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The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in Aberdeen City

Overview

Aberdeen City shows a vibrant economic landscape, characterized by a significant presence in professional, scientific, and technical activities. The city’s employment scenario is robust, with a total of 206,762 employees and a noticeable growth in employment, indicated by 806 companies reporting an increase in their workforce. The city’s economic diversity is further highlighted by the growth in various sectors, particularly in manufacturing and energy-related industries.

Employment and Business Growth

  • Total Employees: Aberdeen City boasts 206,762 employees, with 806 companies reporting an increase in their workforce. This indicates a healthy job market and a dynamic economic environment. The percentage employee growth stands at 7.78%, reflecting a positive trend in employment opportunities.
  • Top Sectors: The leading sectors include professional, scientific, and technical activities (25.33% of companies), followed by administrative and support service activities (14.29%), and wholesale and retail trade (8.68%). This diversity suggests a well-rounded economic structure capable of sustaining various job markets.
  • Scaleups: With 107 scaleup companies, Aberdeen City demonstrates a strong environment for business expansion and growth, further contributing to the economic vitality of the city.

Business Continuity

  • Company Cessations: The report does not provide explicit data on company cessations. However, the presence of 13,977 companies, including 2,856 new companies in the last two years, suggests a dynamic business environment with ongoing new entries and possible exits.
  • New Companies: There are 1,589 new companies, indicating a vibrant entrepreneurial environment. This is a positive sign of business dynamism and economic renewal.
  • SMEs and Exporters: With 9,664 SMEs and 504 exporters, the city shows a strong base of small and medium enterprises contributing significantly to the local economy, including international trade.

Sector Dynamics

  • Top Sectors with Employee Growth: The sectors showing significant employee growth include other manufacturing and engineering, oil and gas, pharmaceuticals, and other technology/IP-based businesses. This growth reflects the city’s evolving industrial landscape, adapting to modern technological demands.

Innovation and Investment

  • Patent Owners and Fundraisings: Aberdeen City has a notable number of 824 patent owners and 35 fundraising events, indicating a strong focus on innovation and investment in new ideas.
  • Foreign Parent Companies: The presence of 634 companies with foreign parentage suggests a global integration of the local economy, bringing in diverse business practices and investments.

Diversity and Inclusion

  • Founders and Directors Gender Balance: Founders show a gender distribution of 12.92% female and 86.12% male, indicating a gender gap in entrepreneurship. In directorship, 23.39% are female, and 71.82% are male, reflecting similar trends but with slightly more female representation.
  • Young Directors: The city has a notable number of young directors, particularly in the 30-40 age range (14.14%), indicating a new generation of business leaders emerging.

Conclusion

Aberdeen City’s economic and business activities present a dynamic and diverse landscape. The city is experiencing significant employment growth, especially in sectors like professional services and technology. The presence of a strong SME base, along with a considerable number of new companies, highlights the city’s entrepreneurial spirit. However, there is a notable gender gap in business leadership roles. The economic health of Aberdeen City is on a positive trajectory, marked by innovation, investment, and a blend of traditional and emerging industries.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.