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South Bucks Councillor Update Economic Profile of Farnham Royal Ward

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South Bucks Councillor Update Economic Profile of Farnham Royal Ward South Bucks Councillor Update Economic Profile of Farnham Royal Ward April 2014 Produced by Buckinghamshire Business First’s research department P a g e | 2 1.0 Introduction Farnham Royal is home to 5,499 people and provides 2,300 jobs in 62 businesses. Of these businesses, 25 (40.3 per cent) are Buckinghamshire Business First members. There were 3,814 employed people aged 16-74 living in Farnham Royal ward at the 2011 Census, 340 more than the 3,474 recorded in 2001. Over that period the working age population rose 297 to 3,272 while the total population rose 516 to 5,499. The number of households rose by 194 (10.0 per cent) to 2,126. This is a significant percentage increase and places the ward fourth out of all wards in South Bucks. Based on the increase in number of households, the ward ranks 18th out of all wards in Buckinghamshire. The largest companies in Farnham Royal include: Wyevale Garden Centres Ltd; Caldicott Preparatory School; A Perfect Valet; Farnham Common Infant School; Bishop Sports & Leisure Ltd; E P Rothwell & Sons Ltd; and Dair House School Trust Ltd. There are 38 Farnham Royal, representing 1.2 per cent of working age residents, including 25 claimants aged 25-49 and 25 who have been claiming for less than six months. Superfast broadband is expected to be available to 97 per cent of premises in the Farnham Royal ward by March 2016 with commercial providers responsible for the full 97 per cent. The Connected Counties project, run by BBF, will deliver no superfast broadband following this sufficient coverage from commercial suppliers. BBF is seeking to deliver an extended superfast footprint via additional funding, adaptation of downstream technology and contract claw-back mechanism. At the time of the 2001 Censusi, of the 2,372 employed residents, 647 people lived and worked in the ward, with the most common destinations by local authority district being: South Bucks (877, 37.0 per cent) Slough (461, 19.4) Hillingdon (157, 6.6) Windsor and Maidenhead (110, 4.6) Wycombe (84, 3.5) Westminster, City of (75, 3.2) Chiltern (55, 2.3) Hounslow (40, 1.7) P a g e | 3 2.0 Industrial structure There are 62 businesses located in Farnham Royal employing 2,300 people. Of these businesses, 51 are micro businesses, employing fewer than 10 people. Farnham Royal is over-represented in business administration and support services which accounts for 36.3 per cent of employment ranking the ward 76th out of all wards. Motor trades covers 4.1 per cent of employment and as a result the ward is ranked 1,346th out of all wards. Property accounts for 3.0 per cent of employment. Based on the proportion of employment in this sector, the ward is ranked 1,364th out of all wards. Professional, scientific & technical makes up 9.5 per cent of employment while education contributes to 11.3 per cent of all employment in the ward. Chart 1: Industrial Structure Index, 2012 (GB=100) Mining, quarrying & utilities Manufacturing Construction Motor trades Wholesale Retail Transport & storage Accommodation & food services Information & communication Financial & insurance Property Professional, scientific & technical Business administration & support services Education Health Arts, entertainment, recreation & other services 0 50 100 150 200 250 300 350 400 450 Source: BRES, ONS, 2013 Farnham Royal is under-represented in a number of sectors including; manufacturing; wholesale; transport & storage; financial & insurance; and health. Manufacturing covers just 0.3 per cent of employment while wholesale makes up just 1.8 per cent of employment. Transport & storage makes up a total of 0.5 per cent of employment ranking the ward 6,776th out of all wards. Financial & insurance contributes to just 0.5 per cent of employment while health makes up 8.9 per cent. P a g e | 4 2.1 The Industrial Strategy and the Plan for Growth Plan for Growth and the Industrial Strategy set out policies to realise this objective and to rebalance the economy, which include focusing on sectors expected to deliver strong growth. South Bucks -represented in these sectors, particularly aerospace, the information economy and professional and business services. While Farnham Royal provides jobs in these sectors, the industrial strategy sector where the ward delivers the highest share of national employment is education which accounts for 11.3 per cent of employment, ranking Farnham Royal at 3,622nd among English wards. The proportions of jobs in Farnham Royal in Industrial Strategy sectors are presented in Table 1. Table 1: Employment in selected industrial strategy sectors, 2012 Construction PBS EconomyInformation Education South Bucks 5.1 16.8 2.3 7.1 Buckinghamshire 5.2 14.7 4.4 9.7 England 4.2 12.1 2.9 9.2 Farnham Royal 3.2 9.9 3.9 11.3 Source: BRES, ONS, 2013 At 9.9 per cent, the proportion of Farnham Royal professional and business services sector is the 2,676th highest of all wards in England, the proportion is below that of both the country level and the district level. 3.0 Labour market At 67.9 per cent of 16-74 year olds, Farnham Royal lowest in the country. Farnham Royal has a proportion of 41.4 per cent of its residents qualified to degree level or higher. Furthermore, 60.7 per cent work in managerial, professional or technical occupations. In South Bucks the wards most similar to Farnham Royal are Beaconsfield West, Hedgerley & Fulmer and Stoke Poges with eight of the other 27 wards among the top thousand closest matches. The least similar ward in the district is Burnham Lent Rise, the only ward in South Bucks to rank lower than the 3,000th closest match. P a g e | 5 Table 2: Farnham Royal performance & nearest neighbours, 2011 Self-employed 1-3 SOCs NVQ4+ age Working Employmentrate Ward Name Home from Work Farnham Royal 7.4 15.0 60.7 41.4 59.5 67.9 Beaconsfield West 7.2 14.9 58.3 41.8 59.9 66.7 Hedgerley and Fulmer 10.1 19.2 60.1 36.5 59.6 66.9 Stoke Poges 6.3 15.1 55.3 35.6 61.6 67.9 Beaconsfield South 6.3 13.2 65.0 47.4 61.5 72.3 Gerrards Cross North 9.9 16.0 71.8 51.6 55.4 65.0 Source: Census, 2011 Farnham Royal has a high level of those who work from home and of those who are self- employed. Furthermore, as stated previously, the ward has a high level of those educated to degree level or higher and those working in managerial, professional and technical roles ranking in the top quartile for both. Farnham Royal looks to have a high employment rate and a very low level of working age residents. Chart 2: Farnham Royal Work from Home 100 75 Employment rate 50 Self-employed 25 0 Working age SOCs 1-3 NVQ4+ Source: Census, 2011 P a g e | 6 4.0 Occupational Structure Farnham Royal remunerated occupations, with 60.7 per cent of working residents employed in managerial, professional and technical occupations, ranking in the top quartile nationally for each. In contrast Farnham Royal ranks in the bottom quartile for other occupations, with only 4.9 per cent of working residents employed in elementary occupations. Chart 3: Farnham Royal 1. Managers, directors and senior officials 100 9. Elementary occupations 2. Professional occupations 75 50 8. Process plant and machine 25 3. Associate professional and operatives technical occupations 0 7. Sales and customer service 4. Administrative and secretarial occupations occupations 6. Caring, leisure and other 5. Skilled trades occupations service occupations Source: Census, ONS, 2011 5.0 Deprivation Buckinghamshire has the lowest level of economic deprivation of any Local Enterprise Partnership, with South Bucks having the 13th lowest economic deprivation of all 326 local authority districts in England, behind South Bucks (10th) but ahead of Aylesbury (37th) and Wycombe (69th). Chart 4 demonstrates the concentration of South Bucks the least deprived in England with 8 of the 19 wards featuring among the least deprived 10 per cent of all wards in England and none falling below the sixth most deprived ranking among the most deprived half of English wards, a stark contrast to the London Borough of Newham where no ward ranks above halfway, highlighting the challenge South Bucks faces to attract resources to tackle deprivation. P a g e | 7 Farnham Royal has the 435th lowest economic deprivation of the 7,707 wards in England and the eighth least economically deprived of the 19 South Bucks wards. Farnham Royal is the 29th least economically deprived among the 108 wards in Buckinghamshire. The position of South Bucks ds in England is shown in Chart 4 below, with Farnham Royal one of the eight least deprived decile. Chart 4: Relative economic deprivation of South Bucks wards by English decile, 2009 9 8 7 6 5 4 3 2 1 0 Most Least deprived deprived Source: DCLG, 2012 Farnham Royal ranks 7,305th out of all wards in England based on the Index of Multiple Deprivationii; this makes it among the least deprived decile in England, above South Bucks 6,084th, demonstrating that the ward is less deprived than the district as a whole. P a g e | 8 Chart 5: Comparative deprivation by IMD domain in Farnham Royal IMD 100.0 Living environment 75.0 Income 50.0 25.0 Crime 0.0 Employment Housing Health Education Source: DCLG, 2010 The wards in South Bucks most closely matching Farnham Royal deprivation profile are presented in Table 3.
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