Overview
South Gloucestershire presents a dynamic economic landscape with varied sectorial participation. The region employs 102,161 individuals, with a healthy mix of sectors led by professional, scientific, technical activities, and construction. The region has seen a significant rise in employment, indicating robust economic health. However, it’s notable that there were no initial public offerings (IPOs) recorded, which could reflect a trend towards private investments or business consolidations.
Employment and Business Growth
- Total Employees: 102,161. The region has experienced a 7.61% growth in employment, indicative of a healthy business climate and job market expansion.
- Employment Raisers: 865 companies have contributed to this employment growth, underscoring the active business environment in the region.
- Sectors with Most Companies: Leading sectors include Professional, Scientific, and Technical Activities (15.26% of companies), Construction (15.12%), and Wholesale/Retail Trade (10.42%). This diversity suggests a balanced economic structure.
- Sectors with Rising Companies: Notably, sectors like Other Hardware, Business and Professional Services, and Analytics are emerging, hinting at a diversification of the local economy.
Sector Dynamics
- Top Sectors: The dominant sectors such as Professional Services and Construction mirror national trends, reflecting the region’s alignment with broader economic patterns.
- Emerging Sectors: The rise in sectors like Analytics and Server Software indicates a pivot towards technology-oriented businesses, which could shape future economic directions.
Business Continuity
- Company Cessations: There were 1,433 company cessations, which must be contextualised against the total number of companies (16,051) and new companies (2,018 in two years). This turnover reflects a dynamic market where new businesses are continuously emerging.
- Company Scale-ups: The presence of 120 scale-ups demonstrates the region’s capacity to support business growth beyond the start-up phase.
Gender Representation
- Founders’ Gender: 18.64% female founders versus 80.91% male founders. This gender gap highlights an area for potential policy intervention to encourage more female entrepreneurship.
- Directors’ Gender: A slightly better gender balance is seen among directors, with 26.83% female and 68.68% male.
Business Age and Innovation
- Young Companies with Young Directors: 646 companies, indicating a vibrant start-up culture.
- Patent Owners and Grantees: The presence of 1,209 patent owners and 30 grantees suggests a strong innovation ecosystem.
Conclusion
South Gloucestershire’s economic landscape is marked by a robust employment market, diverse sector participation, and a promising tilt towards emerging technology sectors. The gender gap in entrepreneurship and leadership positions indicates room for inclusive growth. The strong innovation indicators, such as patent ownership, point to a region with a forward-looking business environment.