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

Analysis Report: Economic and Business Activity in Causeway Coast and Glens

Overview

Causeway Coast and Glens’ economy is characterised by a diverse range of sectors, with a notable emphasis on Construction, Retail Trade, and Real Estate. There are 4,647 companies operating in the region, with a workforce of 23,228 employees. Despite no recent IPOs, there has been a significant employee growth rate of 9.90%. The council area shows a healthy mix of young companies and experienced directors, contributing to a dynamic business environment.

Employment and Business Growth

  • Total Employees: 23,228. The area has seen a healthy 9.90% growth in employment, indicating robust economic activity and potential job opportunities.
  • Top Sectors for Employment Growth: Not explicitly mentioned, but implied by the dominant sectors.
  • Number of Scale-ups: 37, signifying a moderate level of entrepreneurial activity and business expansion.
  • Total Number of Companies: 4,647, reflecting a diversified economic base.

Sector Dynamics

  • Top Sectors by Number of Companies: Construction (19.37%), Retail Trade (12.91%), Real Estate (9.32%), signifying a strong foundation in traditional industries.
  • Emerging Sectors: There are no specific sectors highlighted as rapidly growing, which suggests a stable rather than a rapidly shifting economic landscape.
  • Number of New Companies (Last 2 Years): 858, indicating a vibrant entrepreneurial environment.
  • Total Number of SMEs: 3,740, demonstrating the dominance of small and medium enterprises in the local economy.

Business Continuity

  • Company Cessations: Not specified, but 283 companies are reported as ‘dead,’ which may imply business closures.
  • Number of Company Deaths: 283, a figure that needs to be contextualized against the total number of companies and the rate of new company formation.

International and Innovation Indicators

  • Number of Exporters: 55, showcasing some level of international business engagement.
  • Number of Companies with Foreign Parent: 39, indicating international investment.
  • Number of Fundraisings: 26, a moderate level of investment activity.
  • Number of Patent Owners: 2, suggesting minimal innovation activity in patentable areas.

Governance and Leadership

  • Percentage of Female Founders: 17.14%, indicating a need for greater gender diversity in entrepreneurship.
  • Percentage of Female Directors: 28.50%, reflecting a moderately better but still imbalanced gender representation in corporate leadership.
  • Age Distribution of Directors: A broad range, with the highest percentage (33.47%) being directors over 60 years old, indicating experienced leadership in the business community.

Conclusion

Causeway Coast and Glens presents a stable and diverse economic environment with strengths in traditional sectors like Construction and Retail. The area’s robust SME presence and a reasonable rate of new company formation reflect a dynamic business landscape. However, there are areas for improvement, particularly in fostering innovation and enhancing gender diversity in business leadership.

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