Overview
The economic landscape of Ards and North Down reveals a diverse business ecosystem. Key sectors include wholesale and retail trade, professional services, real estate, and construction, contributing significantly to the area’s employment and economic activities. There’s a notable balance in gender representation among founders and directors, and a small yet significant presence of young company directors.
Employment and Business Growth
- Total Employees: 23,200. The region shows a promising trajectory in employment, with a notable increase in the number of employees.
- Employee Growth Rate: 8.01%. This growth rate is indicative of a healthy economic environment, fostering job creation.
- Total Employers Who Increased Employment: 246. This number suggests a dynamic job market with several companies contributing to employment growth.
- Top Sectors for Employment Growth: Wholesale and retail trade, professional services, and construction are leading sectors. Their growth indicates a robust and diverse economic base.
Business Dynamics
- Number of IPOs: 0. The absence of IPOs suggests a focus on private or smaller scale businesses.
- Number of Scaleups: 21. A moderate number of scaleups indicate a nurturing environment for business expansion.
- Total Number of Companies: 5,271. This number reflects a thriving business community.
- New Companies (Last 2 Years): 1,143. A high rate of new company formation indicates a vibrant entrepreneurial spirit.
- Small and Medium Enterprises (SMEs): 4,028. SMEs form the backbone of the local economy, providing stability and diversity.
Sectorial Insights
- Top Sectors by Number of Companies: Wholesale/retail trade, professional services, real estate, and construction. These sectors dominate the economic landscape, highlighting key areas of business activity.
- Top Sectors Showing Growth: Wholesale, advertising and branding services, agriculture, and food and drink processing. These sectors demonstrate emerging opportunities and economic diversification.
Business Continuity
- Company Cessations: 383. This number is relatively low, indicating a stable business environment.
- Company Attrition Rate: 7.27% (calculated from total companies and cessations). This rate is within a manageable range, suggesting a healthy business ecosystem.
Leadership and Diversity
- Percentage of Female Founders: 28%. This shows a notable presence of women in entrepreneurship.
- Percentage of Male Founders: 70%. Men dominate the founder landscape, but there’s a balance.
- Gender Diversity in Directors: 28.14% female and 68.02% male. A similar trend is observed in company leadership.
- Age Distribution of Directors: Majority are above 40, indicating experienced leadership.
Innovation and Growth Indicators
- Number of Patent Owners: 4. This number, though small, indicates some level of innovation.
- Number of Grantees: Data not provided.
Conclusion
Ards and North Down’s economic health is characterized by a diverse business landscape, steady employment growth, and a vibrant entrepreneurial spirit. The dominance of traditional sectors like wholesale, retail, and construction is complemented by emerging sectors showing growth. The leadership shows a reasonable gender balance, with a skew towards experienced directors.