Overview
Pembrokeshire’s economic landscape reveals a diverse mix of industries with notable activities in professional, scientific, and technical activities, construction, and trade. The region demonstrates a stable growth in employment and business activities, underpinned by a variety of sectors. A significant emphasis on gender diversity in business leadership is observed, although there is a skew towards male dominance.
Employment and Business Growth
- Total Employees: Pembrokeshire employs 21,985 individuals. The annual employee growth rate stands at approximately 7.98%, indicating healthy employment dynamics.
- Companies with Employment Increase: 24 companies reported an increase in employees, signifying a positive trend in job creation.
Sector Analysis
- Top Sectors by Company Numbers: Key sectors include professional, scientific and technical activities (745 companies, 13.3%), construction (742 companies, 13.25%), and wholesale/retail trade including motor vehicle repairs (694 companies, 12.39%).
- Rising Sectors: Sectors such as stone, other built environment, other manufacturing, apparel, and clean energy generation are emerging, though currently small in scale.
Company Dynamics
- Total Companies: There are 5,602 companies in Pembrokeshire.
- New Companies in Last Two Years: 1,193 new companies emerged, indicating a dynamic and entrepreneurial business environment.
- Small and Medium Enterprises (SMEs): SMEs number 4,518, forming the backbone of the local economy.
- Exporters and Foreign Parent Companies: There are 87 exporters and 23 companies with foreign parentage, suggesting international business engagement.
- Fundraising and Innovation Indicators: The region has 15 fundraisings, 4 patent owners, and 2 grantees, reflecting moderate innovation activity.
Business Continuity
- Company Cessations: There were 6766 total company cessations, with 534 in recent years. This figure highlights the challenges in sustaining business operations over time.
Leadership and Demographics
- Gender Diversity in Founders and Directors: Founders show 15.15% female and 84.85% male representation. Directors have 32.05% female and 64.32% male representation, indicating a gender gap in leadership.
- Age Distribution of Directors: Directors’ ages range widely, with the largest group above 60 years (34.95%), followed by those in the 50-60 age bracket (26.40%).
Conclusion
Pembrokeshire exhibits a robust and varied economic environment with strong sectoral diversity and a growing workforce. The region shows potential for further growth, particularly in emerging sectors. However, challenges in business continuity and gender diversity in leadership positions need to be addressed to ensure sustainable economic development.