Overview
Peterborough presents a dynamic economic landscape with a workforce of 102,104 employees. The city shows a diverse range of sectors, including significant activities in wholesale, retail trade, and repair of motor vehicles and motorcycles. The trend in sectors suggests a robust and varied economic base. However, there have been no IPOs recently, and employee growth is moderate at 10.73%. The data also indicates a gender gap in founding and directorship roles, with a lower representation of women.
Employment and Business Growth
- Total Employees: Peterborough employs 102,104 individuals. The city has experienced a growth rate of 10.73% in employment, indicating a healthy and expanding job market.
- Top Sectors: Key sectors include wholesale/retail trade (17.76%), transportation (11.67%), professional/scientific activities (11.4%), real estate (10.23%), and administrative services (10.02%). These sectors form the backbone of the local economy.
- Company Raisers: Notable growth is seen in ‘Other software’ and ‘Other business/professional services,’ suggesting a burgeoning tech and professional services scene.
Business Continuity
- Company Cessations: Peterborough has 1785 companies ceasing operations, a significant number, indicating a challenging business environment or market transitions.
- New Companies: The city has 2759 new companies in the past two years, highlighting a vibrant entrepreneurial spirit.
- Scaleups: 63 scaleup companies contribute to the economic dynamism, showing a promising environment for business growth.
Conclusion
Peterborough’s economy is characterised by a diverse sectorial base with strong activities in trade, transportation, and professional services. The city shows a healthy employment growth rate and a vibrant new business scene, despite a significant number of company cessations. However, it faces challenges in gender diversity in leadership roles and business sustainability.