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The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in Great Yarmouth

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.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.