Introduction
The East Midlands region, encompassing a diverse range of councils, presents a unique landscape for business and economic analysis. This report delves into the aggregated data of all councils within this region, focusing on employment, sector performance, and other critical economic indicators. The aim is to provide a comprehensive overview of the region’s economic health and identify key areas for potential growth and improvement.
Population and Employment Overview
The East Midlands region is characterized by a varied demographic and economic profile, with a total population of approximately 4.34 million across all councils. Employment rates and business activities also vary significantly across the region, influencing the economic dynamics at the council level.
| Council | Number of Employees | Population | Employees per Capita |
|---|---|---|---|
| West Northamptonshire | 245101 | 425700 | 0.576 |
| North Northamptonshire | 142179 | 359500 | 0.396 |
| Nottingham | 176726 | 231589 | 0.763 |
| Leicester | 131990 | 235050 | 0.561 |
| Derby | 140393 | 160961 | 0.872 |
| Blaby | 155752 | 61510 | 2.533 |
| Charnwood | 77511 | 120578 | 0.643 |
| North West Leicestershire | 95004 | 63839 | 1.488 |
| Broxtowe | 82919 | 70417 | 1.178 |
| South Kesteven | 47337 | 83293 | 0.568 |
| Bolsover | 77728 | 50085 | 1.552 |
| Bassetlaw | 64590 | 70353 | 0.918 |
| Hinckley and Bosworth | 51236 | 68010 | 0.753 |
| Ashfield | 52321 | 78943 | 0.663 |
| Amber Valley | 37089 | 78127 | 0.475 |
| Rushcliffe | 46339 | 71962 | 0.644 |
| Harborough | 35228 | 56018 | 0.629 |
| South Derbyshire | 25670 | 67421 | 0.381 |
| Derbyshire Dales | 25788 | 41810 | 0.617 |
| East Lindsey | 30342 | 77586 | 0.391 |
| Melton | 28478 | 30411 | 0.936 |
| Lincoln | 26504 | 67586 | 0.392 |
| North East Derbyshire | 18639 | 59674 | 0.312 |
| Erewash | 30372 | 71002 | 0.428 |
| Gedling | 28333 | 71925 | 0.394 |
| High Peak | 19306 | 57102 | 0.338 |
| Mansfield | 28358 | 67393 | 0.421 |
| Newark and Sherwood | 48483 | 73332 | 0.661 |
| North Kesteven | 49019 | 68947 | 0.711 |
| South Holland | 35246 | 55272 | 0.638 |
| Chesterfield | 66212 | 64790 | 1.022 |
| Boston | 19148 | 41970 | 0.456 |
| Rutland | 10111 | 23003 | 0.439 |
| West Lindsey | 21777 | 55467 | 0.393 |
| Oadby and Wigston | 12339 | 34147 | 0.361 |
Business Dynamics
The region showcases a robust mix of established and emerging sectors. Notably, the ‘Professional, scientific and technical activities’ sector dominates in several councils such as Blaby and Charnwood, indicating a strong inclination towards high-skilled services. On the other hand, ‘Wholesale and retail trade’ remains a significant employer across many councils including Nottingham and Leicester, reflecting the region’s strong consumer market.
Sector Analysis
Emerging sectors such as ‘Internet platform’ and ‘Software-as-a-service (SaaS)’ are particularly prominent in councils like North West Leicestershire and Leicester, suggesting a shift towards digital and technology-driven industries. This transition is further evidenced by the presence of sectors like ‘Analytics, insight, tools’ in Nottingham, highlighting the region’s capacity for data-driven business models.
Scaleups and Growth
Scaleup activity, indicative of growing businesses reaching new heights, is notably high in councils such as Hinckley and Bosworth and North West Leicestershire. This trend is crucial for regional economic expansion and job creation. However, the region saw minimal IPO activity, with only a few councils like Derbyshire Dales and Hinckley and Bosworth reporting such events, pointing to an area for potential growth.
International and Export Dynamics
The region’s connectivity to global markets is evidenced by its number of exporters, particularly in councils like South Kesteven and North Kesteven. The presence of companies with non-UK ultimate parents in councils such as Leicester and Nottingham also underscores the region’s integration in the global economic network.
Investment and Innovation
Fundraising activities were robust in councils like Nottingham and Leicester, reflecting investor confidence in the region’s business environment. Innovation is also a key driver, with a significant number of patent owners located in councils such as North Northamptonshire and West Northamptonshire, highlighting a strong focus on research and development.
Conclusion and Recommendations
The East Midlands region displays a dynamic and diverse economic landscape with significant potential for further growth. To capitalize on this potential, it is recommended that councils focus on nurturing high-growth sectors such as digital technologies and enhance support for scaleups to fuel regional economic development. Additionally, fostering a more conducive environment for IPOs could also be beneficial.
Overall, the East Midlands holds a promising future, with strategic initiatives aimed at bolstering its economic strengths and addressing areas of improvement likely to yield substantial benefits for the region’s prosperity.