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

Analysis Report: Economic and Business Activity in Isles of Scilly

Overview

The Isles of Scilly, a small archipelago off the Cornish coast of the UK, presents a unique economic landscape. With a total of 493 employees in various sectors, the economy is characterised by a blend of traditional and service-oriented industries. Key sectors include accommodation and food service activities, retail trade, and professional services. The council area demonstrates resilience in maintaining diverse economic activities, despite its small size and remote location.

Employment and Business Growth

  • Total Employees: 493
    • The Isles of Scilly’s workforce is modest in size but shows a positive trend in employment growth. With 493 employees, the region’s economic activities are primarily concentrated in small-scale industries.
  • Employee Growth: 18.88%
    • The Isles of Scilly experienced a significant 18.88% growth in employment, indicating a thriving business environment and possibly an increase in tourism and local entrepreneurship.

Sector Dynamics

  • Top Sectors: Accommodation and food service activities (18 companies, 19.78%), Wholesale and retail trade (15 companies, 16.48%), and Professional, scientific and technical activities (8 companies, 8.79%).
    • These sectors are crucial in driving the Isles’ economy, reflecting the region’s focus on tourism and local services.
  • Company Cessations: 0
    • Remarkably, there were no company cessations, suggesting strong business resilience and continuity in the Isles of Scilly.

Business Continuity

  • New Companies in 2 Years: 9
    • The formation of 9 new companies over the past two years showcases a dynamic and evolving business landscape, with new entrants adding to the economic diversity.
  • Total Companies: 91
    • With a total of 91 companies, the Isles of Scilly sustains a diverse economic structure, supporting local livelihoods and contributing to regional development.

Gender Dynamics in Leadership

  • Directors Gender: 40.625% female, 56.25% male, 3.125% unknown
    • The gender distribution among company directors is notably balanced, with a significant representation of female directors, which is encouraging for gender diversity in leadership roles.

Conclusion

The Isles of Scilly showcases a vibrant, albeit small, economic landscape with a strong emphasis on service-oriented sectors like accommodation, food services, and retail trade. The region demonstrates robust employment growth and business resilience, with a notable balance in gender representation among company directors. The absence of company cessations and the introduction of new businesses indicate a healthy and evolving economic environment.

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