Overview
This analysis presents an in-depth look into the economic and business activity within North Lanarkshire, focusing on key aspects such as employment, sector dynamics, company trends, and demographics of company founders and directors.
Employment and Business Growth
- Total Employees: North Lanarkshire has a workforce of 78,778 employees. There has been a notable rise in the number of employees, with 575 enterprises reporting an increase in their workforce.
- Employee Growth Percentage: The percentage growth in employees is 9.33%, indicating a healthy expansion in the job market.
- Number of Scaleups: The region boasts 90 scaleup companies, highlighting a robust environment for business growth and development.
Sector Dynamics
- Top Sectors: The leading sectors in terms of company numbers are Construction (17.79%), Wholesale/Retail Trade and Repair of Motor Vehicles (14.24%), and Professional, Scientific and Technical Activities (11.51%).
- Sector Growth Leaders: Notably, sectors like Other Technology/IP-based Businesses and Pharmaceuticals are among the top sectors showing significant growth.
Company Trends
- New Companies (2 Years): There have been 3,654 new companies established in the past two years, out of a total of 2,030 new companies overall. This demonstrates a vibrant entrepreneurial spirit.
- Total Companies: The total number of companies in North Lanarkshire is 11,938.
- Small and Medium Enterprises (SMEs): There are 8,315 SMEs, forming the backbone of the local economy.
- Exporters and Companies with Foreign Parentage: The region has 205 exporters and 151 companies with foreign parent companies, indicating a degree of international business integration.
Business Continuity
- Company Cessations: The data reports 1,434 companies ceasing operations, which could be indicative of market challenges or economic shifts.
Founders and Directors Demographics
- Founders’ Gender: Male founders dominate the landscape with 82.93%, while female founders represent 16.26%.
- Directors’ Gender: The gender split among company directors shows 74.25% male and 23.44% female.
- Age Distribution of Directors: Directors are spread across age groups, with the majority in the 40-60 age bracket.
Conclusion
North Lanarkshire exhibits a dynamic and growing economic environment, with strong employment growth and a diverse range of sectors contributing to the local economy. The high number of SMEs and new companies indicates a fertile ground for entrepreneurship, despite the challenges reflected in company cessations. The demographic data reveals a gender disparity in the roles of founders and directors, with a significant male dominance. Overall, the region shows promising economic health with room for improvement in gender diversity and business continuity.