Five Points for Growth in a Single Sector/Employer Economy

Shocks to the economy bring the spotlight on economic resilience - from the effect of Covid-19 or the financial crisis - shocks remind us of the risks of places that rely on a single sector or employer. Resilience in the economy might mean having access to a variety of sectors, businesses, and employers that are performing well in their own right or ensuring that the dominant sector’s supply chain can diversify and pivot. Towns up and down the country face this challenge, either through one major infrastructure employer (such as a port or energy facility) or those which have felt the effects of decline in certain manufacturing sectors.

Having a major anchor employer or sectors has its challenges and opportunities. In this short guide, we set out some key considerations and strategies for towns in this position.