Overview
Bolsover, a local council area, exhibits a dynamic economic landscape. With a total of 77,728 employees and a 6.63% employee growth, it indicates a robust job market. The presence of 3073 companies, including 402 new companies in the last two years, suggests a thriving entrepreneurial environment. The diversity in sectors, led by wholesale/retail trade and professional activities, points to a balanced economy. However, the lack of IPOs and a modest number of scaleups (23) highlight potential areas for economic development.
Employment and Business Growth
- Total Employees: 77,728. The employee base grew by 6.63%, signifying a healthy job market.
- Employee Raisers: 150 companies increased employment, indicating a positive trend in job creation.
- Sector Dynamics: Top sectors include wholesale/retail trade (14.61% of companies), professional activities (12.27%), and construction (11.98%). The variety of sectors shows economic diversification.
- Top Sectors Raisers: Growth is seen in property/land development, construction, and supply chain sectors, suggesting these areas are key drivers of economic expansion.
Business Continuity
- Company Cessations: A total of 3757 companies ceased, indicating challenges in business sustainability.
- Scaleups: 23 scaleups, businesses that have shown significant growth, contribute to the economic dynamism but suggest room for more high-growth firms.
Innovation and International Trade
- Patent Owners and Grantees: 534 patent owners and 2 grantees indicate a moderate level of innovation activity.
- Exporters: 132 companies are engaged in exporting, showing international business involvement.
- Foreign Parent Companies: 73, which could signify healthy foreign investment or a reliance on external capital.
Leadership and Company Demographics
- Gender Representation in Founders: 14.29% female founders against 80.95% male, showing a significant gender gap in entrepreneurship.
- Gender Representation in Directors: 22.01% female to 75.95% male directors, indicating similar gender disparity in corporate leadership.
- Company Age: Predominantly mature companies, with 34.93% between 50-60 years, hinting at a need for more youthful entrepreneurial ventures.
Conclusion
Bolsover’s economy is characterised by its diverse sector representation and consistent employment growth. However, areas like innovation, gender diversity in leadership, and fostering young companies need attention. The high number of company cessations and the absence of IPOs point towards potential economic vulnerabilities that require strategic interventions.