How does your district rank in Norfolk for the vibrance of its economy?
Rob Ward Photography
South Norfolk has ranked top in the county for dynamism amongst its businesses – but most of Norfolk comes in below the national average, according to a new study.
There was considerable disparity between the local authority and its near neighbours with Great Yarmouth and King’s Lynn and West Norfolk in particular performing badly.
Financial advisory firm Grant Thornton’s survey, which it has called the Vibrant Economy Index, found divided fortunes across the county in levels of prosperity, innovation, social equality, health and happiness.
South Norfolk was identified as best in the county, ranking 91 out of 324 placing it in the top 40% nationally. Norwich followed at 143, Breckland at 202, North Norfolk at 228, Broadland at 238, Kings Lynn and West Norfolk at 261 and Great Yarmouth at 300.
Norwich was the only area in Norfolk to rank above average for prosperity but the city fell down on “inclusion and equality” in which it was ranked 232nd.
When it came to environmental sustainability South Norfolk ranked in the top 30 across the UK but the rest of the county came in average or below.
Toby Wilson, director at Grant Thornton’s Norwich office, said the index aimed to focus on more than growth and prosperity to show the health of the economy, with an emphasis on inclusion and innovation.
He said: “The latest Index findings show a broad range of performance across Norfolk, with some areas performing strongly across multiple measures, while others fall below average.
“Norwich is the only local authority area in the county with above average levels of prosperity but scores poorly on inclusion and equality.
Conversely Broadland performs well in this area at 70, but has below average levels of wealth.”
Looking at the most improved local authority areas in Norfolk since the index first began in 2013, North Norfolk has made the most progress, moving up 29 places over the five year period.
Mr Wilson said: “Creating a more vibrant, inclusive economy is not something that could – or should – be the sole responsibility of any one organisation or person. Making this vision a reality means we need to work together, pooling our resources and strengths to produce positive change that will benefit all.”