Surrey Business Trends: What Industries Are Thriving in 2023?

Welcome to an insightful exploration of Surrey’s economic pulse in 2023. In this blog post, ‘Surrey Business Trends: What Industries Are Thriving in 2023?’, we delve into the dynamic industries that are making waves in the county’s business landscape. Discover the sectors that are driving growth, innovation, and opportunities for businesses and entrepreneurs in Surrey this year. Let’s uncover the trends that are shaping the county’s economic future.

Despite the challenges posed by the COVID-19 pandemic, Surrey’s business climate remains remarkably resilient. As we navigate the post-pandemic landscape, Surrey continues to stand as the second-largest contributor to the UK economy, right after London, demonstrating its enduring economic strength and significance on a national scale.

Surrey boasts a rich ecosystem of cutting-edge academic and corporate research and development (R&D), in addition to hosting high-performing businesses from both the UK and across the globe. This dynamic environment collectively contributes over £43 billion to the economy annually.

In Surrey, a substantial 40% of all businesses operate within these knowledge-intensive sectors, in contrast to the national average of 27%.

Based on research conducted by the University of Surrey, which conducted an in-depth economic baseline analysis to support the council’s decision-making, the county hosts approximately 600 active businesses per 10,000 residents. This figure reflects a notable 23% increase compared to the equivalent statistic for the broader South East England region

Surrey boasts a greater share of businesses operating within professional, scientific, and technical sectors, as well as information and communication industries, in comparison to the broader South East region and the entirety of England. Notably, professional, scientific, and technical businesses constitute the largest proportion in Surrey, accounting for 22% (11,450 enterprises), followed by the construction sector at 13% (6,710 enterprises), and the information and communication industry at 11% (5,910 enterprises). You can learn more about these stats on the Surrey County Council website here.

Surrey doesnt just have natural beauty, it has one of the biggest economies in the UK

5 Surprising Businesses with Surrey as Their Home Base

Surrey is home to a diverse array of businesses that may not be immediately associated with the county’s picturesque landscape. McLaren Automotive, headquartered in Woking, is renowned for its cutting-edge sports cars and luxury vehicles. Samsung, the South Korean technology giant, maintains a research institute in Chertsey, Surrey, contributing to its global R&D efforts. GlaxoSmithKline (GSK), a major pharmaceutical and healthcare company, operates its Consumer Healthcare division in Weybridge, Surrey, focusing on consumer healthcare products. Even streaming giant Netflix, while headquartered in the U.S., has a significant presence at Surrey’s Shepperton Studios, producing popular original content. Additionally, Silent Pool Distillery, nestled in Albury, Surrey, has made a name for itself in the world of artisanal spirits, crafting exceptional gin, vodka, and more amidst Surrey’s scenic landscapes. These businesses reflect Surrey’s role as a hub of innovation and diverse economic activity.

Thriving Industries: Surrey Business Trends

In a recent blog post featured in the business magazine, green innovation takes the spotlight. The council has outlined its commitment to fostering the growth of the low-carbon and environmental goods and services sector while promoting the widespread adoption of eco-friendly technologies. A noteworthy illustration of this environmental focus can be seen in DBE Energy, a company specializing in hydrogen fuel production through anaerobic digestion, further exemplifying the increasing emphasis on sustainable solutions.

Surrey’s Economic Future outlines the strategies that the County Council intends to implement in order to promote sustainable growth and fulfil its Corporate Priority of ‘Nurturing a sustainable economy for the benefit of all.

Surrey, a county known for its idyllic countryside and historic charm, is not just a place of natural beauty. It’s also a thriving hub of economic activity, with several industries experiencing remarkable growth and success. In this article, we’ll explore some of the thriving industries in Surrey and the opportunities they present in the ever-evolving business landscape.

Professional and Scientific Services: Surrey boasts a significant presence of professional and scientific services. This sector encompasses a wide range of businesses, from legal and accounting firms to consulting and research companies. The demand for expert advice and specialized services in areas like technology, finance, and law has contributed to the growth of this industry. For entrepreneurs and professionals in these fields, Surrey provides a fertile ground to establish and expand their practices.

Information and Communication Technology (ICT): The Information and Communication Technology sector is thriving in Surrey, driven by innovation and digital transformation. With the presence of major technology companies and startups, Surrey has become a hotspot for tech talent and innovation. This sector offers opportunities for tech entrepreneurs, software developers, and digital marketers to leverage the county’s dynamic ecosystem.

Healthcare and Life Sciences: Surrey’s healthcare and life sciences sector is on the rise, with the presence of renowned companies and research institutions. The county is a center for medical research, pharmaceuticals, and biotechnology. The ongoing focus on healthcare innovation presents opportunities for businesses involved in medical research, pharmaceuticals, and healthcare technology.

Renewable Energy and Sustainability: As the world grapples with environmental challenges, Surrey is emerging as a hub for renewable energy and sustainability initiatives. Companies dedicated to clean energy solutions, sustainable construction, and eco-friendly practices are finding ample opportunities in the region. Surrey’s commitment to green initiatives and sustainable development creates a favourable environment for businesses in this sector.

Creative Industries: Surrey’s proximity to London has led to the growth of its creative industries, including film, television, and the arts. Shepperton Studios, located in Surrey, is a renowned hub for film and TV production. This sector offers opportunities for filmmakers, artists, and creative professionals looking to collaborate with the entertainment industry.

Financial and Professional Services: With a strong presence of financial institutions, investment firms, and professional service providers, Surrey’s financial and professional services sector is thriving. The county’s strategic location and connectivity to London make it an attractive destination for businesses seeking to tap into the financial markets and provide expert services.

Factors Driving Growth in Surrey’s Thriving Industries

Surrey’s robust economy and thriving industries can be attributed to a multitude of factors that make the county an attractive destination for businesses and entrepreneurs. These factors create an environment conducive to innovation, growth, and prosperity across various sectors. (Here’s another post by InvestSurrey about the 5 reasons why you should start a business in Surrey) Let’s delve into some key drivers of this economic success.

1. Strategic Location: Surrey’s strategic location, adjacent to London and within easy reach of major airports and ports, provides businesses with unparalleled access to markets and global connectivity. Proximity to the capital city is a significant advantage, enabling businesses to tap into London’s diverse customer base and financial resources.

2. Skilled Workforce: The county benefits from a highly educated and skilled workforce. Surrey’s proximity to prestigious universities and research institutions not only produces top-tier talent but also fosters a culture of innovation. This skilled labor pool is a critical asset for industries ranging from technology and healthcare to professional services.

3. Infrastructure Investment: Surrey has seen substantial investment in its infrastructure, including transportation, technology, and utilities. Modern transportation networks, such as road and rail systems, facilitate the movement of goods and people. High-speed internet connectivity and access to cutting-edge technology further support business growth and innovation.

4. Supportive Business Environment: The local government and business organizations in Surrey actively support entrepreneurship and economic growth. Initiatives to streamline regulations, offer financial incentives, and provide resources for startups and businesses have created a favorable business environment. This support nurtures the growth of both established companies and startups.

5. Research and Innovation: Surrey is home to a thriving research and innovation ecosystem. The presence of research institutions, business incubators, and innovation centers fosters a culture of creativity and problem-solving. Businesses in knowledge-intensive sectors benefit from this collaborative environment, driving advancements in technology and product development.

6. Sustainability Initiatives: Surrey’s commitment to sustainability and green initiatives has attracted businesses focused on renewable energy, environmental solutions, and sustainable practices. Consumers and investors increasingly favor companies with strong environmental commitments, making sustainability a driving force for growth.

7. Access to Capital: Surrey’s proximity to London’s financial district provides access to a wide range of capital sources, including venture capital, private equity, and traditional banking institutions. This access to capital is crucial for startups and businesses looking to scale their operations.

8. Quality of Life: The high quality of life in Surrey, with its beautiful landscapes, excellent schools, and cultural amenities, makes it an appealing place for professionals and their families. This, in turn, attracts top talent to the region and supports the growth of local businesses.

Unlocking Opportunities for Entrepreneurs in Surrey

Surrey, with its picturesque landscapes and vibrant economy, is a land of opportunities for aspiring entrepreneurs. As the county continues to thrive and diversify, it presents a wide range of possibilities for those with innovative ideas and a passion for business. Here, we explore the unique opportunities awaiting entrepreneurs in Surrey’s dynamic landscape.

1. Knowledge-Intensive Sectors: Surrey is home to a thriving cluster of knowledge-intensive industries, including technology, finance, healthcare, and professional services. Entrepreneurs with expertise in these sectors can tap into the wealth of talent and resources available in the county to start or scale their ventures. Whether you’re developing cutting-edge software or launching a fintech startup, Surrey provides an ideal ecosystem for knowledge-based businesses. You can read more about the types of businesses in Surrey from the stats website Surreyi.

2. Sustainability and Green Tech: The global shift towards sustainability and green technology is reflected in Surrey’s business landscape. Entrepreneurs interested in eco-friendly solutions, renewable energy, or sustainable practices will find a welcoming environment. Surrey’s commitment to sustainability initiatives and green investments creates a fertile ground for startups that aim to make a positive environmental impact.

3. Creative Industries: Surrey’s proximity to London and its thriving creative sector offer entrepreneurs in the arts, entertainment, and media unique opportunities. Whether you’re a filmmaker, artist, or content creator, Surrey’s film studios and creative community provide a platform to bring your artistic vision to life and connect with the entertainment industry.

4. Healthcare and Life Sciences: With a strong presence of pharmaceutical companies, research institutions, and healthcare providers, Surrey offers entrepreneurs in the healthcare and life sciences sector opportunities for innovation and collaboration. Whether you’re developing medical devices, biotech solutions, or healthcare technology, Surrey’s healthcare ecosystem provides a supportive environment for growth.

5. Access to Capital: Surrey’s proximity to London’s financial district means entrepreneurs have access to a diverse array of capital sources. Venture capital firms, angel investors, and traditional banking institutions are within reach, offering potential funding opportunities for startups looking to scale their operations.

6. Business Incubators and Support Networks: Surrey hosts various business incubators, accelerators, and support networks designed to nurture startups and early-stage businesses. These organizations provide valuable mentorship, resources, and networking opportunities, helping entrepreneurs navigate the challenges of starting and growing a business.

7. Export and International Trade: Surrey’s strategic location and international connectivity make it an ideal base for businesses looking to expand into global markets. Entrepreneurs interested in international trade, export, or importing can leverage Surrey’s logistical advantages to reach a broader customer base.

8. Digital Economy: Surrey’s growing digital economy presents opportunities for entrepreneurs in e-commerce, digital marketing, and technology-driven businesses. The county’s investment in high-speed internet and technology infrastructure facilitates the growth of digital startups and online ventures.

Resources and Support: Empowering Businesses in Surrey

Businesses in Surrey can find the support and resources they need to flourish. Whether you’re a startup looking to establish your presence or an established business aiming to grow, Surrey offers an array of resources and support networks to guide you on your journey to success. You can read more about all of the support Surrey County offers from their library website here.

1. Business Incubators and Accelerators: Surrey is home to several business incubators and accelerators designed to nurture startups and early-stage businesses. These organizations provide valuable mentorship, access to funding opportunities, and shared office spaces, creating an environment where entrepreneurs can exchange ideas and receive guidance.

2. Surrey Chambers of Commerce: The Surrey Chambers of Commerce is a valuable resource for businesses in the county. They offer networking events, business training, and advocacy on behalf of local businesses. Being a member of the chamber can provide businesses with access to a network of professionals and potential partners.

3. Surrey County Council Business Support: Surrey County Council provides a range of services and resources for local businesses. They offer guidance on funding opportunities, assistance with regulatory compliance, and access to economic development programs aimed at boosting business growth.

4. Financial Assistance and Grants: Surrey’s commitment to supporting entrepreneurship is reflected in its financial assistance programs and grants. These programs can help businesses secure funding for various purposes, from research and development to sustainability initiatives.

5. Networking and Business Associations: Surrey hosts numerous business associations and networking groups, connecting entrepreneurs with like-minded individuals and potential collaborators. These networks provide opportunities for building valuable relationships and gaining insights into the local business landscape.

6. Access to Talent: Surrey’s proximity to leading universities and research institutions ensures access to a pool of skilled professionals, researchers, and innovators. This talent pool is a valuable resource for businesses seeking to expand their workforce with top-tier talent.

7. Export and International Trade Support: For businesses looking to expand their reach globally, Surrey offers export and international trade support services. These resources can help navigate the complexities of international markets and connect businesses with potential international partners.

8. Sustainability Initiatives: Surrey is committed to sustainability and green initiatives. Businesses focused on eco-friendly practices can access resources and support to implement sustainable strategies and reduce their environmental footprint.

9. Digital Resources and Technology Hubs: Surrey’s investment in technology infrastructure and digital resources benefits businesses in the digital economy. Access to high-speed internet, technology hubs, and innovation centers facilitates the growth of tech startups and online ventures.

Conclusion: Surrey Business Trends

In conclusion, our exploration of Surrey's Business Trends in thriving industries in 2023 underscores the county’s status as a prime destination for business growth and innovation. From the technology sector to sustainability initiatives, healthcare to creative endeavours, Surrey’s diverse economic landscape offers a plethora of opportunities.

At Reboot Coaching, we stand ready to provide professional support for your entrepreneurial aspirations in this dynamic environment. Whether you are a startup seeking strategic guidance, an established enterprise considering a pivot, or an individual aiming for personal growth within this thriving business ecosystem, we are committed to your success.

Interested in experiencing the tangible benefits of business coaching? We invite you to reach out to us for a complimentary taster session. Let us be your trusted partner on your journey towards success within Surrey’s bustling business landscape. Contact us today to initiate your transformative journey.