Overview
Fenland, a locality with a diverse economic landscape, shows a mix of traditional and emerging sectors. With a total employee base of 26,223, the area is witnessing modest growth in employment. Key sectors include Construction, Retail Trade, and Professional Services, with emerging trends in Internet Platforms and Agriculture.
Employment and Business Growth
- Total Employees: Fenland has a total of 26,223 employees. The 12.04% growth in employment is indicative of a healthy, expanding job market.
- Employment Raisers: Three sectors have been identified as key employment raisers: Internet Platforms, Property/Land Management, and Agriculture/Farming. This diversification suggests an economy transitioning towards more varied industries.
Sector Dynamics
- Top Sectors: The leading sectors by company number are Construction (834 companies), Retail Trade (718), and Professional Services (507). This diversity points to a balanced economic structure.
- Sectors with Rising Company Numbers: Notably, Internet Platforms, Property Management, and Agriculture are emerging as significant contributors, despite having fewer companies currently. This indicates a shift towards technology and sustainable practices.
Business Continuity
- Company Cessations: Fenland has a relatively stable business environment with 457 companies ceasing operations. This figure, when compared to the number of new and existing companies, suggests a dynamic yet stable business ecosystem.
- New Companies: There are 1,104 new companies in the last two years, indicating an environment conducive to entrepreneurship and new business ventures.
Diversity and Innovation
- Gender Representation: Founders show a 21.05% female and 78.95% male distribution. In director roles, women hold 27.22% of positions. This highlights a gender gap, especially in foundational roles.
- Innovation Indicators: With 23 patent owners and 4 grantees, there is evidence of innovation, albeit limited. The presence of 1 fundraising indicates emerging businesses seeking growth opportunities.
Conclusion
Fenland’s economic landscape is characterised by a robust employment growth, a diverse sectoral composition, and an encouraging environment for new businesses. The area shows potential in technology and sustainable sectors, though it faces challenges in gender diversity and innovation.