Overview
Wokingham, with a total employee count of 207,168, displays a robust and diverse economic landscape. The city has witnessed a significant rise in employment, with 388 companies reporting an increase in the number of employees. Key sectors contributing to this growth include professional, scientific, technical activities, and information and communication. However, there’s a notable absence of initial public offerings (IPOs), indicating a potential area for capital market development. The gender diversity in both founding and directorial roles shows progress yet highlights room for improvement, especially in the proportion of female founders.
Employment and Business Growth
- Total Employees: 207,168. Wokingham has experienced a healthy growth in employment, reflected by a 6.1% increase in employee growth and the emergence of 76 scale-ups. This growth is driven by a diverse array of sectors, indicating a resilient and dynamic local economy.
- Top Sectors with Employee Growth: The sectors that have seen the most significant growth are ‘Professional, scientific and technical activities’ and ‘Information and communication’, showcasing Wokingham’s strength in these advanced sectors.
Sector Dynamics
- Top Sectors: The dominant sectors in Wokingham are ‘Professional, scientific and technical activities’ (18.1%) and ‘Information and communication’ (18.06%). The presence of these high-skilled sectors indicates a strong knowledge-based economy.
- Emerging Sectors: Sectors like ‘Analytics, insight, tools’, and ‘Internet platform’ are emerging, suggesting a trend towards digitalisation and data-driven businesses.
Business Continuity
- Company Cessations: Wokingham has a total of 13,930 companies, with 1,554 new companies in the last two years. This indicates a healthy rate of new business formation. However, the city has seen 1,266 companies cease operations, suggesting a competitive and dynamic business environment.
- SMEs and Exporters: With 10,811 SMEs and 334 exporters, Wokingham’s economy is bolstered by small and medium-sized enterprises, contributing significantly to the local and global markets.
Diversity in Leadership
- Gender Diversity in Founders and Directors: 17.6% of founders are female, compared to 81.76% male. In directorial roles, 28.04% are female, and 66.69% are male. These figures show progress in gender diversity, but also highlight a gender gap, especially in founding roles.
Conclusion
Wokingham’s economy is characterised by a strong presence of high-skilled sectors, significant SME and exporter contributions, and a dynamic business environment with a healthy rate of new company formations. The area for improvement lies in increasing gender diversity in leadership roles and exploring avenues for public market financing.