Overview
The Fylde Council area exhibits a vibrant mix of economic activities with a strong emphasis on professional, scientific, technical activities, and information and communication sectors. The total number of employees is 42,893, with a notable increment of 546 employees across various sectors. The council has witnessed a healthy 8.65% employee growth rate, indicative of dynamic business activities. However, the region has not experienced any IPOs, which could suggest a focus on private or smaller scale enterprises.
Employment and Business Growth
- Total Employees: 42,893. The council area has seen a rise in employment, particularly in sectors like professional, scientific, and technical activities. This growth is a positive sign, indicating a thriving economic environment.
- Employee Growth Rate: 8.65%. This significant growth rate is a testament to the region’s expanding job market and possibly, the success of local businesses and startups.
Sector Dynamics
- Top Sectors: The leading sectors include professional, scientific and technical activities (20.41% of companies), information and communication (14.75%), and construction (9.04%). These sectors are pivotal to the local economy, contributing substantially to employment and business activities.
- Sectors with Most Growth: Sectors like internet platforms, leisure and entertainment, design services, advertising and branding, and consumer banking have shown considerable growth, albeit with a smaller base.
Company Trends
- Total Companies: 8,652. Fylde hosts a diverse array of companies, supporting the council’s economic resilience.
- New Companies (Last 2 Years): 1,632. This number indicates a robust entrepreneurial spirit and a conducive environment for new business ventures.
- SMEs: 7,066. The dominance of SMEs suggests a strong backbone of the local economy, often driving innovation and employment.
- Exporters: 108. While a modest number, these exporters are crucial for the regional economy, bringing in external revenue.
- Companies with Foreign Parentage: 58. This indicates a level of international investment and global business connections.
- Fundraisings: 117. The fundraising activities reflect an active investment landscape, vital for business growth and innovation.
- Patent Owners: 3. This suggests a limited but present focus on innovation and intellectual property.
Business Continuity
- Company Cessations: 1,151. While company closures are part of any economic landscape, this number should be considered in the context of new company formations and overall company growth.
Diversity in Leadership
- Gender Diversity (Founders): 9.09% female founders, 90.91% male founders. This highlights a significant gender gap in entrepreneurial activities.
- Gender Diversity (Directors): 28.35% female directors, 68.22% male directors. Though better than the founders’ statistics, there’s still room for improvement in gender diversity at the leadership level.
- Age Distribution (Directors): A diverse age range in directorship, with the majority being over 40 years old, suggesting experienced leadership.
Conclusion
Fylde’s economic landscape is characterised by a robust growth in employment, a diverse range of active sectors, and a strong presence of SMEs. While there are areas of concern like the absence of IPOs and gender disparity in leadership, the overall economic indicators are positive, reflecting a dynamic and growing business environment. The council’s economic health is bolstered by new company formations and a significant number of fund-raising activities, indicating a healthy investment climate.