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

Analysis Report: Economic and Business Activity in Cornwall


Cornwall’s economic landscape presents a diverse range of sectors, with a significant focus on Construction, Professional, scientific and technical activities, and Trade. The region shows a notable trend in emerging high-tech sectors, such as Analytics, SaaS, and Mobile Apps. Despite not witnessing any recent IPOs, Cornwall has experienced a healthy 11.07% growth in employee numbers, indicating robust business growth. The presence of scale-ups and new companies suggests a dynamic entrepreneurial environment.

Employment and Business Growth

  • Total Employees: 132,409. The 11.07% growth in employee numbers signals a positive trend in job creation. This growth is likely driven by the dominant sectors and the rise of new businesses.
  • Employee Growth Drivers: 631 companies have increased their employee count, reflecting an expanding job market and business confidence in the region.

Sector Dynamics

  • Top Sectors by Company Numbers: Construction (13.7%), Professional/Scientific/Tech (13.59%), Trade (12.25%), Real Estate (8.5%), Accommodation/Food Service (8.46%). This diversity shows Cornwall’s balanced economic structure.
  • Emerging Sectors: Notable growth in sectors like Analytics, SaaS, and Internet platforms, indicating a shift towards technology-driven businesses.
  • Total Companies: 26,832. The region’s business landscape is vibrant and diverse.
  • New Companies (Last 2 Years): 3,073. A healthy rate of new business formation indicates an entrepreneurial spirit and opportunities for economic expansion.
  • SMEs and Exporters: 21,218 SMEs and 563 exporters. SMEs form the backbone of the economy, while the number of exporters reflects global business engagement.
  • Foreign-Owned Companies: 217. This demonstrates Cornwall’s attractiveness to international investors.

Innovation and Growth

  • Scaleups: 157. These high-growth companies are crucial for job creation and innovation.
  • Fundraisings and Patent Owners: 438 fundraisings and 28 patent owners. A strong indication of active investment and innovation in the region.

Diversity and Inclusion

  • Founders by Gender: 21.63% female, 76.97% male. There’s room for improving gender diversity among entrepreneurs.
  • Company Directors by Gender: 31.89% female, 64.44% male. Similar trends are observed in leadership positions.


Cornwall demonstrates a robust and diverse economic environment with strong growth in employment and business formation. The rise in high-tech sectors and scale-ups indicates a shift towards innovation-driven economy. However, there’s a need to enhance gender diversity in entrepreneurship and leadership roles.

Company foundations and cessations over time

Active companies over time

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