.
Business Continuity
- Company Cessations: With 10,305 companies ceasing operations, there is a significant turnover in the business landscape. This could be indicative of a competitive market or shifts in industry demands. It’s crucial to analyse the reasons behind these cessations for more effective economic strategies.
- New Companies in 2 Years: The formation of 1,422 new companies over two years showcases a vibrant entrepreneurial environment. This indicates a healthy startup ecosystem, possibly fueled by local policies or market opportunities.
- SMEs and Exporters: The presence of 6,785 SMEs and 195 exporters highlights the role of small and medium-sized enterprises in the local economy. Their contribution to exports underlines the global reach of Mole Valley’s businesses.
- Foreign Parent Companies: 267 companies with foreign parentage suggest international investment and business integration, which can bring diverse expertise and global market access to the local economy.
Innovation and Diversity
- Patent Owners and Fundraisings: With 381 patent owners and 13 fundraisings, there is evidence of innovation, albeit limited. Increased focus on R&D and supporting innovation ecosystems may further enhance this aspect.
- Gender Diversity in Leadership: Female founders represent 14.71%, and female directors make up 29.32% of the total. While these figures show some level of diversity, there’s room for improvement in achieving gender parity, especially in leadership roles.
Conclusion
Mole Valley exhibits a solid economic foundation with diverse sectors driving growth and employment. The high rate of business cessations, however, points to a need for strategies to enhance business sustainability. Investing in innovation and fostering greater gender diversity in leadership could also contribute to the region’s economic resilience and inclusivity.