Overview
Breckland’s economic landscape is characterised by a diverse range of sectors, with a notable presence in Construction, Professional, Scientific, and Technical Activities, and Trade. The region has a total of 32,589 employees, indicating a vibrant labor market. A modest number of company raisers and a single IPO highlight a growing, albeit cautious, business environment. Gender representation in founding and directorial roles shows a male dominance, with female representation lagging behind. The age distribution of directors suggests experienced leadership, with a significant proportion over 40 years.
Employment and Business Growth
- Total Employees: 32,589. The region has witnessed a 5.67% growth in employee numbers, indicating a healthy job market.
- Company Raisers: 210 companies have raised employee numbers, signaling business expansion and economic vitality.
- Top Sectors with Increased Employment: Fashion, Nursing and Care Services, Clothing (including footwear and accessories), though they represent a tiny fraction of the total companies.
- IPOs: 1 IPO, reflecting a burgeoning but still cautious capital market.
- Scaleups: 49 companies identified as scaleups, showing significant business growth potential.
Sector Dynamics
- Top Sectors: Construction (15.06%), Professional, Scientific, and Technical Activities (14.07%), and Trade (13.4%). These sectors are the backbone of Breckland’s economy.
- Top Sectors with Company Growth: Fashion, Nursing and Care Services, and Clothing, indicating niche areas of growth.
Business Continuity
- Company Cessations: A total of 6781 companies have ceased operations, contrasting with the number of new companies.
- New Companies: 732 new companies in the past two years, demonstrating a dynamic but challenging business environment.
Gender and Age Dynamics
- Founders’ Gender: 13.46% female founders versus 86.54% male, showing significant gender disparity in entrepreneurship.
- Directors’ Gender: 28.21% female directors, still underrepresented compared to 69.25% male directors.
- Directors’ Age Distribution: A majority of directors are over 40, indicating experienced leadership.
Conclusion
Breckland displays a robust and diverse economic profile with strong sectors like construction and professional services leading the way. Employment growth is positive, but the high number of company cessations suggests a challenging environment. Gender disparity in leadership roles persists, and the majority of directors are experienced, likely contributing to business stability. Overall, the region shows potential for further economic development, with a need to address the challenges of business continuity and gender disparity.