Overview
Reigate and Banstead, a local council area, exhibits a dynamic economic landscape characterised by diverse sectors, consistent growth in employment, and an active business environment. The council has a robust presence in professional, scientific, technical, construction, and administrative sectors. With 75,160 total employees and a 9.25% employee growth rate, the region shows healthy economic indicators. However, it’s noteworthy that there have been no initial public offerings (IPOs), suggesting limited activity in the public markets sector.
Employment and Business Growth
- Total Employees: 75,160. The area has seen a significant number of employee raisers (403), indicating a positive trend in job creation and business expansion.
- Percentage Employee Growth: 9.25%. This growth rate is indicative of a healthy and expanding job market, likely driven by the diverse economic sectors in the area.
- Number of Scaleups: 46. This number reflects a strong entrepreneurial environment and the potential for future economic expansion.
Sector Dynamics
- Top Sectors: Professional, scientific, and technical activities (19.63%), Construction (12.61%), and Administrative and support service activities (10.16%) are the leading sectors, demonstrating a diversified economic base.
- Top Sectors with Company Raisers: Notable sectors with company raisers include Food and Drink Processors, Other Retail, Analytics, Consumer Electronics, and Information Services. These sectors represent emerging and dynamic areas of the local economy.
Business Continuity
- Number of Companies: 11,760. This reflects a robust business environment.
- New Companies in 2 Years: 2,392. There is a considerable number of new companies, indicating a vibrant startup ecosystem.
- Company Cessations: 1,060. While there are a significant number of cessations, this needs to be viewed in the context of the high number of new companies.
Demographics and Diversity
- Founders Gender: 20.9% female, 76.1% male, 3.0% unknown. This shows a gender gap in entrepreneurial activities.
- Directors Gender: 28.2% female, 67.8% male, 4.0% unknown. Similar to founders, a gender disparity exists in leadership roles.
- Age Distribution of Directors: The majority of directors are over 40 years old, with 29.1% over 60, highlighting experienced leadership in the business community.
Conclusion
Reigate and Banstead’s economic landscape is marked by a strong and diverse business sector, significant employment growth, and a vibrant startup ecosystem. However, the absence of IPOs and the gender disparity in business leadership are areas for potential focus. The council’s economic health appears robust, with room for growth in emerging sectors and demographic inclusivity.