• Swindon & Wiltshire Economy
• Tuesday July 15 2025

Swindon and Wiltshire has lost 1,300 businesses since pandemic – report

Swindon and Wiltshire have lost 1,300 businesses since the pandemic, and the area’s working population is smaller than the pre-Covid years.

Those are some of the findings of the 2025 Local Economic Assessment from the Swindon and Wiltshire Business Growth Unit, published this week.

The report says Swindon and Wiltshire are home to 28,555 businesses, representing 13 per cent of the South West’s business base. The majority of these businesses are micro-organisations employing fewer than nine people.

However, the area has seen a decline in its business base with a net loss of 1,370 businesses between 2019 and 2024, according to the report.

The area has also seen a decline in employment. Between 2018 and 2023 the total number of filled jobs in Swindon shrank by 6,000 jobs – or -5 per cent. This runs counter to the national rate of change of +5 per cent over the period.

In Wiltshire, however, the number of filled jobs increased by 3,000 jobs – one per cent – over the same period.

The report shows the combined economic output of Swindon and Wiltshire contributes a “substantial” £26 billion in Gross Value Added – an economic metric that measures the contribution of a producer, industry, or sector to an economy – to the UK economy.

Wiltshire accounts for 56 per cent (£14.4 billion) of this total, while Swindon contributes 44 per cent (£11.5 billion).

The official statistics data shows that in terms of GVA output Wiltshire experienced a robust post-pandemic recovery, achieving a growth rate of five per cent between 2019 and 2022.

In contrast, Swindon saw a slight economic contraction of one per cent during the same period, thought largely due to the closure of the Honda manufacturing plant in 2021 being reflected in the data.

The findings show the top sectors driving the economy in Swindon and Wiltshire include real estate, financial and insurance services, manufacturing, professional, scientific and technical services, and wholesale and retail trade.

Swindon has a notable reliance on financial and insurance services, which account for 26 per cent of its GVA while Wiltshire’s economy is bolstered by public administration and defence, contributing 14 per cent to its GVA.

The report also highlights several future trends that will shape the economic landscape of Swindon and Wiltshire, including the green transition, automation and AI, and changing global trade dynamics.

The authors of the report say the area is well-positioned to leverage these trends to drive sustainable and inclusive growth with the support of government funding and private sector investment.

Other key findings include:

• Swindon has high productivity levels – among the top 15 local authorities in England
• Wiltshire’s productivity has grown by 12 per cent, but remains below the national average
• Employment in Swindon has declined since 2018, but the number of high-skilled roles are growing
• Employment in Wiltshire is growing modestly, with strengths in life sciences and environmental tech
• In Wiltshire, retirees account for a fifth (19 per cent) of economically inactive people.
• In Swindon it is over a quarter (26 per cent). The UK average is 13 per cent.

Councillor Helen Belcher, cabinet member for economic development, said: “The 2025 Local Economic Assessment is an invaluable resource that provides a robust evidence base for our economic strategies.

“By understanding the current economic landscape, we can make informed decisions that foster business and drive sustainable growth.

“This assessment points to the importance of strategic investments in key sectors. by addressing the challenges and capitalising on the opportunities identified in the LEA, we can foster growth, create new jobs and opportunities for our residents.”

Councillor Jim Robbins, leader of Swindon Council, said: “The 2025 Local Economic Assessment provides a vital snapshot of Swindon’s economic landscape, highlighting both our strengths and the exciting opportunities ahead.

“With a renewed focus on town centre regeneration and the significant potential at Panattoni Park, we are well-positioned to attract new inward investment and create high-quality jobs.

“We are committed to working collaboratively with businesses, communities, and stakeholders to build a resilient, inclusive, and prosperous future for everyone in Swindon.”

The Swindon and Wiltshire Business Growth Unit supports the sustainable and inclusive growth of Swindon and Wiltshire. Through strategic initiatives, partnerships, and business support programmes, the unit aims to create a thriving and resilient economy.

Pictured: DJM Tower, Swindon by Mewwiii / Salisbury Cathedral by Jack Pease
Both published under Creative Commons licence