22 focus on bournemouth & poole
Bournemouth makes UK top 20 for high growth
Financial adviser Grant Thornton UK LLP has named Bournemouth as one of the highest growth areas in the UK in its independent report ’Where Growth Happens: The High Growth Index’
Grant Thornton’s High Growth Index identifies the places that have experienced the fastest growth over the past eight years.
the economic growth indices (in terms of business and employment) and people growth indices (in terms of population and working population). Both of these factors are weighted equally to create a composite index that identifies places in the UK that have grown fastest.
Bournemouth is the only place in Dorset, and neighbouring Hampshire, to feature in the top-20 list of high-growth areas, beating some of the country’s largest cities including Newcastle upon Tyne, Liverpool, Sheffield and Leeds.
Councillor John Beesley, leader of Bournemouth Borough Council, said: “We are delighted that Bournemouth has been recognised as being one of the UK’s top places with growth potential. Our success has been down to commitment, vision and strong leadership in both the public and private sectors.
“The growth ambitions of Bournemouth’s established financial and professional services as well as our highly-concentrated and rapidly-expanding digital and creative industries sector have been supported by significant and effective public sector investment in the town’s infrastructure. This has resulted in us having rich and fertile economic conditions that support local businesses, help them to create jobs and make them thrive.“
Stephen Mills (pictured), office managing partner at Grant Thornton in Southampton and honorary treasurer of Dorset Chamber of Commerce and Industry, oversees work for the firm’s Bournemouth clients. He said: “What this research has allowed us to do is identify the characteristics of high-growth areas and looking at these traits it’s easy to see why Bournemouth has made the list.
“High-growth areas understand local specialism and niches – no matter how small – and make the most of them, support them and build on them.
“In the case of Bournemouth it has maximised on its leisure and tourism economy, with the construction of Terrance Mount acting as the latest evidence that the town refuses to sit on its laurels when it comes to tourism infrastructure.
www.businessmag.co.uk It combines
age population is crucial for sustaining economic growth.
Mills said: “Highlighting past areas of growth may not necessarily be an indicator of future growth or sustainability so it’s encouraging to see that Bournemouth has also ranked as an area of dynamic growth.
“What’s exciting from this research is that we can assess the characteristics and features of key dynamic growth areas and use them to drive value and growth in other towns and cities in Dorset in the future.“
Many of the contributing factors behind Bournemouth’s economic success, and the opportunities this presents to local mid- sized businesses, were recently discussed at Grant Thornton’s Growth Insights Breakfast Club, held at AFC Bournemouth, last month.
Senior business leaders attended, from companies such as Goadsby, Merlin Entertainments Group, Hospital Metalcraft and Poole Harbour Commissioners, to discuss the current economic climate and the future state of play.
Mills added: “The breakfast event was a great opportunity for local leaders to come together and discuss strategies for future growth.
“Businesses in the region are encountering a ’once in a generation’ opportunity. They are in the right place at the right time, with more finance options available than ever before.
“With the right strategy in place, focused on growth, MSBs in our region really can be leading the way.“
Details: Stephen Mills 023-8038-1180
stephen.mills@
uk.gt.com www.grant-thornton.co.uk
“High-growth areas are also well connected, with good access to services and amenities and have a high percentage of both office and commercial floorspace. This is certainly true in Bournemouth and perhaps the reason it, and its surrounding areas, is so attractive to large companies such as Amigo Loans, Fitness First, Lush and Sunseeker.“
The increase in population size in Bournemouth has contributed towards the town’s economic rise, according to Bournemouth Borough Council.
In 1801, Bournemouth had 489 residents. The population size has now grown to 186,700 residents and it is predicted this will rise to 201,200 by 2021. 124,200 (66.5%) of the current population are of working age and some 75% of these are economically active and contributing to the area’s economy.
This increase in total population has directly impacted the demand for goods and services locally. Additionally, the growth in working
THE BUSINESS MAGAZINE – SOLENT & SOUTH CENTRAL – DECEMBER 14/JANUARY 15
Growth Insights Breakfast Club
Grant Thornton’s Growth Insights Breakfast Club is held regularly across the region in Bournemouth, Southampton and Farnborough.
To find out more or to register your interest, contact Gemma Shannon, business development executive at Grant Thornton Southampton:
023-8038-1197
gemma.r.shannon@
uk.gt.com
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