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

Analysis Report: Economic and Business Activity in Melton

Overview

Melton’s economic landscape is defined by a diverse mix of sectors, with a notable emphasis on professional, scientific, and technical activities. The city shows positive indicators in several areas, including employment growth and business scale-ups. However, challenges are apparent in gender diversity among founders and directors, and in the generation of new companies and intellectual property.

Employment and Business Growth

  • Total Employees: Melton has 28,478 employees, indicating a robust workforce.
  • Employee Growth Rate: The city experienced a 5.66% growth in employment, signaling an expanding job market.
  • Top Sectors by Number of Companies:
    • Professional, scientific, and technical activities (480 companies, 17.18%)
    • Construction (352 companies, 12.6%)
    • Wholesale/retail trade and motor vehicle repair (349 companies, 12.49%)
  • Top Sectors Showing Growth: Educational services and collaboration tools are among the sectors showing an increase in the number of companies.
  • Scaleups: 20 companies are identified as scaleups, reflecting a nurturing environment for business expansion.

Business Continuity

  • Company Cessations: Melton has seen 2,831 companies cease operations, which could indicate market saturation or economic challenges in certain sectors.
  • Company Formations: In the past two years, 539 new companies were formed, contributing to the total of 292 new companies overall. This suggests a moderately dynamic start-up environment.
  • Small and Medium-sized Enterprises (SMEs): There are 2,230 SMEs, forming the backbone of the local economy.
  • Exporters: 101 exporters show international business engagement.
  • Companies with Foreign Parentage: 68 companies are foreign-owned, indicating global investment interest.

Intellectual Property and Innovation

  • Patent Owners: The presence of 25 patent owners suggests a moderate level of innovation.
  • Grantees: The city has 4 grantees, which might indicate limited research and development activities.
  • IPOs: There have been no IPOs, reflecting either a nascent or conservative approach towards public listings.

Gender Diversity

  • Founders: 100% male founders, indicating a significant gender gap in entrepreneurship.
  • Directors: 30.36% female directors and 66.85% male directors, showing a need for improved gender balance in leadership roles.

Conclusion

Melton’s economic health is characterised by a growing workforce, diversity in sectors, and a moderate level of new business creation. However, there are areas for improvement, particularly in gender diversity among founders and directors, and in fostering a stronger environment for innovation and international trade.

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