Overview
Rochford, a dynamic business hub, exhibits a diverse economic landscape with significant activity in various sectors. With 23,243 employees across multiple industries, the region shows a promising mix of established and emerging sectors. The data indicates a balanced distribution of industries with a notable presence in construction, professional services, and retail trade. The absence of IPOs suggests a focus on private and small-medium enterprises (SMEs), while a 6.72% employee growth rate highlights a positive employment trend. Gender diversity in founding and director roles, though improving, remains an area for further growth.
Employment and Business Growth
- Total Employees: 23,243. The employee growth rate of 6.72% signifies a healthy employment environment, potentially driven by the rise of SMEs and scale-ups in the region.
- Top Sectors by Company Number: Construction (16.43%), Professional Services (14.29%), Retail Trade (11.37%). These sectors are pivotal in driving regional economic growth and employment.
- Top Sectors Showing Growth: Data indicates a balanced sector growth without specific sectors outperforming others significantly.
Business Continuity
- Company Cessations: The data lacks specific figures for company cessations, but the presence of 4,592 SMEs and a stable number of new companies (704 in 2 years) suggest a robust business continuity in the region.
- Number of Scaleups: 26. This indicates a moderate but significant level of entrepreneurial success and business expansion.
Gender and Age Distribution in Leadership
- Founders’ Gender: 14.29% female, 85.71% male. This shows a gender gap in entrepreneurship that warrants attention.
- Directors’ Gender: 26.24% female, 71.32% male. Similar to founders, a gender disparity exists, although slightly less pronounced.
- Age Distribution of Directors: The age distribution indicates a diverse range of experience levels, with the highest concentration in the 50-60 age bracket (27.68%).
Innovation and Internationalisation
- Number of Patent Owners: 1. This low number suggests limited activity in patent-driven innovation.
- Number of Exporters: 109. A moderate number of exporters, indicating some degree of international business engagement.
- Companies with Foreign Parentage: 66. This reflects Rochford’s attractiveness to foreign investment.
Company Dynamics
- Total Number of Companies: 5,831. This robust number indicates a thriving business environment.
- New Companies in Last Two Years: 704. A healthy rate of new business formation.
- Number of SMEs: 4,592. SMEs form the backbone of Rochford’s economy.
Conclusion
Rochford’s economy is characterised by a diverse mix of sectors, steady employment growth, and a healthy rate of new business formation. While the gender gap in leadership roles is notable, efforts towards gender diversity are evident. The region’s economic health is underpinned by a strong SME presence and a moderate level of internationalisation and innovation.