Overview
West Oxfordshire’s economic landscape shows a dynamic mix of sectors, led by professional, scientific, and technical activities. Notable growth in employment and a diverse range of companies, including several scale-ups, indicate a robust business environment. The data reveals significant participation of female founders and directors, though a majority are still male. The region has not witnessed any IPOs recently, but there’s active participation in other forms of business development, like fundraisings and patent ownership.
Employment and Business Growth
- Total Employees: 43,368 – The number of employees in West Oxfordshire suggests a substantial workforce. The 9.70% growth in employment is indicative of a positive economic trend.
- Employee Growth Drivers: 108 companies have contributed to this employment growth, showing active business expansion in the region.
- Top Sectors by Number of Companies: The leading sector is ‘Professional, scientific and technical activities’ with 1,601 companies (18.46%), followed by ‘Construction’ and ‘Wholesale and retail trade’ sectors. This diverse sector presence supports economic resilience.
- Top Sectors Showing Growth: Notable growth is seen in ‘Food and drink processors’, ‘Healthcare products’, and ‘Other business and professional services’, each adding 3 companies, suggesting emerging sectors gaining momentum.
Business Continuity
- Company Cessations: 877 companies ceased operations, which is a critical aspect to monitor for understanding business sustainability in the region.
- Scaleups: With 44 scaleups, the region demonstrates a conducive environment for business growth and expansion.
- New Companies (2 years): 901 companies were established in the last two years, showing a vibrant start-up scene.
- Small and Medium Enterprises (SMEs): A significant number of SMEs (6,862) form the backbone of the local economy, underpinning its diversity and resilience.
- Exporters: The presence of 259 exporters indicates a degree of international business engagement.
- Companies with Foreign Parentage: 125 companies have foreign parentage, showing global interest in the region.
- Fundraising Activities: The occurrence of 525 fundraisings is a strong indicator of active investment and financial activity in the business community.
- Patent Owners: With 3 patent owners, there’s evidence of innovation and intellectual property development.
Gender Diversity in Leadership
- Founders: 22.31% female founders compared to 76.03% male founders show a gender gap, but also a significant female entrepreneurial presence.
- Directors: The directorial roles have 28.85% females, indicating better gender diversity at leadership levels.
Conclusion
West Oxfordshire presents a thriving and diverse economic landscape with a healthy mix of sectors. Strong employment growth, a significant number of scale-ups, and a vibrant start-up scene reflect the region’s economic vitality. While the number of company cessations and the gender gap in business leadership are areas of concern, the overall picture is one of a robust and evolving business environment.