Overview
Winchester’s economic landscape exhibits a dynamic mix of sectors with a significant presence in professional, scientific, technical, and retail trade activities. The city has seen notable business growth, albeit with a stagnant IPO market. Employment trends are positive, with an increase in total employees and a notable proportion of companies reporting employee growth.
Employment and Business Growth
- Total Employees: 175,736. The city shows a healthy employment rate with a diverse range of sectors contributing to job creation.
- Employee Growth: A 10.27% growth in employment signifies a thriving job market. This growth is supported by 113 companies reporting an increase in their workforce.
Sector Analysis
- Top Sectors: The leading sectors include professional, scientific, and technical activities (18.42% of companies), retail trade (17.57%), and information and communication (10.5%). This diversity suggests a balanced economic structure with strengths in both traditional and modern industries.
- Sectors Showing Most Growth: Sectors like Internet platforms and e-commerce are among the fastest-growing, indicating a shift towards digitalisation and the expanding role of technology in the city’s economy.
Business Continuity
- Company Cessations: With 1,283 companies ceasing operations, there is a need to analyse factors affecting business sustainability in Winchester.
Entrepreneurship and Innovation
- New Companies: 2,340 new companies in the last two years, and 1,242 newly established, reflecting a vibrant entrepreneurial ecosystem.
- Scaleups: 75 scaleups indicate a promising environment for business expansion.
- Patent Owners and Fundraisings: With 223 patent owners and 17 fundraisings, the city demonstrates a focus on innovation and investment in new ideas.
Diversity and Leadership
- Founders Gender: 17.18% female founders and 80.98% male founders, suggesting a gender gap in entrepreneurship.
- Directors Gender: A higher proportion of female directors (27.22%) compared to founders, yet still a gender disparity in leadership positions.
Company Age and Spinouts
- Young Companies with Young Directors: 312 companies with young directors show a trend towards youthful leadership.
- Spinouts: No significant activity in spinouts, indicating potential areas for growth in academic or corporate spin-offs.
Conclusion
Winchester presents a robust economic environment with strong growth in employment and business diversity. The city’s tilt towards technology and digital sectors suggests a modernising economy. However, challenges in business continuity and a gender gap in entrepreneurship and leadership highlight areas needing attention. The absence of IPOs and spinouts suggests potential untapped areas in capital markets and innovation transfer.