Overview
The economic landscape of Hinckley and Bosworth reveals a diverse mix of sectors, with a significant presence in wholesale and retail trade, construction, and professional services. The area boasts a robust employment base of 51,236 employees, with notable growth in certain sectors. Despite the absence of IPOs, the city has witnessed a healthy increase in employee numbers and has a substantial number of scale-ups, indicating a dynamic business environment.
Employment and Business Growth
- Total Employees: 51,236. Hinckley and Bosworth have shown a 7.58% growth in employment, indicating a healthy expansion in the job market. This growth is especially significant considering the diverse range of sectors contributing to this rise.
- Sectors with Most Growth: The sectors that have seen the most growth include other manufacturing and engineering, automotive, and other CleanTech. These sectors are emerging as key contributors to the economic vitality of the region.
Sector Dynamics
- Top Sectors: The leading sectors by the number of companies are wholesale and retail trade, construction, and professional, scientific, and technical activities. These sectors are critical in driving the local economy and provide a diverse range of employment opportunities.
- Top Sectors with Employee Growth: Sectors like other manufacturing and engineering, automotive, and CleanTech are on the rise, indicating a shift towards more specialised and high-tech industries.
Company Trends
- Total Companies: There are 5,868 companies in Hinckley and Bosworth, with 1,319 new companies established in the last two years. This indicates a vibrant entrepreneurial spirit and a conducive environment for new business ventures.
- Scale-ups: The presence of 46 scale-ups demonstrates the potential for existing businesses to grow and expand significantly, contributing to the overall economic health of the region.
Business Continuity
- Company Cessations: The data shows 610 companies ceased operations, which is a natural part of the business lifecycle. This number should be evaluated in the context of the number of new companies and overall business growth.
Diversity in Leadership
- Gender Distribution in Founders and Directors: Founders show a gender distribution of 12.82% female and 87.18% male, indicating a gender gap in entrepreneurial ventures. Directors have a better gender balance with 27.42% females and 69.90% males. This suggests room for improvement in gender diversity in leadership roles.
Conclusion
Hinckley and Bosworth’s economic landscape is marked by a healthy mix of traditional and emerging sectors, robust employment growth, and a dynamic business environment. While there are areas for improvement, such as gender diversity in leadership and mitigating business cessations, the overall economic health of the city appears strong and promising.