Overview
Bromsgrove’s economic landscape is characterised by a robust mix of sectors, notably professional, scientific, and technical activities, along with administrative, construction, and retail. The area has witnessed significant employment growth, with a total of 52,516 employees, and a notable increase in new companies over the last two years.
Employment and Business Growth
- Total Employees: 52,516. The area has seen an increase of 208 employees across various sectors, indicating steady job growth.
- Percentage Employee Growth: 8.86%. This signifies a healthy growth trajectory for the local economy.
- Number of Scaleups: 45. This highlights a substantial number of businesses experiencing rapid growth, contributing to the overall employment surge.
Sector Dynamics
- Top Sectors by Company Count:
- Professional, scientific, and technical activities (1,180 companies, 14.45%)
- Administrative and support service activities (1,142 companies, 13.98%)
- Construction (899 companies, 11.01%)
- Wholesale and retail trade (833 companies, 10.20%)
- Real estate activities (720 companies, 8.81%)
- Top Sectors with Employment Increase: Sectors like machinery, other manufacturing and engineering, distribution, waste management services, and music are emerging as significant contributors to employment growth.
Business Continuity
- Company Cessations: There are 22880 companies in total, with 791 having ceased operations. This indicates a certain level of business volatility, though it is balanced by the influx of new companies.
- New Companies in Last 2 Years: 1,898. This influx of new businesses demonstrates a dynamic and evolving business environment in Bromsgrove.
Diversity and Innovation
- Founders’ Gender Distribution: 10% female founders, 90% male founders. This shows a gender disparity in business founding.
- Directors’ Gender Distribution: 29.05% female directors, 67.16% male directors. There’s a higher female representation at the director level compared to founders.
- Patent Owners and Grantees: 96 patent owners and 4 grantees, indicating a modest level of innovation and intellectual property creation.
Conclusion
Bromsgrove’s economic and business activities present a healthy and dynamic picture with significant growth in employment and new businesses. The area shows a diverse range of sectors contributing to economic vitality, although there is room for improvement in gender diversity among founders. The presence of scaleups and a consistent number of patent owners suggest an environment conducive to both growth and innovation.