Overview
Bradford’s economic landscape reveals a diverse array of sectors with significant activity in wholesale and retail trade, professional services, and construction. The city shows a healthy balance between established industries and emerging sectors, indicating a dynamic business environment. Despite the absence of IPOs, consistent growth in employee numbers and the presence of a significant number of new companies suggest a resilient and evolving economy.
Employment and Business Growth
- Total Employees: 535,365. Bradford has seen a substantial workforce, with a notable 10.48% employee growth, indicating robust economic development.
- Companies with Increased Employment: 282. This reflects the city’s ability to sustain and grow its business operations across various sectors.
- Top Sectors by Number of Companies:
- Wholesale and Retail Trade/Repair of Motor Vehicles: 6,572 companies (20.46%)
- Professional, Scientific and Technical Activities: 3,367 companies (10.48%)
- Construction: 2,974 companies (9.26%)
- Top Sectors with Increasing Companies: Other Retail, Distribution, Wholesale, Other Consumer Goods, Chemicals. Each sector saw a rise in the number of companies, albeit modest in absolute terms.
Business Continuity
- Company Cessations: 4,070. While this figure may seem high, it is typical in dynamic economies where business turnover can signify both market challenges and opportunities for new entrants.
- Scale-ups: 168. This demonstrates a healthy environment for business growth and scalability.
- New Companies (Last 2 Years): 10,923. This high number of new companies highlights Bradford’s attractiveness for entrepreneurship and business start-ups.
- Small and Medium Enterprises (SMEs): 21,509. SMEs form the backbone of Bradford’s economy, contributing significantly to employment and innovation.
- Exporters: 712. A modest but important segment, indicating global reach and competitiveness of Bradford’s businesses.
- Companies with Foreign Parentage: 414. This reflects Bradford’s integration into the global economy and its ability to attract foreign investment.
- Fundraisings: 7. This indicates ongoing investment activity, essential for business growth and innovation.
- Patent Owners: 406. A robust number, indicating a strong focus on innovation and intellectual property.
Diversity and Inclusion
- Female Founders: 13.24%. This shows a need for increased participation of women in entrepreneurship.
- Male Founders: 83.09%. Dominant gender in business founding.
- Female Directors: 24.54%. Indicates progressive, yet still improvable gender diversity in corporate leadership.
- Male Directors: 70.77%. Predominant gender in board positions.
- Age Distribution of Directors:
- Less than 20 years: 0.27%
- 20-30 years: 8.97%
- 30-40 years: 20.67%
- 40-50 years: 25.34%
- 50-60 years: 23.60%
- Greater than 60 years: 20.47%
Conclusion
Bradford presents a vibrant and diverse economic landscape with significant activity in traditional and emerging sectors. The city’s ability to attract new businesses and sustain employee growth, along with a significant number of SMEs and scale-ups, speaks to its resilience and adaptability. However, areas such as gender diversity in entrepreneurship and leadership, and innovation metrics like patent ownership, indicate room for further growth and development.