Overview
Dudley’s economic landscape, marked by a diverse range of sectors, reflects a dynamic business environment. The city boasts 102,400 employees, with a notable employee growth rate of 4.78%. Key sectors such as wholesale, retail trade, construction, and professional services dominate, while emerging sectors show promising growth. The balance between established industries and new entrants indicates a robust and evolving economy.
Employment and Business Growth
- Total Employees: Dudley has 102,400 employees, indicating a strong workforce.
- Employee Growth Rate: The growth rate of 4.78% suggests a positive trend in job creation.
- Top Sectors by Company Numbers: Wholesale/retail trade and construction lead, followed by professional and technical activities.
- Top Sectors by Growth: Emerging sectors like other retail, machinery, and various banking services show growth, hinting at economic diversification.
Business Continuity
- Company Cessations: The data on company cessations was not provided, highlighting an area for future data collection to better understand business sustainability in Dudley.
Sector Dynamics
- Leading Sectors: Wholesale/retail trade, construction, and professional services are the leading sectors, showcasing Dudley’s traditional economic strengths.
- Emerging Sectors: Sectors like consumer banking and materials technology are emerging, reflecting a shift towards a more diverse and modern economy.
Company Trends
- Number of Companies: With 20,255 companies, Dudley exhibits a vibrant business landscape.
- New Companies in 2 Years: 5,137 new companies in the last two years demonstrate significant entrepreneurial activity.
- SMEs and Exporters: 15,020 SMEs and 574 exporters highlight the city’s strong small business base and international trade involvement.
- Companies with Foreign Parentage: 307 companies, indicating foreign investment and global business ties.
Innovation and Growth
- IPOs and Scaleups: No IPOs but 99 scaleups suggest a focus on growing existing businesses rather than public offerings.
- Fundraisings and Patents: 7 fundraisings and 385 patent owners show a culture of innovation and investment in intellectual property.
Diversity in Leadership
- Founders Gender: 13.92% female founders and 82.28% male founders, with 3.80% unknown.
- Directors Gender: 26.24% female and 70.35% male directors, with 3.41% unknown.
- Age Distribution of Directors: A wide age range, with a notable presence of directors above 50 years, indicating experienced leadership.
Conclusion
Dudley’s economic health is robust, marked by a diverse business landscape, steady employment growth, and a strong base of SMEs and exporters. The city’s shift towards emerging sectors alongside traditional strengths suggests a dynamic and evolving economy. However, there’s room for improvement in gender diversity among business leaders and deeper insights into business continuity.