Overview
Blaenau Gwent presents a diverse economic landscape, marked by significant activity in sectors such as Construction, Wholesale/Retail Trade, and Professional Services. Despite no IPOs, the region shows promising signs of growth, particularly in the employment sector. The presence of a considerable number of new companies and SMEs indicates a dynamic business environment. The gender distribution among founders and directors highlights potential areas for increased diversity.
Employment and Business Growth
- Total Employees: 8,909 employees, with a notable 15.75% growth, indicating a positive trend in job creation. This growth is significant in the context of the local economy, reflecting an expanding workforce that supports various sectors.
- Top Sectors with Employee Increase: The top sectors experiencing growth include Construction, Wholesale and Retail Trade, and Professional Services. This diversification of growing sectors is healthy for the local economy, reducing reliance on a single industry.
- Number of Scale-ups: 13 scale-ups suggest an environment conducive to business growth and development.
Sector Dynamics
- Top Sectors by Number of Companies: Construction (294 companies), Wholesale/Retail Trade (269), and Professional Services (180) dominate the local economy. This diversity indicates a balanced economic structure with multiple strong industries.
- Top Sectors with Rising Companies: Management Consultancy, Machinery, Technology/IP-based businesses, Agriculture/Farming, and Manufacturing/Engineering are the sectors showing growth, demonstrating diversification beyond traditional industries.
Company Trends
- New Companies (Last 2 Years): 521 new companies, indicating a robust entrepreneurial environment and business confidence.
- Total Companies: 1,710 companies, a healthy number for a local economy, suggesting a strong base of established businesses.
- SMEs: 1,213 SMEs form the backbone of the local economy, driving innovation and employment.
International and Innovation Indicators
- Exporters: 53 exporters, showing international business engagement.
- Companies with Foreign Parent: 35, indicating foreign investment and global connections.
- Fundraisings: 2 instances, a potential area for growth.
- Patent Owners: 36, reflecting some degree of innovation within the local economy.
Demographic and Governance Insights
- Gender Distribution Among Founders: 15.79% female founders versus 84.21% male, highlighting a gender gap in entrepreneurship.
- Gender Distribution Among Directors: 25.23% female directors, showing a need for greater female representation in leadership roles.
- Age Distribution of Directors: A diverse age range with a higher concentration in the 50-60 age bracket, suggesting experienced leadership.
Conclusion
Blaenau Gwent’s economic landscape is marked by a growing workforce, diversification in key sectors, and a robust new business environment. The region’s engagement in various industries, from construction to technology, forms a resilient economic base. However, there’s room for improvement in areas such as gender diversity in leadership and innovation.