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The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in Bromsgrove

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:
    1. Professional, scientific, and technical activities (1,180 companies, 14.45%)
    2. Administrative and support service activities (1,142 companies, 13.98%)
    3. Construction (899 companies, 11.01%)
    4. Wholesale and retail trade (833 companies, 10.20%)
    5. 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.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.