Overview
Dumfries and Galloway presents a diverse and growing economic landscape. With a total of 25,033 employees, the region has experienced a notable rise in employment, underpinned by significant growth in various sectors. Key industries include wholesale and retail trade, construction, and professional activities, indicating a balanced mix of service-oriented and technical fields. The presence of SMEs and exporters, along with a modest but present activity in patent ownership and fundraising, suggests a dynamic business environment.
Employment and Business Growth
- Total Employees: 25,033. This figure shows a healthy employment market, with 72 companies reporting increased staffing levels. The 8.92% employee growth rate indicates robust economic activity and potential for further job creation.
- Sector Dynamics: The region is led by wholesale/retail trade and construction, both essential for local economic stability and growth. The presence of agriculture and technical sectors highlights a diverse economic base.
- Company Trends: A total of 4,294 companies with a substantial number of new companies (812) in the past two years. This trend signifies a vibrant entrepreneurial spirit and a conducive environment for new business initiatives.
Business Continuity
- Company Cessations: With 3903 companies ceased and 288 dead companies, there’s a need to investigate the challenges facing businesses, especially in sustaining long-term operations. This figure could indicate market saturation, economic shifts, or other external pressures.
Sector Specifics
- Top Sectors Raisers: Sectors like ‘Other retail’ and ‘Energy reduction technology’ showing growth, suggest emerging niches and potential areas for investment and development.
Company Demographics
- Gender Diversity in Leadership: The data shows 30.61% female directors, indicating a positive trend towards gender diversity in leadership roles. However, there’s still room for improvement to achieve gender parity.
- Age of Directors: A significant portion of directors (34.73%) are above 60 years, reflecting experienced leadership but also highlighting the need for youth inclusion in governance.
Innovation and Growth
- Patent Owners and Fundraisings: With 54 patent owners and 3 fundraisings, the region demonstrates modest innovation and investment activity, essential for long-term economic vitality.
Conclusion
Dumfries and Galloway’s economy is characterised by a diverse sectoral composition, robust employment growth, and a significant number of new businesses. Challenges remain in business continuity, indicating a need for supportive measures for sustained growth. The leadership demographics suggest experienced governance, with a growing trend towards gender diversity.