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

Analysis Report: Economic and Business Activity in Cannock Chase

Overview

Cannock Chase, a locality known for its diverse economic landscape, demonstrates a vibrant mix of industrial sectors with a total of 42,958 employees. The area shows a commitment to business growth and innovation, as indicated by various economic indicators. However, it also faces challenges, such as company cessations and a gender gap in business leadership.

Employment and Business Growth

  • Total Employees: Cannock Chase employs 42,958 individuals. The employee growth rate is 9.14%, reflecting a healthy job market.
  • Top Sectors by Company Numbers: Construction (18.08%), Wholesale/Retail Trade (13.23%), Professional/Scientific Activities (11.54%), and Administrative Services (11.00%) dominate the business landscape.
  • Sector Dynamics: Notably, there are no sectors with a significant rise in the number of companies, suggesting a stable but potentially stagnant market in terms of new sector emergence.
  • Scaleups: The presence of 27 scaleups indicates a nurturing environment for rapidly growing companies, a positive sign for future economic expansion.

Business Continuity

  • Company Cessations: Data on company cessations is not provided, which is a critical area to monitor for assessing business sustainability.
  • New Companies: 1,577 new companies emerged over the last two years, indicating a dynamic entrepreneurial environment.
  • SMEs and Exporters: With 4,494 SMEs and 189 exporters, the local economy shows a strong backbone of small and medium-sized enterprises contributing to both local and international markets.
  • International Influence: 150 companies with foreign parentage and 54 fundraisings highlight Cannock Chase’s integration into the global business network.

Business Leadership and Innovation

  • Gender Diversity in Leadership: Founders show a gender split of 13.33% female, 80% male, and 6.67% unknown. Directorship roles are 25.43% female, 72.14% male, and 2.43% unknown, indicating a gender gap in business leadership.
  • Age Distribution of Directors: Most directors fall in the 50-60 age range (29.58%), followed by those over 60 (23.65%). This suggests experienced leadership but may also point to a need for younger entrepreneurial perspectives.
  • Innovation Indicators: While there are no patent owners or grantees, the presence of 360 companies with young directors indicates a budding potential for innovation.

Conclusion

Cannock Chase exhibits a robust and diverse economic landscape with significant growth in employment and the emergence of new companies. However, challenges such as a lack of sectoral growth drivers and a gender disparity in leadership positions need to be addressed. The presence of experienced business leadership, alongside budding young directors, sets a promising stage for future innovation and economic resilience.

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