Overview
East Cambridgeshire presents a dynamic economic landscape, marked by a substantial workforce, diverse sectoral activities, and notable business growth. The region, with 43,823 total employees, demonstrates a strong presence in varied sectors, notably in professional, scientific, and technical activities. However, the gender diversity in founding and directorial positions shows significant room for improvement, particularly in increasing female participation.
Employment and Business Growth
- Total Employees: East Cambridgeshire employs 43,823 individuals. This workforce is supported by 19 companies that have shown significant employment growth.
- Employee Growth: The region has experienced a 5.56% growth in employment, indicative of an expanding economic environment.
- Top Sectors: Dominant sectors include professional, scientific and technical activities (790 companies, 16.29%), construction (634 companies, 13.07%), and wholesale/retail trade (587 companies, 12.11%).
- Sector Growth Drivers: Sectors such as consumer banking, technology/IP-based businesses, and food and drink processing are emerging as significant growth drivers.
Business Continuity
- Company Cessations: There were no reported company cessations, indicating stable business continuity in the region.
- New Companies (2 Years): 851 new companies were established in the past two years, showing vibrant entrepreneurial activity.
- Total Companies: The region hosts 4,849 companies, reflecting a diverse and robust business landscape.
- Small and Medium Enterprises (SMEs): A total of 3,617 SMEs form the backbone of the local economy, vital for employment and innovation.
Gender and Age Diversity in Leadership
- Founders Gender: Only 6% of founders are female, with a dominant 92% male representation. This points to a significant gender gap in entrepreneurial ventures.
- Directors Gender: Female directors constitute 27.51%, while male directors make up 67.92%. This indicates a need for greater gender balance in leadership roles.
- Age Distribution of Directors: Young directors (under 30 years) are relatively scarce (3.46%), with the majority of directors aged over 40 (78.73%).
Innovation and Business Dynamics
- Patent Owners and Grantees: The region has 247 patent owners and 7 grantees, underscoring a focus on innovation.
- IPOs and Scaleups: No initial public offerings (IPOs) were reported, but there are 34 scaleups, indicating growing businesses ready for expansion.
- Exporters and Foreign Parent Companies: With 191 exporters and 120 companies with foreign parentage, the area demonstrates strong international business ties.
Conclusion
East Cambridgeshire’s economy is characterised by a healthy mix of traditional and emerging sectors, with a notable emphasis on professional and technical services. The area’s stable employment growth and vibrant SME sector are promising signs of economic health. However, the disparity in gender representation in leadership roles and the low number of young directors highlight areas for potential improvement. The region’s commitment to innovation is evident in its patent ownership and international business engagements.