Economy - Invest in Harborough District

Economy Profile

By 2023 Harborough District’s economy will have established a robust reputation as a dynamic, entrepreneurial and attractive place to do business.

A general assessment of data for the Harborough economy shows that the headline characteristics and performance of Harborough’s economy is largely positive. It’s amongst the highest economic activity rates, lowest unemployment, best skills profile and highest average earnings of the LLEP area.
Source: Economic Development Strategy 2017

● Resident population aged 16-64 is 59.8% in Harborough
● Economically Active 88.7% in Harborough

Qualifications profile in Harborough (2017)

● NVQ4 and above 41.3%
In England the figure was 38.6% of the working age population has an NVQ4 and above.
● NVQ3 and above 65.5%
● NVQ2 and above 84.1%
● NVQ1 and above 92.9%

Earnings by place of residence (2017)

● Gross Weekly Pay (Full time workers) £607.00
● Average Hourly Pay (Full time workers) £15.79

Work

Businesses in Harborough

Latest data shows that between 2011 and 2015 business start-ups rates in Harborough district have grown by 16.3%. An increase from 460 start-ups in 2011 to 535 in 2015. The business survival rates are the second highest in the LLEP area, 67.8% of start-ups surviving after 3 years. This demonstrates a positive and resilient business base for start-up businesses in the district.

Source: Economic Development Strategy & ONS Data

Enterprises in Harborough – 5,340 (2019)

● Micro (0 to 9): 4,820
● Small (10 to 49): 425
● Medium (50 to 249) 80
● Large (250+) 10

Local Units in Harborough – 5,760

● Micro (0 to 9): 5,020
● Small (10 to 49): 600
● Medium (50 to 249): 125
● Large (250+): 15

Source: https://www.nomisweb.co.uk/

Key Employment Space

Market Harborough

The Point Business Park, Rockingham Road
Bowden Business Village, Off Leicester Road
Riverside End Industrial Estate, Riverside
Compass Point Business Park, Northampton Road
Airfield Business Park, Leicester Rooad
Peaker Park, Rockingham Road

Lutterworth

St John’s Business Park, off Rugby Road
Bilton Way Industrial Estate, Leicester Road
Midland Court, off Leicester Road
Cosford Business Park, off Central Way

Broughton Astley

Swannington Road/Stainer Road Industrial Estate

Rural Centres

Nursery Court and Milestone, Kibworth Business Park, south of Harborough Road, Kibworth Harcourt
Churchill Way Industrial Estate, Fleckney

Population

It is recorded by the Office for National Statistics that Harborough’s population is 92,500. This is forecast to increase to 99,814 in 2031. The bulk of this increase is expected to come from immigration to the District from within the UK

POPULATION BY AGE

	Harborough	Leicester	Leicestershire	LLEP Area	England
Total Population	92,499	355,218	698,268	980,300	55,977,178
0 to 15 (#)	17,009	76,034	125,178	174,500	10,748,458
16 to 64 (#)	55,317	236,880	430,800	653,100	35,049,467
Over 64 (#)	20,173	42,304	142,290	152,700	10,179,253
0 to 15 (%)	18	21	18	18	19
16 to 64 (%)	60	67	62	67	63
Over 64 (%)	22	12	20	16	18