Overview
Charnwood’s economic landscape is characterised by a diverse range of sectors, with a significant emphasis on professional, scientific, and technical activities. The region shows a healthy balance between established industries and emerging sectors, as indicated by the presence of scale-ups and new companies. The data reflects a dynamic business environment, underscored by a steady growth in employment and business activities.
Employment and Business Growth
- Total Employees: Charnwood employs 77,511 individuals. The council has witnessed a moderate growth in employment, with a 7.51% increase in the employee count. This growth is a positive indicator of economic health and job creation.
- Employee Growth: 316 companies have reported an increase in the number of employees, signaling an expanding workforce and potentially a strong local economy.
- Scaleups: The presence of 62 scale-ups indicates a robust environment for business expansion and innovation within the region.
Sector Analysis
- Top Sectors: The leading sectors in Charnwood include ‘Professional, Scientific and Technical Activities’, ‘Wholesale and Retail Trade’, and ‘Construction’. These sectors are pivotal in driving the region’s economic activity.
- Sector Growth Drivers: Emerging sectors showing significant growth include ‘Software-as-a-Service (SaaS)’, ‘Analytics and Insight Tools’, and ‘Security Services’. These sectors represent the innovative edge of Charnwood’s economy.
Business Continuity
- Company Cessations: The data shows 1,011 companies ceased operations, which could indicate market challenges or normal business cycle turnover.
- New Companies: Over the past two years, 2,554 new companies were established, suggesting a vibrant entrepreneurial spirit and a conducive environment for new business ventures.
- Small and Medium Enterprises (SMEs): With 8,004 SMEs, the region demonstrates a strong backbone of small and medium-sized businesses, essential for economic resilience and diversity.
Leadership and Innovation
- Gender Representation in Founders: The gender distribution among founders is 15.63% female and 83.33% male, with a small percentage (1.04%) unknown. This indicates a significant gender gap in entrepreneurial leadership.
- Gender Representation in Directors: Among directors, 27.43% are female and 67.69% are male, showing a similar gender disparity in corporate leadership.
- Patent Owners and Fundraisings: The presence of 609 patent owners and 14 fundraising activities indicates a strong emphasis on innovation and growth in the business community.
Conclusion
Charnwood’s economic landscape is marked by a dynamic mix of traditional and emerging sectors, a growing workforce, and a vibrant entrepreneurial environment. The presence of scale-ups and new companies indicates a promising future for business innovation and expansion. However, the significant gender disparity in leadership roles and company cessations pose challenges that need addressing to ensure sustainable economic growth.