Economic performance
UK Competitiveness Index Position
35
(2023)
Economic Strategy 2024 to 2034: action plan updates - Economic Strategy 2024 to 2034: quarter 4 update
Published: 14 November 2024
This update covers quarter 4 (January to March) for 2024 to 2025.
Highlights and challenges
The fourth quarter has seen the continued development of the Bracknell Forest Economic Partnership and progress towards the actions identified in the action plan. The Bracknell Forest Economic Partnership has focussed on 3 priority areas that align with the economic strategy. Three groups have been created to support the priorities:
- Grow, and attract business – innovation and technology
- Procurement to support local growth
- Pride in Bracknell Forest – a community and business friendly place
Berkshire Growth Hub continue to offer business support to start ups, existing businesses and high growth businesses in the borough. We are exploring what additional business support opportunities.
Current position
Key measures
Under each of the four themes in the Economic Strategy there is one key metric that shows the current position of Bracknell Forest. These will be kept under review by the council’s economic development team and the Bracknell Forest Economic Partnership. Principal indicators are set out below.
The UK Competitiveness Index measures the long term potential of a location to generate economic growth and well paid employment. These are then ranked. Bracknell is currently at position 35 of 362.
Business competitiveness
Companies in Bracknell Forest with a turnover of £1m to £5m
7.91%
(Sept 2024)
Previously reported at 7.10% (Sept 2023)
People, work and wellbeing
Percentage of residents in lowest 3 occupational groups
16.4%
(Jan to Dec 2024)
Previously reported at 15.9% (Oct 2023 to Sept 2024)
Place, climate change, infrastructure and connectivity
Affordability ratio of median salary: median house price
9.22
(2024)
Previously reported at 10.11 (2023)
The quarter 4 report is an update on the base position set in reports for quarter 1, quarter 2 and quarter 3. For quarter 4 the indicators and performance measures, it continues to show a broadly positive outlook. As with the previous report business growth continues to be an area of concern. Work is continuing to identify barriers to investment at a local and regional level, to encourage start-ups and to help existing businesses to grow.
Headline charts
The following charts show the current status of the 24 key metrics under the priority themes identified in the Bracknell Forest Economic Strategy 2024-2034
They provide an overview of the current position versus target as a red, amber or green (RAG) status, plus the direction of travel of latest data against previous results.
Performance against target or forecast
This data in the charts above shows us that the status of the local economy is reasonably strong and has clear potential to grow.
Economic Strategy action plan indicators: RAG status summary at quarter 4 2024 to 2025
Economic Strategy action plan indicators: RAG status by theme at quarter 4 2024 to 2025
Performance trends
Economic Strategy action plan indicators: performance trends summary at quarter 4 2024 to 2025
Economic Strategy action plan indicators: performance trend by theme at quarter 4 2024 to 2025
Action plan performance update overview
The information in this document summarises the performance and trend for all 24 metrics in the Economic Strategy action plan.
| Attachment | Size |
|---|---|
| 198 KB |
Exception commentary
Where the current performance status is ‘red’, more than 10% off target or forecast and the data has been changed since Q3 report, commentary is provided below.
Business competitiveness
Business growth rate - number of businesses compared to pre-covid 19 numbers (2019)
-3.75% compared to -2.68% reported in quarter 3.
We have continued to see a decline in the number of businesses in Bracknell Forest since 2019.
Bracknell Forest has experienced one of the smallest declines (-3.75%), especially when compared to areas like West Berkshire (-9.35%) and Reading (-6.67%). Slough is the only area showing a slight increase (+0.24%).
Number of enterprises 2019 to 2024
| Year | Bracknell | Reading | Slough | West Berks | RBWM | Wokingham |
|---|---|---|---|---|---|---|
| 2019 | 4,665 | 7,045 | 6,380 | 8,875 | 9,575 | 8,865 |
| 2020 | 4,720 | 7,090 | 6,555 | 8,800 | 9,550 | 9,005 |
| 2021 | 4,665 | 6,880 | 6,660 | 8,570 | 9,495 | 8,900 |
| 2022 | 4,565 | 6,740 | 6,570 | 8,345 | 9,375 | 8,605 |
| 2023 | 4,540 | 6,550 | 6,300 | 8,135 | 9,070 | 8,360 |
| 2024 | 4,490 | 6,575 | 6,395 | 8,045 | 9,040 | 8,340 |
| Percentage change since 2019 | -3.75% | -6.67% | 0.24% | -9.35% | -5.59% | -5.92% |
People, work and wellbeing
Percentage of working population in lowest 3 occupational groups
Increased 16.4% (Jan to Dec 2024) previously reported as 15.7% (Oct 2023 to Sept 2024) compared to a target of 12%
For the second consecutive quarter there has been an increase in the percentage of the working age population in the lowest 3 occupational groups. These occupations include:
- sales
- customer service
- process plant and machine operatives
- elementary occupations
The chart below shows all occupation categories for Bracknell Forest (January 2024 to December 2024).
| Occupations | Bracknell Forest % |
|---|---|
| 1. Managers, directors and senior officials | 18.0% |
| 2. Professional occupations | 25.2% |
| 3. Associate professional occupations | 17.7% |
| 4. Administrative & secretarial occupations | 7.6% |
| 5. Skilled trades occupations | 9.4% |
| 6. Caring, leisure and Other Service occupations | 5.8% |
| 7. Sales and customer service occs | 4.8% |
| 8. Process plant & machine operatives | 5.2% |
| 9. Elementary occupations | 6.4% |
Launched in September 2024, the Bracknell Forest Skills Hub, based at the Open Learning Centre aims to support Bracknell Forest residents to identify and engage with training opportunities to improve employment prospects. With the support from the UK Shared Prosperity Fund, this project continues for 2025 to 2026.
Spotlight on people, work and wellbeing
The Bracknell Forest Skills Hub is a project designed to help the local community by providing skills training and career support. Funded by the UK Shared Prosperity Fund, it provides a link between, career seekers, training programs and local businesses. The hub connects people with the resources they need to succeed in their careers. It helps local businesses find and develop talent, boosting Bracknell Forest’s economic growth.
The Bracknell Forest Healthy Workplace Alliance is a public health initiative designed to promote and manage the health and wellbeing of employees in the borough. Facilitated by the Bracknell Forest Council's public health team, the alliance provides local businesses with information, support, and resources to create a healthy workplace culture. The Healthy Workplace Award scheme recognises the great work that businesses are doing to provide a healthy workplace environment and culture.
Together, the Bracknell Forest Skills Hub and the Healthy Workplace Alliance are working to enhance the quality of life for residents and workers in Bracknell Forest.