Overview
Cambridge showcases a dynamic economic landscape, characterised by a strong presence in the ‘Professional, scientific, and technical activities’ sector, along with notable growth in technology-oriented sectors. The city’s diverse economic structure is evidenced by significant activities in trade, real estate, and manufacturing. A healthy mix of small and medium-sized enterprises (SMEs) and scale-ups indicates a robust entrepreneurial ecosystem.
Employment and Business Growth
- Total Employees: Cambridge employs 148,136 individuals, a sign of a vibrant job market. The city witnessed a growth in employment, with 1,609 companies reporting an increase in their workforce.
- Employee Growth Rate: The percentage growth in employees is 9.30%, reflecting a positive trend in job creation.
- Top Sectors for Employment: The ‘Professional, scientific and technical activities’ sector leads, employing a significant portion of the workforce, followed by ‘Wholesale and retail trade’ and ‘Information and communication’. This diversity suggests a balanced and resilient economic structure.
Sector Dynamics
- Top Sectors by Company Count: The leading sectors in terms of company count include ‘Professional, scientific and technical activities’, ‘Wholesale and retail trade’, and ‘Information and communication’. This highlights Cambridge’s strength in knowledge-based and tech industries.
- Rising Sectors: Emerging sectors like ‘Analytics, insight, tools’, ‘SaaS’, and ‘Pharmaceuticals’ are gaining prominence, indicating a shift towards high-tech and innovative industries.
Business Continuity
- Company Cessations: Cambridge saw 1,408 companies cease operations, which is a critical metric for assessing the business environment’s volatility.
- New Companies (Last 2 Years): The city welcomed 2,902 new companies in the last two years, demonstrating a strong entrepreneurial spirit and a conducive environment for new business ventures.
- Scale-ups: With 52 scale-ups, Cambridge shows a healthy progression of businesses from start-ups to more established entities.
- SMEs and Exporters: The presence of 7,866 SMEs and 215 exporters underlines the city’s robust small business sector and its integration into global markets.
Diversity and Innovation
- Gender Diversity in Leadership: Cambridge shows a moderate level of gender diversity in business leadership, with 23.68% female directors and 18.06% female founders.
- Innovation Indicators: With 5006 patent owners and 70 grantees, Cambridge demonstrates strong innovative capabilities, crucial for long-term economic sustainability.
Conclusion
Cambridge’s economic health is characterized by a thriving employment market, diverse sectoral engagement, and a strong inclination towards technology and innovation. The city’s economic landscape is bolstered by a mix of SMEs and scale-ups, contributing to its resilience and growth potential. However, the company cessation rate and gender diversity in leadership positions are areas for potential improvement.