Overview
Malvern Hills showcases a diverse economic landscape with a strong presence in professional, scientific, technical, and retail sectors. The area has demonstrated moderate growth in employment and business activities, with specific sectors experiencing more dynamic changes than others. Notably, there’s a balance between traditional and emerging sectors, reflecting the region’s adaptability and potential for future growth.
Employment and Business Growth
- Total Employees: 19,734. The employee count in Malvern Hills has shown a positive trend, indicating a healthy job market. The increase in employees, particularly in sectors like professional services and retail trade, suggests a balanced economic development.
- Employee Growth Rate: 6.07%. This growth rate is indicative of an expanding local economy, with a steady increase in job opportunities.
- Top Growing Sectors: The sectors showing the most significant growth include Business Banking and Financial Services, Analytics and Tools, Agriculture and Farming, Security Services, and Wholesale. This diversity reflects a robust and versatile local economy.
- Total IPOs: 0. The absence of IPOs suggests a focus on small to medium-sized enterprises (SMEs) rather than large, publicly traded companies.
Business Continuity
- Company Cessations: 517. While there are company cessations, it’s a relatively small number compared to the total number of companies, indicating good business continuity overall.
- New Companies (Last 2 Years): 988. This figure points to a vibrant entrepreneurial ecosystem in Malvern Hills, with a substantial number of new businesses emerging.
Sector Dynamics
- Leading Sectors by Number of Companies: The leading sectors are Professional, Scientific and Technical Activities (965 companies), Retail Trade/Repair of Motor Vehicles and Motorcycles (622), and Real Estate Activities (555). These sectors are crucial in driving the local economy.
- SMEs: 4,362. A high number of SMEs demonstrates the entrepreneurial spirit in the region and its reliance on small businesses for economic stability.
- Scale-ups: 20. This relatively low number indicates potential areas for economic development and support.
Company Trends
- Total Companies: 5,433. This number reflects a healthy business environment with a mix of established and new businesses.
- Exporters: 181. The presence of exporters shows the region’s engagement in global trade, which is essential for economic diversity.
- Companies with Foreign Parent: 136. This indicates foreign investment and international business interest in Malvern Hills.
Gender Diversity
- Founders Gender: 15.38% female, 84.62% male. The gender gap among founders suggests room for improvement in supporting female entrepreneurship.
- Directors Gender: 31.14% female, 64.67% male. While there’s a notable presence of female directors, increasing gender diversity in leadership roles remains a key area for development.
Conclusion
Malvern Hills demonstrates a robust and diverse economic environment with significant growth in employment and new businesses. The region’s economy is marked by a strong presence in professional and technical services, alongside a thriving SME sector. While there are areas for improvement, such as gender diversity in leadership roles and supporting scale-ups, the overall economic health of Malvern Hills is promising.