Overview
Tewkesbury exhibits a diverse economic profile with strengths in various sectors. The professional, scientific, and technical activities sector leads, followed by construction, and trade/repair of motor vehicles and motorcycles. The town shows a healthy balance of established and emerging businesses, indicating a dynamic local economy.
Employment and Business Growth
- Total Employees: Tewkesbury employs 61,076 individuals, reflecting the town’s robust economic activity.
- Employee Growth: The 7.6% employee growth rate underscores a positive trend in job creation.
- Top Sectors: Leading sectors include professional, scientific, and technical activities (16.6% of companies), construction (11.95%), and wholesale/retail trade (11.57%). These sectors are pivotal in driving the town’s economic engine.
- Top Sectors Raisers: Emerging sectors such as ‘Other software’ and ‘Analytics, insight, tools’ indicate a shift towards technology-oriented businesses.
Business Continuity
- Company Cessations: Tewkesbury shows a significant number of businesses ceasing operations (573), which may indicate competitive pressures or market changes.
- Scaleups: The presence of 41 scaleups is a positive sign, reflecting the town’s capacity to support business growth.
- New Companies: With 1,315 new companies in the last two years, Tewkesbury shows a vibrant start-up ecosystem.
- SMEs and Exporters: A substantial number of SMEs (5,200) and exporters (285) highlight the town’s entrepreneurial spirit and global outreach.
Gender Diversity
- Founders Gender: The gender distribution among founders shows 16.67% female and 83.33% male, indicating a gender gap in entrepreneurship.
- Directors Gender: Female representation among directors is 27.7%, while males represent 68.92%. This suggests some progress in gender diversity, but also room for improvement.
Company Age and Innovation
- Young Companies and Directors: 192 companies have young directors, reflecting a new generation of business leadership.
- Patent Owners and Grantees: With 630 patent owners and 3 grantees, innovation seems to be a notable aspect of the local business landscape.
Conclusion
Tewkesbury’s economic landscape is characterised by a strong and diverse sector presence, significant new business growth, and a positive trend in employment. While there are challenges in business continuity and gender diversity, the town shows promising signs of innovation and entrepreneurial dynamism.