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

Analysis Report: Economic and Business Activity in East Hertfordshire

Overview

East Hertfordshire showcases a dynamic economic landscape with a variety of sectors contributing to its growth. The data indicates a healthy mix of professional, scientific, and technical activities, alongside strong construction, administrative, and retail sectors. The presence of sectors like information and communication, real estate, and manufacturing further diversifies the economic base. The region’s employment figures are robust, supported by a significant number of scale-ups and new companies, indicating entrepreneurial vigour and business innovation.

Employment and Business Growth

  • Total Employees: East Hertfordshire employs 51,710 individuals. The 7.94% employee growth rate highlights a thriving job market. This growth is supported by 113 companies that have increased their workforce, reflecting a positive trend in employment opportunities.
  • Top Sectors by Company Numbers: The leading sector is ‘Professional, scientific and technical activities’, with 2,306 companies, followed by ‘Construction’ with 1,876 companies, and ‘Administrative and support service activities’ with 1,554 companies. These sectors form the backbone of East Hertfordshire’s economy.
  • Top Sectors by Company Growth: Sectors such as E-commerce and Internet platforms are emerging as significant growth areas, albeit from a smaller base. This indicates a shift towards digital and online business models.
  • Scaleups: The presence of 76 scaleups suggests a strong environment for business expansion and growth, essential for long-term economic stability.

Business Continuity

  • Company Cessations: The data does not provide explicit numbers for company cessations, but the presence of 1,352 new companies over two years, coupled with a total of 10,675 SMEs, indicates a dynamic business environment with ongoing company formations and closures.

Gender Representation

  • Founders Gender: 15.24% of founders are female, 80% male, and 4.76% unknown. This distribution shows a male dominance in entrepreneurship.
  • Directors Gender: The gender distribution among directors is more balanced, with 27.33% female and 69.14% male directors. Still, male dominance persists at the leadership level.

Company and Director Demographics

  • Young Companies with Young Directors: 440 companies have young directors, indicating a significant presence of youth-led businesses.
  • Patent Owners and Grantees: The existence of 124 patent owners and 3 grantees reflects an environment conducive to innovation and intellectual property development.

Business Activity Metrics

  • Exporters and Foreign Parent Companies: With 270 exporters and 126 companies with foreign parentage, East Hertfordshire exhibits international business engagement and global connectivity.
  • Fundraisings and Spinouts: There have been 8 fund-raisings and no recorded spinouts, showing some level of investment activity but limited university or research-based company formations.

Conclusion

East Hertfordshire’s economy is characterised by a robust employment market, diverse sector dynamics, and a strong presence of SMEs. The growth in digital and online sectors, alongside traditional industries, shows adaptability and innovation. While there is healthy gender representation among directors, there’s room for improvement in entrepreneurial gender diversity. The region demonstrates a promising blend of youth-driven companies, innovation, and international business engagement, positioning it well for future economic resilience and growth.

Company foundations and cessations over time

Active companies over time

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