Overview
Calderdale’s economic landscape shows a dynamic mix of sectors, with a notable emphasis on wholesale and retail trade. The city has a workforce of 72,280 employees, experiencing a growth with 138 companies reporting an increase in employees. The business environment is diverse, led by sectors such as professional services, construction, and administrative support, reflecting a balanced industrial mix. Despite no IPOs, there is a healthy growth rate of 7.26% in employment, indicating robust economic activity. SMEs and new companies contribute significantly to the business ecosystem, with a considerable number of young companies having young directors, signaling a vibrant entrepreneurial spirit.
Employment and Business Growth
- Total Employees: 72,280. The number of employees has grown, with 138 companies reporting an increase, indicating a positive employment trajectory.
- Sectors with Employment Growth: Top sectors experiencing growth include Analytics, Mobile Apps, SaaS, and Energy, suggesting a shift towards technology and innovation-driven industries.
- Percentage Employee Growth: 7.26%, a healthy rate reflecting the city’s dynamic business environment and potential for further economic expansion.
Sector Dynamics and Company Trends
- Top Sectors by Number of Companies: Wholesale/Retail Trade (2,479 companies, 17.74%), Professional Services (1,783 companies, 12.76%), Construction (1,654 companies, 11.84%), showing a diversified economic base.
- New Companies (Last 2 Years): 2,051 new companies have been established, indicating a thriving entrepreneurial environment.
- SMEs: 10,329 SMEs form the backbone of the economy, underlining the significance of small and medium-sized enterprises in Calderdale’s economic fabric.
Business Continuity
- Company Cessations: 1,260 companies have ceased operations, a figure that must be evaluated in the context of new business formations and overall economic health.
- Scale-ups: 78 businesses have scaled up, demonstrating the potential for growth and the supportive business environment in Calderdale.
Governance and Diversity
- Gender Diversity in Founders and Directors: Founders are 19.77% female and 80.23% male, while directors are 29.84% female and 66.81% male, highlighting areas for improvement in gender diversity.
- Young Companies with Young Directors: 911 companies, suggesting a vibrant, youthful entrepreneurial scene.
Conclusion
Calderdale presents a robust and diverse economic landscape, marked by a strong presence of SMEs and a variety of sectors. The healthy employment growth rate, alongside a significant number of new companies, highlights the area’s economic vitality. Challenges include improving gender diversity in leadership roles and managing business continuity amidst company cessations.