Overview
Gloucester’s economic landscape is diverse, with a significant presence in sectors like wholesale/retail trade and construction. The city’s employment base is robust, hosting 37,716 employees. The trends in sector dynamics, gender distribution among founders and directors, and company growth indicators provide a comprehensive view of Gloucester’s economic health.
Employment and Business Growth
- Total Employees: 37,716. Gloucester has seen a significant workforce, with 12 sectors experiencing growth.
- Employee Growth Rate: A 14.87% growth rate in employees highlights a dynamic job market, potentially linked to the city’s evolving business landscape.
- Top Sectors by Company Count: The leading sectors are wholesale/retail trade (896 companies), construction (831), and professional, scientific, and technical activities (817). These sectors are crucial to Gloucester’s economic fabric.
- Sectors with Rising Company Counts: Notable sectors with rising company counts include energy reduction technology and e-commerce, indicating a shift towards more technology and sustainability-focused industries.
Company Dynamics
- Total Companies: 6,824, reflecting a diverse and extensive business environment.
- New Companies (2 Years): 957. This number suggests a healthy rate of new business formation, indicative of an entrepreneurial spirit in the city.
- Small and Medium Enterprises (SMEs): 5,080 SMEs form the backbone of Gloucester’s economy, driving innovation and employment.
- Exporters: 144. This number, though modest, indicates Gloucester’s participation in global trade.
- Companies with Foreign Parentage: 85, suggesting a degree of international investment and influence in the local economy.
Innovation and Growth
- Number of Scaleups: 46. These rapidly growing companies are critical for job creation and economic dynamism.
- Patent Owners: 83. A significant number of patent owners denote a strong innovation ecosystem.
- Fundraising Activities: 5 fundraisings, indicating active investment in local businesses.
Gender Representation
- Founders Gender Percentage: Female founders represent 11.43%, male founders 85.71%. This disparity highlights a gender gap in entrepreneurial activities.
- Directors Gender Percentage: Female directors stand at 26.38%, while male directors are at 69.42%. The data shows a more balanced, yet still male-dominated, representation in corporate leadership.
Business Continuity
- Company Cessations: 657. This figure, relative to the total number of companies, suggests a competitive business environment with some level of turnover.
Conclusion
Gloucester’s economic landscape is characterised by a strong presence in traditional sectors like wholesale/retail trade and construction, alongside emerging sectors like energy reduction technology and e-commerce. The city shows healthy employment growth and a vibrant SME sector. However, there’s a notable gender disparity in entrepreneurship and corporate leadership. The innovation ecosystem, as indicated by patent owners and scaleups, is promising, although the number of company cessations points to competitive challenges.