Overview
Broxtowe’s economic landscape exhibits a dynamic mix of sectors with a focus on wholesale, retail trade, professional services, and construction. With 82,919 employees and a 10.46% growth in employment, the region shows a healthy economic expansion. The presence of diverse sectors, along with a modest number of scaleups and new companies, suggests a balanced yet evolving economic environment.
Employment and Business Growth
- Total Employees: 82,919 employees. The 10.46% employee growth rate indicates robust job creation, signifying an expanding economic base. This growth is supported by a mix of established and emerging sectors.
- Top Sectors by Employment Growth: Major contributors include wholesale/retail trade and repair (833 companies), professional/scientific/technical activities (770 companies), and construction (738 companies). These sectors are integral to the region’s economic resilience and diversification.
Sector Dynamics
- Top Sectors by Company Count: Wholesale and retail trade (833 companies), professional services (770 companies), and construction (738 companies) dominate. Their substantial presence underlines the region’s multifaceted industrial landscape.
- Sectors with Most Company Growth: Sectors like toys, games, sports equipment, medical devices, pharmaceuticals, and research tools/reagents show notable growth. Although they represent a smaller base, their growth indicates emerging industry trends and innovation in Broxtowe.
Innovation and Business Development
- Number of IPOs: 0. This suggests a focus on private enterprise and local business development over public market participation.
- Number of Scaleups: 32. The presence of scaleups indicates a nurturing environment for business expansion, a positive sign for economic resilience and innovation.
- Number of New Companies (Last 2 Years): 746. This number shows a healthy entrepreneurial climate, contributing to economic diversification.
Business Continuity
- Company Cessations: 571 companies. This figure, while indicative of market churn, must be balanced against the number of new and existing businesses for a complete picture.
Gender Representation
- Founders Gender Composition: 10.34% female, 89.66% male. This highlights a significant gender gap in entrepreneurship.
- Directors Gender Composition: 26.13% female, 68.79% male. Similar to founders, a gender disparity exists, though female representation is slightly higher among directors.
Conclusion
Broxtowe’s economic landscape is marked by a healthy mix of traditional and emerging sectors, robust employment growth, and a supportive environment for scaleups and new businesses. However, the region faces challenges in gender diversity among business founders and directors. Overall, Broxtowe shows promising signs of an adaptable and evolving economy.