Overview
Milton Keynes, a thriving city, exhibits a dynamic economic landscape. With 266,255 employees, it’s marked by significant growth in sectors like professional, scientific, technical activities, and information and communication. Despite no IPOs, a notable 10.42% employee growth rate and the emergence of 137 scaleups highlight its robust business environment. The gender diversity in leadership positions and the presence of 768 patent owners and 11 grantees underscore a strong innovation ecosystem.
Employment and Business Growth
- Total Employees: 266,255. This high figure reflects a diverse and growing economy. The city has seen a rise in employment, particularly in knowledge-intensive sectors.
- Employee Growth Rate: 10.42%. This significant growth indicates a robust job market, likely driven by the expansion of existing businesses and the influx of new companies.
- Top Sectors with Employee Growth: The sectors with notable employee growth include mobile apps, SaaS, internet platforms, business banking, and financial services. This diversification suggests a shift towards a more digital and service-oriented economy.
Sector Dynamics
- Top Sectors by Company Numbers: The leading sectors are professional, scientific and technical activities (15.8%), information and communication (13.58%), and wholesale and retail trade (12.58%). These sectors are pivotal to the city’s economic fabric.
- Emerging Sectors: Emerging sectors like mobile apps and SaaS indicate a growing tech ecosystem, positioning Milton Keynes as a hub for digital innovation.
Business Continuity
- Company Cessations: No data provided. The absence of this data point makes it challenging to assess business continuity comprehensively.
- Number of New Companies in 2 Years: 6,843. This indicates a vibrant entrepreneurial environment and a strong pipeline for future business growth.
- Total Companies: 27,141. The sheer number of companies underscores the city’s economic vitality and diverse business landscape.
- SMEs and Exporters: With 19,721 SMEs and 722 exporters, Milton Keynes showcases a strong backbone of small and medium enterprises contributing significantly to the local and global economy.
Innovation and Entrepreneurship
- Patent Owners and Grantees: The presence of 768 patent owners and 11 grantees highlights a culture of innovation and research within the city.
- Scaleups: 137 scaleups indicate a healthy environment for business growth and scalability.
Diversity and Leadership
- Gender Diversity in Founders and Directors: Founders are 21.69% female and 76.20% male, while directors are 27.11% female and 67.72% male. This shows a gender gap but also a gradual increase in female participation at the leadership level.
- Young Companies with Young Directors: 1,031 companies led by young directors suggest a vibrant start-up scene driven by younger entrepreneurs.
Conclusion
Milton Keynes presents a strong and diversified economy, with significant growth in digital and service sectors. The city’s vibrant entrepreneurial scene, evidenced by a high number of new companies and scaleups, along with a substantial number of SMEs and exporters, paints a picture of a dynamic business environment. The presence of a significant number of patent owners and grantees further indicates a strong innovation ecosystem. However, there is room for improvement in gender diversity among founders and directors. Overall, Milton Keynes is on a positive trajectory, with promising indicators for future economic growth and sustainability.