Overview
Great Yarmouth’s economic landscape is shaped by a diverse mix of sectors. The city’s workforce totals 28,182 employees, indicating a vibrant employment environment. The employment sector shows a significant growth of 9.66%, reflecting a positive economic trajectory. Key sectors include Construction, Retail Trade, Professional Activities, and Administrative Support, among others. The business climate is dynamic, with a substantial number of new companies emerging in the last two years.
Employment and Business Growth
- Total Employees: 28,182. The city has experienced a healthy increase in employment, with a 9.66% growth. This growth indicates an expanding job market, likely driven by new businesses and scale-ups in the region.
- Employee Growth: The growth rate is notably positive, suggesting robust economic activity and potential for future job creation.
- Top Sectors by Number of Companies: Construction (622 companies), Retail Trade (512), and Professional Activities (506) dominate the landscape. This diversification suggests a balanced economy not overly reliant on a single industry.
- Top Sectors Showing Growth: Not explicitly mentioned, but inferred from the number of new companies, sectors like Retail Trade and Professional Activities are likely growing.
Business Continuity
- Company Cessations: Not explicitly provided. However, the significant number of new companies (1,109) over two years suggests a dynamic business environment with new entrants offsetting any cessations.
- New Companies: 1,109 companies were established in the last two years, indicating a thriving entrepreneurial environment.
- SMEs and Exporters: With 2,957 SMEs and 97 exporters, the city boasts a strong backbone of small and medium enterprises contributing to the local and global economy.
- Foreign Parent Companies: Absence of data suggests minimal foreign direct investment in terms of company ownership.
- Fundraisings and Patents: 80 fundraisings, but no patent owners, indicating active financial activity but limited innovation in patentable areas.
Gender Representation and Company Age
- Founders’ Gender: 25% female, 75% male. This shows a gender disparity among entrepreneurs.
- Directors’ Gender: 26.13% female, 70.94% male. Similar to founders, a gender gap exists in leadership roles.
- Young Companies with Young Directors: 226 companies have young directors, indicating a vibrant youth involvement in entrepreneurship.
Conclusion
Great Yarmouth demonstrates a robust and diverse economic landscape, marked by significant employment growth and a vibrant mix of sectors. The high number of new companies and scale-ups indicates a dynamic business environment. However, the gender disparity in entrepreneurship and leadership roles highlights areas for potential policy intervention to promote greater inclusivity.