Overview
The Isle of Anglesey presents a dynamic and diverse economic landscape. With 14,637 employees, the region shows robust activity in various sectors. Notably, significant sectors include professional, scientific, and technical activities, construction, and accommodation and food service activities. Despite no recent IPOs, there’s an observable employee growth rate of 8.375%, indicating positive momentum in the job market. The presence of scaleups and new companies highlights an entrepreneurial spirit, while the gender distribution among founders and directors suggests areas for increased diversity.
Employment and Business Growth
- Total Employees: 14,637. The region has experienced a healthy growth in employment, with a year-over-year increase of 8.375%. This growth is significant, indicating a thriving job market and business environment.
- Employee Growth: 77 companies have raised their number of employees. This is indicative of business expansion and economic health.
- Top Sectors: Key sectors include professional, scientific, and technical activities (315 companies), construction (294 companies), and accommodation and food service activities (248 companies). These sectors are pivotal in driving the region’s economic activity.
- Sectors with Most Growth: Other business and professional services, SaaS, analytics, and automotive are among sectors with notable company increases, reflecting trends in technology adoption and service diversification.
Business Continuity
- Company Cessations: Isle of Anglesey saw a cessation of 198 companies. While this is a natural part of the business lifecycle, it suggests a competitive environment where not all ventures thrive.
- Scaleups: The presence of 8 scaleups is encouraging, as these are companies showing substantial growth in revenue or employees, indicating a fertile ground for business expansion.
Conclusion
The Isle of Anglesey’s economic profile is characterised by healthy employment growth, a diverse range of active sectors, and a significant number of new and scaling companies. While the number of company cessations presents a challenge, the overall picture is one of a dynamic and growing business environment. Opportunities for further diversification and inclusivity in the business landscape, especially regarding gender representation in leadership roles, remain areas for development.