Overview
Cheshire West and Chester exhibit a diverse economic structure with significant activities in professional, scientific, technical, and retail sectors. The region has experienced a notable increase in employment and business growth, with a particular emphasis on sectors such as software-as-a-service (SaaS) and internet platforms.
Employment and Business Growth
- Total Employees: Cheshire West and Chester boasts 147,734 employees, with an impressive growth of 380 employee raisers indicating a positive trend in job creation.
- Top Sectors by Company Count: The leading sectors include professional, scientific and technical activities (3,990 companies), wholesale and retail trade/repair of motor vehicles and motorcycles (2,455 companies), and construction (2,087 companies). These sectors form the backbone of the local economy.
- Top Sectors by Growth: Sectors showing the most growth are SaaS, internet platforms, and other business/professional services. This suggests a shift towards a more digital and service-oriented economy.
- Percentage Employee Growth: The region has seen a 16.44% growth in employment, indicating a robust and expanding job market.
Business Continuity
- Company Cessations: There are 26,649 companies that ceased operations, which might indicate market consolidation or competitive pressures in certain sectors.
Sector Dynamics
- New Companies in Last 2 Years: The region has witnessed the inception of 4,993 new companies over the last two years, showing vibrant entrepreneurial activity.
- Small and Medium-Sized Enterprises (SMEs): With 16,190 SMEs, the region has a strong base of small and medium businesses, crucial for economic resilience and innovation.
- Exporters and Foreign Parent Companies: There are 482 exporters and 559 companies with foreign parentage, indicating significant international business engagement.
Innovation and Investment
- Fundraisings and Patent Owners: There have been 23 fund-raisings and 758 patent owners, showcasing the region’s focus on innovation and research & development.
- Number of Scaleups: 129 scaleups reflect a dynamic business environment where companies are growing rapidly.
Diversity in Leadership
- Gender Distribution Among Founders: 13.58% of founders are female, 84.57% male, highlighting a gender gap in entrepreneurship.
- Gender Distribution Among Directors: 28.62% female directors and 66.75% male directors, indicating a similar trend in corporate leadership.
Conclusion
Cheshire West and Chester display a robust and diverse economy, with significant growth in employment and a dynamic entrepreneurial environment. The shift towards digital and service-oriented sectors, combined with the strong presence of SMEs and international businesses, positions the region well for future economic resilience and growth.