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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 Riding of Yorkshire

Overview

East Riding of Yorkshire exhibits a diverse economic landscape. With 127,475 employees across various sectors, the region shows a mix of traditional and emerging industries. Key sectors include professional, scientific, and technical activities, construction, and retail trade. Notably, there’s a significant presence of SMEs and a moderate number of new companies, indicating a dynamic business environment.

Employment and Business Growth

  • Total Employees: 127,475. The region has shown an employment growth rate of approximately 9.58%, indicating a healthy job market and potential for economic expansion.
  • Top Sectors for Employment Growth: The sectors with the most notable growth include internet platforms, e-commerce, server hardware, plastics, and veterinary services. This diversity suggests a balanced growth across both technology-driven and traditional industries.

Business Continuity

  • Company Cessations: The data indicates a total of 15,74 company cessations, which, considering the overall number of companies (18,368), shows a relatively stable business environment with a cessation rate of about 8.57%.

Sector Dynamics

  • Top Sectors by Number of Companies: Professional, scientific and technical activities (2,746 companies), construction (2,507 companies), and retail trade (2,322 companies) dominate the sector landscape. These sectors contribute significantly to the region’s economic vitality.
  • Emerging Sectors: Sectors like internet platforms and e-commerce, although smaller in number, are showing signs of growth, reflecting a trend towards digitalisation.
  • New Companies: In the past two years, 2,084 new companies have emerged, suggesting an entrepreneurial spirit and a conducive environment for startups.
  • SMEs and Exporters: With 14,161 SMEs and 476 exporters, the region has a robust backbone of small and medium-sized businesses contributing to both local and international markets.

Diversity and Inclusion

  • Gender Representation in Founders and Directors: Female founders constitute 14.43% and female directors 28.21%, indicating a need for enhanced gender diversity in leadership roles. Male directors dominate at 68.51%.

Conclusion

East Riding of Yorkshire presents a balanced mix of traditional and emerging sectors, with a stable business environment and a growing employment sector. While there is a healthy number of SMEs and new companies, efforts to increase gender diversity in leadership could further strengthen the region’s economic fabric.

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