Overview
Stirling presents a dynamic and diverse economic landscape. The city boasts a total employment of 41,680, indicative of a robust labor market. The distribution of businesses across various sectors, led by professional, scientific, and technical activities, highlights a diversified economic base. Notably, there’s been a 13.41% growth in employee numbers, underlining a positive trend in employment opportunities. However, the lack of IPOs and a moderate number of scaleups (30) suggest areas for improvement in entrepreneurial activity.
Employment and Business Growth
- Total Employees: 41,680. The city has seen a significant rise in employment, with a 13.41% growth rate. This suggests a thriving job market, potentially driven by the city’s varied industrial sectors.
- Employee Growth: The rise in employee numbers is a positive indicator of business expansion and economic health.
Sector Dynamics
- Top Sectors: Leading sectors include professional, scientific and technical activities (774 companies, 16.02%), wholesale/retail trade (528 companies, 10.93%), and construction (516 companies, 10.68%). This variety indicates a balanced and robust economic structure.
- Growing Sectors: Sectors showing notable growth include other manufacturing/engineering and management consultancy services. This diversity in growing sectors suggests a dynamic and evolving business environment.
Business Continuity
- Company Cessations: 400 companies ceased operations, a figure that needs attention for future economic resilience planning.
- New Companies in 2 Years: 954 new companies have emerged over the last two years, a positive sign for entrepreneurial spirit and economic renewal.
Gender Representation in Leadership
- Founders: 17.14% female, 81.43% male, and 1.43% unknown. This indicates a gender gap in entrepreneurial initiatives.
- Directors: 28.99% female, 67.11% male, showing a similar trend of male dominance in leadership roles.
Innovation and Investment
- Patent Owners: 36 entities. This suggests a moderate level of innovation activity within the city.
- Fundraisings: 10 instances, indicating some level of investment and financial activity in the business sector.
Conclusion
Stirling’s economic landscape is marked by a strong employment growth, a diverse range of active sectors, and a significant number of new businesses. However, the city faces challenges in terms of business continuity, gender disparity in leadership, and limited IPO activities. The city’s economic health, while robust in certain areas, requires strategic initiatives to address these challenges and foster a more balanced and inclusive economic growth.