Overview
Southend-on-Sea presents a dynamic economic landscape characterised by a robust construction sector, significant activities in professional, scientific, and technical services, and a notable presence in wholesale and retail trade. With a total workforce of 68,435 employees, the region has experienced a diverse sectoral growth, particularly in marketing services, business banking, and e-commerce. The city’s vibrant business environment is further underscored by its healthy number of scaleups, SMEs, and companies with foreign parentage.
Employment and Business Growth
- Total Employees: Southend-on-Sea employs 68,435 individuals. The region has seen a positive trend with 23 raisers in employment numbers.
- Employee Growth: The percentage growth in employees is 6.76%, reflecting a healthy increase in job opportunities.
- Scaleups: The presence of 52 scaleups indicates a promising environment for business growth and expansion.
- Top Sectors with Rising Number of Companies: Marketing services, business banking, financial services, e-commerce, and other retail sectors are emerging as key areas of growth.
Sector Dynamics
- Dominant Sectors: Construction (14.58%), Professional/Scientific/Technical Activities (12.78%), and Wholesale/Retail Trade (10.68%) are the dominant sectors.
- Emerging Sectors: Sectors like Marketing Services and E-commerce are gaining momentum, indicating a shift towards service-oriented and digital businesses.
Company Trends
- Total Companies: There are 19,432 registered companies in the region.
- New Companies in Last 2 Years: 4,428 new companies have been established in the last two years, suggesting a robust entrepreneurial climate.
- SMEs: Small and Medium Enterprises (SMEs) form a significant part of the business landscape with 15,282 entities.
- Exporters and Foreign Parent Companies: The presence of 253 exporters and 108 companies with foreign parentage highlights the city’s global business engagement.
Innovation and Investment
- Fundraisings and Patents: There have been 141 fundraisings and 6 patent owners, indicating a focus on innovation and growth.
- Spinouts and Attendance: The absence of spinouts, coupled with 2 attendance records, points to potential areas for development in academic-industry collaboration and networking.
Diversity in Leadership
- Founders’ Gender: 18.18% of founders are female, while 80% are male.
- Directors’ Gender: Female directors constitute 27.13%, and male directors 69.53%.
- Age Distribution of Directors: A diverse age range among directors, with the majority falling between 40 and 60 years.
Conclusion
Southend-on-Sea’s economic landscape shows a strong construction sector, growing service-oriented and digital businesses, and a robust entrepreneurial environment. While employment and business growth are on the rise, the city exhibits a notable gender disparity in business leadership. The council’s focus might be directed towards fostering innovation, enhancing academic-industry collaboration, and improving diversity in leadership roles.