Haywards Heath, Located in West Sussex is an up-and-coming business spot. With its great location and solid infrastructure it's quickly becoming the place for local business owners and aspiring entrepreneurs. 

In this blog, we’ll cover the current business landscape in Haywards Heath, the statistics, emerging sectors, local resources and some of the challenges businesses may face in the area. 

Economic Overview of Haywards Heath 

As of 2024, Haywards Heath has a population of around 20,000 people, which is part of overall growth in West Sussex, which has seen a 9.2% population increase over the last 10 years. The working population (ages 16-64) make up just under 60% of the population which is down slightly from a decade ago but still a big workforce to support its economy. 

Haywards Heath has a very diverse economy, with several key sectors including:

Professional Services: Including legal, financial and consulting services, this sector is a big part of local employment. 

Retail: With a mix of independent businesses and well-known retail chains Haywards Heath’s retail sector is thriving and contributes heavily to the local economy. 

Health And Social Care:  With the demographics of the area and the growing demand for healthcare services this sector will grow as the population grows with it. 

Business Growth In Haywards Heath 

Haywards Heath has a strong business scene, In the last year alone 700 new businesses were registered in Haywards Heath. With a positive opening-to-closing rate as only 510 businesses were closed down in that same time frame. 

The town thrives on the activity of Small and Medium Sized Enterprises (SMEs), which are key to local job creation and economic stability in the area. The continued growth and diversity of Haywards Heath’s SMEs continue to grow and drive the economy. 

Opportunities in The Wider West Sussex Area

Opening up the lens a bit and looking at the wider area of West Sussex, we see the same trend including:

Growing Business Activity: From February to April 2024 alone, West Sussex saw a net increase of 545 businesses. Showing you the strength and resilience of the business environment in West Sussex.

Competitive Salaries: West Sussex offers its residents a median monthly salary of £2,583, giving the wider area more of a chance to reel in experienced work talent from nearby counties. 

Infrastructure Development: Ongoing infrastructure projects including road improvements and public transport are making it easier for businesses and customers to access West Sussex and connect to the broader market. 

Key Sectors In Haywards Heath

There are several key sectors contributing to the growth of Haywards Heath’s economy, but here are the main ones. 

Technology & Digital Services: Tech startups focused on software development, digital marketing and other digital solutions are on the rise, not only in Haywards Heath but in West Sussex in general, with it making up 19.8% of all businesses. 

Real Estate: With steady demand for housing the real estate sector is a big contributor to the local economy, with the Gross Value Added (GVA) for real estate activities rising 2.4% since 2019, showing a recovering trend post-pandemic. With an increasing number of housing developments and a high percentage of owner-occupied homes at around 72%. 

Health and wellbeing industry: Health and wellbeing industries are becoming more prevalent in Haywards heath as people become more health conscious, with it making up 10% of all business in West Sussex, driven by demographic trends that show a rising proportion of elderly occupants this shift will only allow the health sector to grow even more. 

However, despite the growth in the economy in Haywards Heath, businesses still face challenges. 

Business Challenges in Haywards Heath*

Skills Shortages: Like many areas, Haywards Health’s workforce has a gap in the jobs that need to be filled and the skills of the prospects filling them. A recent survey by GlobalData showed that 43% of healthcare professionals identified the lack of specialised skills and talents to digital transformation in their field. 

The same goes for the technology sector, with a lack of skills in up-and-coming technologies such as AI. 

Competition from Larger Towns: Haywards Heath’s proximity to bigger towns like Brighton and Crawley means local businesses face competition not only from within the town but also from the surrounding towns that have more resources or a larger customer base.

Government Support and Local Initiatives 

Government support is key to the Haywards Heath business community with resources and programmes to aid growth and sustainability.

West Sussex District Council Support Programmes: These programmes offer funding, business planning support and training programmes to upskill employees and support business growth. 

Business & IP Centre (BIPC) Sussex: A great resource for entrepreneurs, the BIPC provides market research, business databases and expert advice to help businesses protect their intellectual property and make informed decisions.  

Networking Opportunities: Local businesses host regular networking events where business owners can connect, share knowledge and form partnerships that benefit the wider community.

Community Support Initiatives 

Strong community support is essential for building a collaborative and thriving business environment. 

Local Business Associations: Groups like the Federation of Small Business (FSB) provide resources and networking events tailored to small business owners across Sussex, creating a golden opportunity for small businesses to connect and grow. 

Workshops and Training Programs: Local councils and educational institutions frequently offer workshops that focus on skills development for entrepreneurs, ensuring they have the tools they need in order to succeed. 

Grants and Funding Opportunities: Local governments provide grants to help startups and small businesses expand, adopt new technologies and drive innovation in the region. 

Curve Accountancy Supports Haywards Heath’s Growing Business Community

For businesses in Haywards Heath managing finances is key to growth and navigating challenges. Curve Accountancy based in Crawley offers tailored accounting and financial advice to help local businesses succeed. With a range of remote services, Curve Accountancy provides Haywards Heath businesses with real-time financial information and strategic guidance without the need for on-site visits.

Curve Accountancy’s services for Haywards Heath businesses include:

Tax Efficiency and Compliance: By providing proactive tax planning Curve helps clients reduce their tax liabilities and stay compliant, taking tax season from being one of the most stressful times of the year to an advantage. 

Cash Flow Management: Curve Accountancy works with businesses to monitor cash flow so they can stay financially stable and plan for growth. Curve works with clients closely, we manage the cash so you can focus on what you do best. 

Financial Education and Remote Support: Through digital tools and online consultations Curve ensures Haywards Heath businesses have continuous access to financial expertise to make informed decisions and adapt to economic changes, regardless of where you are. 

Curve Accountancy’s support for Haywards Heath’s business community goes beyond accounting, helping local entrepreneurs and SMEs with the financial guidance they need to grow in a competitive yet thriving space.

Conclusion: A Bright Future For Business In Haywards Heath

Despite the challenges, Haywards Heath offers a dynamic business environment filled with opportunities for growth and success. With support from local government initiatives, community organisations and resources like Curve Accountancy, local entrepreneurs and SMEs can effectively navigate the business landscape of Haywards Heath. 

As Haywards Heath’s business landscape changes, with the growth of technology, health and wellness and digitalisation. Businesses that innovate and collaborate will succeed. Whether you’re an established business owner or a new entrepreneur, now is the time to explore Haywards Heath’s opportunities, use local resources, invest in your team and adopt sustainable practices to thrive in this lively economy.