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

Analysis Report: Economic and Business Activity in Aberdeenshire

Overview

Aberdeenshire exhibits a diversified and robust economic profile, with notable strengths in professional, scientific, and technical activities. The region supports a significant workforce of 68,415 employees, bolstered by 737 companies that have increased their employee count. The area’s economic fabric is enriched by a mix of traditional industries like agriculture and fishing, alongside modern sectors like technology and clean energy.

Employment and Business Growth

  • Total Employees: Aberdeenshire employs 68,415 individuals, showing a healthy employment market. The employee growth rate of 6.41% is a positive indicator of the region’s economic vitality.
  • Top Sectors: Leading sectors include professional, scientific, and technical activities (24.24%), administrative and support service activities (10.86%), and construction (10.12%). This diversified sector presence underpins a stable economic base.
  • Scaleups: The presence of 90 scaleup companies reflects a conducive environment for business growth and development, indicating the region’s potential for economic scaling.

Business Continuity

  • Company Cessations: Specific data on company cessations is not provided, but the existence of 12,614 companies, with 2,347 being new in the last two years, signals a dynamic business climate.
  • New Companies: 1,306 new companies highlight Aberdeenshire’s thriving entrepreneurial spirit and the ongoing generation of business opportunities.
  • SMEs and Exporters: The region is home to 9,911 SMEs and 371 exporters, underscoring the significant role of smaller businesses in the local economy and in international markets.

Sector Dynamics

  • Top Sectors with Employee Growth: Sectors like oil and gas, technology/IP-based businesses, and clean technology are witnessing growth, indicating a shift towards emerging and sustainable industries.

Innovation and Investment

  • Patent Owners and Fundraisings: Aberdeenshire hosts 545 patent owners and has recorded 8 fundraising events, illustrating a strong emphasis on innovation and the fostering of new business ideas.
  • Foreign Parent Companies: The presence of 178 companies with foreign parentage implies global economic ties and diverse business influences.

Diversity and Inclusion

  • Founders and Directors Gender Balance: The gender distribution among founders is 11.45% female and 87.02% male, showing a gender disparity in entrepreneurship. Directors have a higher female representation at 28.73%.
  • Young Directors: The region has a considerable number of young directors, especially in the 30-40 age bracket (14.25%), signifying the emergence of new business leadership.

Conclusion

Aberdeenshire’s economy is marked by a blend of traditional and modern industries, with strong growth in employment and business development. The region’s focus on sectors like agriculture, energy, and technology illustrates its adaptability and forward-thinking approach. Despite a notable gender gap in entrepreneurship, the increase in female directorship indicates gradual progress towards gender balance in leadership roles. Aberdeenshire’s economic outlook is promising, driven by innovation, diverse industries, and a flourishing SME sector.

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