Overview
East Lindsey’s economic landscape showcases a diverse range of sectors with significant activity in wholesale and retail trade, construction, and professional services. The total employee count stands at 30,342, with a noticeable growth in employment. The region shows potential in various sectors, with the presence of SMEs and new companies indicating a dynamic business environment. However, the absence of IPOs suggests a focus on small to medium-scale enterprises rather than large corporations.
Employment and Business Growth
- Total Employees: 30,342. The region saw a 6.35% growth in employment, indicating a healthy job market.
- Companies with Increased Employment: 66 companies reported employment growth, demonstrating a robust business sector capable of creating jobs.
- Top Sectors by Company Number: Wholesale/retail trade (876 companies), construction (687), and professional services (589) are the leading sectors, showing a diverse economic base.
- Sectors with Most Growth: Notable growth in machinery, gyms, pubs and clubs, internet platforms, and leisure/entertainment outlets, though the number of companies is small.
- Number of Scaleups: 42, indicating a moderate level of high-growth businesses.
Business Continuity
- Company Cessations: 5,416 companies ceased operations, suggesting challenges in sustaining businesses, possibly due to market dynamics or external factors.
- New Companies in Last 2 Years: 1,061, showing a vibrant entrepreneurial spirit and a potentially regenerative business environment.
Sector Analysis
- Top Sectors by Employee Count: The dominance of trade, construction, and professional services sectors reflects the region’s traditional economic strengths.
- Emerging Sectors: Gyms, internet platforms, and leisure outlets, though small in number, indicate diversifying interests and adaptability to contemporary trends.
Corporate Demographics
- Gender Representation in Founders: 14.29% female founders versus 85.71% male, highlighting a significant gender gap in entrepreneurship.
- Gender Representation in Directors: 30.09% female directors, indicating better but still unequal representation at the higher management level.
- Director Age Distribution: A broad age range of directors, with the largest group being above 60 years (33.70%).
Conclusion
East Lindsey presents a dynamic and diverse economic landscape, with strengths in traditional sectors like trade and construction, coupled with emerging areas like internet platforms and leisure services. The region shows positive employment growth and a promising number of new businesses. However, challenges in business sustainability and gender disparity in leadership roles are areas needing attention.