New Report Reveals Why Rural Economy Is Vital For Economic Growth of The Region

It highlights the importance of the rural area to the future success of the Coast to Capital region, pointing out that the size of the rural economy with over 22% of businesses located there is vital to future prosperity and growth.

 

Julie Kapsalis, Coast to Capital Board Member and Chair of its Rural Economy Committee, said: "The rural economy contributes £13 billion or 27% of our area's output annually. It's the people who are the key asset to any economy and which attract so many businesses to locate here. Our rural residents tend to be highly skilled and qualified. They also tend to be more entrepreneurial with large numbers of home-based businesses and significantly higher rates of self-employment than in urban areas, although if female self-employment rates in rural areas were the same as male rates, there would be another 17,000 jobs.

 

"However, there are some issues which are holding back the sector; our rural businesses and resident populations are growing, driving the need for more housing and employment space. Poor transport connectivity, access to childcare and higher housing, inadequate broadband speeds and lack of suitable business premises are all major issues facing the rural economy and can make it difficult for some residents to access employment."

Key points:-

• One in five businesses is based in our rural areas
• The rural economy accounts for 27% of Coast to Capital's economic output
• It's not just agriculture, important though that is - over 1,000 rural manufacturing companies are based in the rural area
• The biggest rural industry is professional and business services which makes up nearly a fifth of rural companies –
• There is also a large and technology-intensive food production and horticulture sector of 500 companies contributing an estimated £1bn per annum and viticulture and brewing are also very important with a growing number of world class vineyards and 60 breweries in West Sussex alone

 

Julie Kapsalis added: "The future brings great opportunities for the rural economy such as possible airport expansion at Gatwick and improved infrastructure. We know that growth has to be sustainable, that is whilst protecting and enhancing our beautiful rural environment. We will make the most of these opportunities through our action plan for sustainable rural growth which will follow in autumn 2016."

 

If you would like to read the statement in full please visit the website www.coast2capital.org.uk.

 

	Rural Statement	DOWNLOAD
	Rural Statement Executive Summary	DOWNLOAD
	Rural Statement Launch Event Presentation	DOWNLOAD