Overview
South Oxfordshire exhibits a diverse economic landscape, with a strong presence in professional, scientific, technical, and information and communication sectors. The area has experienced notable growth in employment and business activities, reflecting a dynamic local economy. However, this growth is contrasted by a significant number of company cessations, indicating a challenging environment for business sustainability.
Employment and Business Growth
- Total Employees: South Oxfordshire employs 60,169 people. The region has seen a rise in employment, with a 7.43% employee growth, suggesting a robust job market.
- Employment Raisers: The area has witnessed 180 companies contributing to employment growth, indicating a healthy expansion in local businesses.
- Top Sectors: Key sectors include professional, scientific and technical activities (21.84%), information and communication (10.61%), and administrative and support service activities (10.4%). This diversity suggests a balanced economic structure.
- Sector Dynamics: Notable sector growth is observed in pharmaceuticals, food and drink processing, and other manufacturing, indicating a shift towards specialised industries.
Business Continuity
- Company Cessations: There are 9,178 companies that have ceased operations, indicating challenges in the business landscape. This may reflect market competition or economic shifts impacting business sustainability.
- New Companies: In the past two years, 1,964 new companies have emerged, suggesting a dynamic entrepreneurial environment.
- SMEs and Exporters: There are 8,885 small and medium-sized enterprises (SMEs) and 350 exporters, highlighting the importance of these businesses in the local economy.
- Foreign Parent Companies: With 295 foreign-parent companies, the region demonstrates significant international business involvement.
Diversity and Innovation
- Gender Diversity in Founders and Directors: Female founders represent 17.04%, and female directors constitute 29.89%, indicating room for improvement in gender diversity.
- Young Companies and Directors: A small proportion of companies (3.34%) have directors aged 20-30, reflecting a mix of youth and experience in company leadership.
- Innovation: South Oxfordshire has 378 patent owners and 20 grantees, suggesting a strong focus on innovation and intellectual property.
Conclusion
South Oxfordshire presents a mixed yet promising economic picture, characterised by strong sector diversity, employment growth, and innovation. However, challenges in business continuity and gender diversity in leadership positions require attention. This dynamic environment suggests both opportunities and areas for strategic improvement.