• Swindon & Wiltshire Economy
• Monday September 16 2024
• Author Name: Peter Davison

‘Punching above our weight’ – Swindon reacts to Good Growth for Cities Index ranking

Swindon is continuing to punch above its weight in economic league tables. That was the message from civic and business leaders after the town ranked fourth in the Good Growth for Cities Index from Demos-PwC last week.

As reported on Wednesday Bristol, Swindon and Reading all made the top five in the index, which ranks the UK’s largest towns and cities on measures including jobs, health, income, safety and skills, as well as work-life balance, housing, travel-to-work times, income equality, high street shops, business start-ups, and the environment.

Swindon was above average in seven of the 12 indicators, particularly in jobs, income, health and average commuting time to work.

The only area where it fell below average was in the number of new businesses created in the town.

Councillor Jim Robbins, Leader of Swindon Borough Council, said: “I’m extremely proud that our town continues to punch above its weight in these economic performance tables against much larger cities.

“It’s a bit like one of the smaller Premier League teams qualifying for the Champions League, yet we continue to do well year on year. It is a great advert for the Borough and performing well in indicators like health, jobs and crime shows people that Swindon is a great place to live.

Honda site will be ‘gamechanger’ for Swindon’s economy in the years to come

“Yet we know there is still much more to do to realise our full potential.

“We are talking to major landowners about improvements we can make to the town centre, we have kick-started housebuilding in the Borough by recently unlocking 2,500 homes in the New Eastern Villages and we continue to engage positively with Panattoni on their plans for the former Honda site, which will be a gamechanger for Swindon’s economy in the years to come.

“We will be aiming to stay in the Champions League places if we can, but we’d love to go even higher.”

Ben Pykett, partner in PwC’s West of England Government and Health Industries team, said: “For a second year in a row, Swindon is among the five best-performing cities in our Good Growth for Cities Index.

“It performs strongly on indicators such as health, transport, income, and ranks top on safety. But the Index identifies areas of opportunity for future growth too: work-life balance, new businesses, housing and income distribution.

“Swindon’s outlook is a positive one – due no doubt in part to its transport links, record on safety and health and its business environment.”

The ranking was welcomed by Swindon Chamber of Commerce and the Federation of Small Businesses, although both said more could be done to encourage entrepreneurs to set up businesses in the town.

Low rank for start-ups – business leaders react

Workshed – Swindon’s SME hub

Tim Major, of Swindon Chamber of Commerce, said: “Swindon’s strong performance in the recent PwC Good Growth for Cities index is a testament to the town’s resilience and adaptability.

“While it’s true that the recent slowdown in business start-ups raises some concerns, it’s important to view this not as a negative, but as an opportunity for reflection and future growth.

“The merged colleges and the significant investment in the Institute of Technology present tremendous potential as a catalyst to business innovation and entrepreneurial spirit in the town.

“These educational hubs are equipping the next generation of talent with the skills needed for tomorrow’s industries.

“By fostering partnerships between education, technology, and business, Swindon can expect a future where start-ups are fuelled by a skilled workforce and cutting-edge resources.

“This endowment effect—where institutions drive long-term benefits to the local economy—will position Swindon as a thriving hub for both new and established businesses.

He added: “Rather than focusing solely on current start-up numbers, we should recognise the groundwork being laid for sustained economic development.

“These strategic investments in education and technology will ensure Swindon remains a competitive and vibrant place for business growth for years to come.”

And Ruth Lambert, development manager for Somerset & Wiltshire Federation of Small Businesses said: “Swindon has done very well to be one of the top places in the cities index. However, when I see other locations that have a stronger start-up culture it can be attributed to some things I do think Swindon could build on.

“Swindon Council has lost most of its economic development professionals, who could have provided support to residents wanting to start up in the town.

“There has been very little outreach from the council to their local entrepreneurs, and there is no coordinated network for start-ups. Meanwhile, Wiltshire Council has a start-up support programme, but needs to do more to promote it.

“The town also needs to do more to find space for start-ups. Although we have spaces like Workshed and Fig Flex, there are not any schemes to help start-ups move into the vacant retail units in town and finding affordable space can be challenging.

“Meanwhile, SMEs find it hard to attract skilled workers, because there is more demand than supply. And the lack of a traditional university means Swindon has fewer spin-outs than other cities.

“Change is starting, but it takes time.”