Overview
Chesterfield’s economic landscape presents a dynamic mix of traditional and emerging sectors. The total employment of 66,212 indicates a robust workforce. A notable feature is the variety in the top sectors, highlighting a diverse economic base. This diversity is critical for economic resilience and growth potential. The presence of sectors like professional, scientific, technical activities, and construction reflects a balanced mix of knowledge-intensive and labor-intensive industries.
Employment and Business Growth
- Total Employees: Chesterfield boasts 66,212 employees, a solid workforce base. The city has seen a commendable 8.27% growth in employment, indicating healthy economic expansion and job creation. This growth is essential for sustaining the city’s economic vitality.
- Employee Growth: 25 sectors have reported an increase in employment, showcasing widespread growth across various industries. This widespread growth is a positive sign of a healthy, multifaceted economy.
- Top Sectors: The leading sectors by company count include professional, scientific, and technical activities (822 companies), wholesale and retail trade (815 companies), and construction (655 companies). The prominence of these sectors signifies a strong presence of knowledge-based services and essential trade activities.
- Sectors with Rising Company Numbers: Notable sectors with increased company counts include agriculture and farming, SaaS, other supply chains, physical and virtual security services, and food and drink processing. These sectors, although smaller in scale, indicate emerging areas of economic activity and innovation.
Business Dynamics
- Number of Companies: Chesterfield is home to 5,460 companies, reflecting a healthy business ecosystem.
- New Companies in 2 Years: The addition of 1,153 new companies over two years showcases a vibrant entrepreneurial environment and a positive business creation rate.
- Scaleups: There are 45 scaleups, indicating a nurturing environment for business growth and the potential for these companies to contribute significantly to the local economy.
- SMEs and Exporters: With 4,019 SMEs and 221 exporters, Chesterfield shows a strong base of small and medium-sized businesses with international reach, vital for economic diversification.
- Foreign Parent Companies: 182 companies with foreign parentage highlight Chesterfield’s integration into the global business network, which can bring in diverse expertise and investment.
Innovation and Investment
- Fundraisings and Patent Owners: The presence of 112 patent owners and 3 fundraising events points to an environment conducive to innovation and investment, although there’s room for growth in attracting more venture capital and patent creation.
- Spinouts and Attendance: Despite no new spinouts, the attendance figures indicate ongoing engagement in business and community events, essential for networking and collaboration.
Governance and Leadership
- Gender Representation: Founders and directors show a gender disparity with 8.33% female founders and 25.54% female directors. This highlights a need for more inclusive leadership in Chesterfield’s business landscape.
- Age of Directors: The age distribution of directors, with the highest concentration between 50-60 years, suggests experienced leadership but also points to the potential for fostering younger leadership to bring fresh perspectives.
Business Continuity
- Company Cessations: The data shows no recent company cessations, indicating a stable business environment in Chesterfield.
- Companies in Distress: The absence of companies in distress is a positive sign, suggesting good health and resilience among the existing businesses.
Conclusion
Chesterfield’s economic and business activity reflects a thriving, diverse, and stable environment with growth potential. The city’s robust employment numbers, diverse sectoral presence, and entrepreneurial spirit are key strengths. However, there’s an opportunity to enhance innovation, venture capital attraction, and gender diversity in leadership roles. The economic landscape is poised for further growth, provided these areas receive adequate focus and investment.