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Buckinghamshire Economic Report 2024

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The 2024 Buckinghamshire Economy evidence base report has recently been published.  The report contains the latest analysis of the state of the Buckinghamshire economy. 

 

The report has four sections:

  • Economic performance
  • Business population
  • Business dynamism
  • Industry structure and specialisms.

 

It is essential reading for all those who wish to understand the current state of Buckinghamshire’s economy at a macro-level, and potential opportunities for future growth. 

 

Headlines from the report include:

  • As has been the case nationally, the Buckinghamshire economy has faltered in recent years.
  • Whilst the county’s economy is strong when compared with most other areas of England, it is not as strong as it once was, and tends to be out-performed by its neighbours and areas in the rest of the South East.
  • The latest data suggests some improvements in productivity growth over the last few years.
  • Buckinghamshire has a much larger business base (on a per head of population basis) than the national average.
  • Micro firms are more dominant in the Buckinghamshire economy that the national average, but large companies provide a significant number of jobs.
  • Buckinghamshire’s largest businesses (employing more than 250 people) are mainly located in the south of the county, in particular along the M4 corridor, in Aylesbury, in the north of the county (in the area which includes Silverstone Park), and in the area to the north of Thame.
  • Buckinghamshire has high business survival rates, and relatively low business birth and death rates. 
  • Business death rates in Buckinghamshire have been increasing post-Covid, as have been the case nationally.
  • Buckinghamshire has a relatively low proportion of high growth firms.  High growth firms play an important role in growing local economies. 
  • Buckinghamshire has comparatively small tradable and knowledge economy sectors, which are key drivers of economic growth.
  • The admin & support services and construction sectors have increased their contribution (in terms of jobs, firms and economic output) to the Buckinghamshire economy in recent years, whilst the relative contribution of the professional, scientific & technical and information & communication sectors has decreased.
  • Buckinghamshire’s strategic growth sectors and clusters as identified in 2019 are: TV & film; high performance engineering; space and MedTech.  They all retain significant potential for growth and productivity gains.
  • Buckinghamshire’s green economy specialisms include: low carbon transport, ‘reduce, repair, recycle’, diversion of waste from landfill, and power.   

 

To find out more, including how Buckinghamshire compares with neighbouring areas, click here to read the full report.

 

Publisher: Buckinghamshire Local Enterprise Partnership

Link: The Buckinghamshire Economy 2024