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

Analysis Report: Economic and Business Activity in Huntingdonshire

Overview

Huntingdonshire’s economy is characterised by a diverse range of sectors, with a significant presence in professional, scientific and technical activities, construction, and wholesale/retail trade. The region has a healthy employment level, with 81,915 employees and a notable number of businesses experiencing growth. However, there have been no IPOs, indicating a potential area for improvement in terms of high-impact business events.

Employment and Business Growth

  • Total Employees: 81,915 employees, with 258 businesses reporting growth. This indicates a robust and dynamic local economy.
  • Percentage Employee Growth: 7.45%, a healthy growth rate suggesting a strong job market and potential for future economic expansion.
  • Number of Scaleups: 68, signifying a vibrant startup ecosystem and potential for future economic drivers.

Sector Dynamics

  • Top Sectors by Company Count:
    • Professional, scientific, and technical activities (1,799 companies, 15.5%)
    • Construction (1,356 companies, 11.69%)
    • Wholesale and retail trade (1,350 companies, 11.63%)
  • Top Sectors by Growth: Notable sectors with growing companies include Other CleanTech, Internet platform, and Analytics, insight, tools.
  • Total Number of Companies: 11,604, reflecting a diverse and flourishing business landscape.
  • New Companies in Last 2 Years: 2,545, indicating a significant rate of new business formation.
  • Small and Medium-Sized Enterprises (SMEs): 8,934, forming the backbone of the local economy.
  • Number of Companies with Foreign Parentage: 308, suggesting some level of international investment and influence.

Business Continuity

  • Company Cessations: 1,042, a figure that needs to be contextualised with the number of new companies and overall business growth.

Innovation and International Trade

  • Number of Patent Owners: 841, indicating a strong focus on innovation.
  • Number of Exporters: 434, showing engagement in international trade.
  • Number of Fundraisings: 13, potentially an area for growth to support business expansion.

Diversity and Leadership

  • Founders’ Gender Balance: 90.09% male and 9.91% female founders, highlighting a significant gender gap in business leadership.
  • Directors’ Gender Balance: 69.72% male and 26.28% female directors, showing a similar trend in leadership positions.
  • Age Distribution of Directors: A balanced distribution across various age groups, with the highest concentration in the 50-60 age range (28.38%).

Conclusion

Huntingdonshire exhibits a dynamic and diverse economic environment with strong growth in employment and business formation. The region shows a healthy mix of sectors, with a notable focus on professional and technical services. While innovation is evident, areas like IPOs and fundraising activities could be further developed. The gender imbalance in business leadership and founding roles is a critical area for future focus to ensure diverse and inclusive growth.

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