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

Analysis Report: Economic and Business Activity in Lincoln

Overview

Lincoln, with a total of 26,504 employees, has experienced significant economic dynamics, reflected in various sectors and company activities. Key sectors like Professional, Scientific, and Technical Activities, alongside Wholesale and Retail Trade, dominate the landscape. The city has witnessed a healthy growth in employment, with a notable rise in scale-ups and new companies, indicating a vibrant business environment.

Employment and Business Growth

  • Total Employees: Lincoln employs 26,504 individuals across various sectors. The city saw a raise in employee numbers in 38 companies, demonstrating robust employment growth.
  • Employee Growth Percentage: The city experienced an 8.01% growth in employment, suggesting a thriving job market.
  • Scale-ups: There are 34 scale-up companies, indicating a significant number of businesses that are expanding rapidly, contributing to job creation and economic vitality.

Sector Dynamics

  • Top Sectors: The leading sectors in Lincoln are Professional, Scientific, and Technical Activities (13.58%), Wholesale and Retail Trade (12.41%), and Construction (12.39%). These sectors form the backbone of Lincoln’s economy.
  • Emerging Sectors: Sectors such as Other Health and Fitness, Technology/IP-based businesses, and Internet Platforms show signs of emerging business activities, albeit currently on a smaller scale.

Business Continuity

  • Company Cessations: Lincoln witnessed 5,960 company cessations, highlighting a challenging aspect of business sustainability in the city.
  • New Companies: There are 667 new companies in the last two years, indicating a dynamic entrepreneurial environment.
  • Small and Medium Enterprises (SMEs): SMEs number 4,052, forming a significant part of the city’s economic fabric.
  • Exporters and Foreign Parent Companies: The city hosts 82 exporters and 46 companies with foreign parentage, underscoring its global business connections.

Leadership and Innovation

  • Gender Distribution in Founders and Directors: Founders are predominantly male (84.44%), with female founders at 13.33%. Directors show a similar trend, with 65.68% male and 25.60% female.
  • Innovation Indicators: Lincoln has 35 patent owners and 7 grantees, indicating a moderate level of innovation activity.

Conclusion

Lincoln’s economy is marked by strong sectoral diversity, robust employment growth, and a notable presence of SMEs and scale-ups. While facing challenges in business continuity, the city shows promising signs of emerging sectors and innovation. The leadership roles, however, indicate a gender disparity that could be an area for future development.

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