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The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in Waverley

Overview

Waverley’s economic landscape demonstrates a robust mix of professional, scientific, and technical activities, alongside significant contributions from the information and communication sectors. The area shows a healthy mix of employment opportunities, with a notable increase in employees in recent years. The diversity in sectors and continuous growth in certain areas like SaaS and CleanTech suggest a dynamic and evolving business environment.

Employment and Business Growth

  • Total Employees: Waverley boasts 41,403 employees, with 149 businesses reporting an increase in employee numbers. This suggests a positive employment trend and indicates economic growth in the region.
  • Employee Growth: The 10.52% employee growth rate is a strong indicator of economic vitality, reflecting expanding businesses and possibly new entrants in the market.
  • Top Sectors for Growth: The sectors experiencing the most growth include Software-as-a-Service (SaaS), CleanTech, and Analytics, which are crucial for a technologically advancing economy.

Sector Dynamics

  • Top Sectors by Company Numbers: Leading sectors include professional, scientific, and technical activities (21.82%), information and communication (11.41%), and administrative support (10.23%). This diverse sector representation underpins a balanced and resilient local economy.
  • Emerging Sectors: Sectors like SaaS, CleanTech, and Analytics highlight the region’s adaptation to new technological trends, potentially driving future economic sustainability.
  • New Companies: There have been 1,053 new companies in the past two years, indicating a fertile environment for startups and entrepreneurship.
  • Small and Medium Enterprises (SMEs): With 9,613 SMEs, the area is heavily reliant on smaller businesses, which are key to economic resilience and innovation.
  • Exporters and Foreign Parent Companies: The presence of 260 exporters and 236 companies with foreign parentage reflects Waverley’s integration into the global market.

Business Continuity

  • Company Cessations: The data indicates 959 companies ceased operations, a figure that should be evaluated in the context of new company formations and overall company health in the region.

Board and Founder Diversity

  • Founder Gender: 19.87% of founders are female, 78.15% male, with a small percentage unknown. This shows a gender gap in entrepreneurship that may need addressing.
  • Director Gender: Female directors constitute 29.79%, and male directors 66.57%. This suggests some progress in gender diversity at the leadership level, but there’s room for improvement.
  • Age Distribution of Directors: A significant portion of directors are over 50 years old (62.3%), which might impact the adoption of new business practices and technologies.

Conclusion

Waverley’s economic and business activity is marked by a strong presence in professional, scientific, and technical sectors, alongside a burgeoning tech industry. While employment and business growth are positive, the gender gap in entrepreneurship and the age distribution of company directors suggest areas for future development. The local council could focus on fostering more diverse and inclusive entrepreneurship programs and consider strategies to leverage the experience of older directors while integrating younger perspectives.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.