Overview
Surrey Heath, a region marked by dynamic business activities, exhibits a robust mix of sectors contributing to its economic vitality. The area employs 49,130 individuals, with an impressive increase in the number of employees across various sectors. Key industries include professional, scientific and technical activities, information and communication, and administrative and support service activities. This diverse sectoral presence underpins Surrey Heath’s economic resilience and growth potential.
Employment and Business Growth
- Total Employees: 49,130. Surrey Heath has experienced significant growth in employment, with 365 businesses reporting an increase in employee numbers. This positive trend indicates a thriving local economy and a robust job market.
- Employee Growth: The employee growth percentage stands at 5.99%, reflecting a healthy expansion in the local workforce. This growth is likely driven by the emergence of new businesses and the expansion of existing ones.
- Top Sectors with Rising Employment: Notable sectors showing an increase in employment include analytics, insight, tools, and software-as-a-service (SaaS), highlighting a tilt towards high-tech and service-oriented industries.
Sector Dynamics
- Leading Sectors: The region’s economy is anchored by diverse sectors. The top sectors by company count include professional, scientific and technical activities (1,593 companies), information and communication (848 companies), and administrative support (815 companies).
- Top Sectors Showing Growth: Emerging sectors with the highest number of new companies include analytics and SaaS, indicating a shift towards technology-driven services.
Business Continuity
- Company Cessations: Surrey Heath reported a relatively high number of company cessations (12,356), which might indicate market saturation or competitive pressures in certain sectors.
- New Companies in the Last 2 Years: The region saw 1,497 new companies in the last two years, suggesting a dynamic entrepreneurial environment.
- Total Companies: With 7,823 total companies, Surrey Heath has a diverse business ecosystem, supporting its economic stability and growth potential.
Diversity and Innovation
- Gender Representation in Leadership: Female founders represent 18.52% of the total, while male founders account for 79.63%. In directorial roles, women hold 27.86% of positions, with men holding 66.41%.
- Age Distribution of Directors: The age distribution of directors shows a skew towards more experienced individuals, with the highest percentage (30.26%) being over 60 years old.
- Innovation Indicators: The region boasts 270 patent owners and 1 grantee, reflecting an environment conducive to innovation and intellectual property development.
Conclusion
Surrey Heath’s economic landscape is characterised by a strong mix of traditional and emerging sectors, with significant growth in high-tech and service-oriented industries. Despite a high number of company cessations, the region’s vibrant start-up scene and substantial employment growth indicate a resilient and evolving economy. The diversity in leadership roles could be further improved, especially in terms of gender representation. Overall, Surrey Heath presents a dynamic and promising economic environment.