Overview
Middlesbrough, a dynamic city in terms of economic and business activity, shows significant diversity in its industrial sectors and a notable growth in employment. With a total of 32,198 employees and a 10.35% employee growth rate, the city is experiencing a positive trend in business development. The data indicates a healthy mix of industries, ranging from professional services to construction and retail, contributing to a robust economic environment.
Employment and Business Growth
- Total Employees: Middlesbrough has 32,198 employees, with 123 companies reporting employee growth. This indicates a vibrant job market and suggests a trend of business expansion across various sectors.
- Percentage Employee Growth: The 10.35% growth in employees is a strong indicator of economic vitality, reflecting both the creation of new jobs and the expansion of existing businesses.
- Number of Scaleups: With 34 scaleup companies, Middlesbrough demonstrates an encouraging environment for business development and growth.
Sector Dynamics
- Top Sectors by Number of Companies: The leading sectors are diverse, with ‘Professional, scientific and technical activities’ (1,127 companies) and ‘Wholesale and retail trade / repair of motor vehicles and motorcycles’ (1,116 companies) at the forefront. This diversity is key to economic resilience.
- Top Sectors Showing Growth: Sectors such as ‘Property/land development and construction’ and ‘Design services’ are among the top growing sectors, reflecting a dynamic and evolving business landscape.
Company Trends
- Total Companies: There are 7,113 companies in Middlesbrough, indicating a healthy business ecosystem.
- New Companies (2 Years): The addition of 2,674 new companies over two years highlights a vibrant start-up scene and entrepreneurial spirit.
- SMEs and Exporters: The presence of 4,678 SMEs and 89 exporters signifies a strong backbone of small and medium-sized businesses with international reach.
- Foreign Parent Companies: With 69 foreign parent companies, there’s a notable level of international investment and influence in the local economy.
Business Continuity
- Company Cessations: The cessation of 1,149 companies suggests challenges in the business environment, possibly due to market dynamics or external economic factors.
Directors and Founders Demographics
- Founders Gender: The gender distribution among founders shows 7.04% female and 91.55% male, indicating a significant gender gap in entrepreneurship.
- Directors Gender: 21.70% female and 73.89% male directors reflect a similar trend in leadership roles.
- Age Distribution of Directors: A diverse age range among directors, with a notable presence in the 30-50 age group, suggests a blend of experience and new perspectives in company leadership.
Conclusion
Middlesbrough’s economic landscape is characterised by a strong and diverse industrial base, significant growth in employment, and a thriving entrepreneurial environment. However, challenges such as company cessations and gender disparity in leadership roles need attention. Overall, the city demonstrates a robust and evolving economic ecosystem.