Overview
East Staffordshire showcases a diverse and evolving economic landscape. The area employs a total of 77,172 individuals, with a notable presence in sectors such as professional, scientific, technical activities, and retail trade. The region has experienced a growth in employment, reflected in a 10.56% employee growth rate, and the emergence of 36 scale-ups indicates a dynamic business environment. However, the absence of IPOs suggests limited activities in public markets. The gender representation among founders and directors reveals a male predominance, highlighting potential areas for increased diversity.
Employment and Business Growth
- Total Employees: 77,172. The employee base in East Staffordshire has been steadily growing. A significant rise in employment, indicated by the presence of 362 employee-raisers, demonstrates a robust job market and economic vitality.
- Employee Growth: The percentage of employee growth stands at 10.56%, signifying a healthy expansion in the workforce. This growth is pivotal for the region’s economic development and indicates a positive business climate conducive to employment opportunities.
Sector Analysis
- Top Sectors: The leading sectors in East Staffordshire are varied, with the professional, scientific, and technical activities sector leading with 1,132 companies (14.8%), followed closely by retail trade (1,107 companies, 14.47%), and construction (931 companies, 12.17%). This diversity indicates a well-rounded economic base.
- Sectors Showing Growth: Sectors like gyms, pubs and clubs, and technology/IP-based businesses are emerging, albeit with a small presence. This diversification suggests potential areas for future growth.
Business Continuity
- Company Cessations: East Staffordshire has a high number of company cessations with 7,498 out of 7,648 companies, indicating a challenging environment for business sustainability.
- New Companies: There have been 1,142 new companies in the past two years, showcasing a vibrant startup environment. This influx of new businesses is essential for introducing innovation and competition into the market.
- Small and Medium Enterprises (SMEs): With 5,520 SMEs, the region demonstrates a strong backbone of small businesses, crucial for job creation and economic resilience.
- Exporters: The presence of 197 exporters reflects the region’s participation in global trade, contributing to economic diversity and strength.
- Foreign Parent Companies: With 311 companies having foreign parentage, there’s a significant international influence on the local economy, which can bring in diverse business practices and global market access.
Innovation and Growth
- Scaleups: The presence of 36 scaleups indicates a nurturing environment for business growth and innovation.
- Patent Owners and Grantees: The region has a modest number of patent owners (6) and grantees, pointing to a certain level of innovation, albeit limited.
Gender Representation
- Founders: 9.52% female, 88.10% male, and 2.38% unknown. This distribution highlights a gender gap in entrepreneurship that could be addressed for a more balanced and inclusive economic landscape.
- Directors: 26.30% female, 70.85% male, and 2.85% unknown. Similar to founders, a male dominance in leadership roles is evident, suggesting room for increased female representation in corporate governance.
Conclusion
East Staffordshire presents a robust and diverse economic landscape, with strengths in varied sectors and a growing employment base. However, challenges in business continuity and gender diversity in leadership positions are areas that need attention. The healthy influx of new companies and the presence of scaleups indicate a dynamic business environment conducive to growth and innovation.