Overview
Monmouthshire’s economic landscape is marked by a diverse range of sectors, with a significant presence in professional, scientific, technical activities, and retail trade. The area has seen stable employment growth, a healthy number of new companies, and a moderate presence of SMEs and exporters. Notably, the gender distribution among founders and directors reflects a skew towards male dominance, with a significant number of young directors under 40 years old. This report delves into these aspects to provide a comprehensive view of Monmouthshire’s economic health.
Employment and Business Growth
- Total Employees: 20,256. The employment landscape in Monmouthshire shows a healthy state with a total of 20,256 employees. This figure indicates a stable economic environment conducive to job creation.
- Employee Growth: 6.16% growth. The positive growth rate of 6.16% in employee numbers suggests a dynamic job market, likely driven by new businesses and expansions of existing ones.
- Top Sectors by Company Numbers: The leading sectors are diverse, with professional, scientific, and technical activities leading (970 companies, 17.97%), followed by wholesale and retail trade (607 companies, 11.25%), and construction (583 companies, 10.8%). This diversity suggests a robust and multifaceted economy.
- Top Sectors by Growth: Sectors like Other Leisure and Entertainment, Other Accommodation, and Medical Instrumentation, although small in number, are showing growth, indicating emerging areas of economic activity.
- Number of Scaleups: 27. This number of scaleups indicates a modest but significant level of business maturity and potential for future economic contributions.
Business Continuity
- Company Cessations: 426. This figure, while indicative of some business closures, needs to be balanced against the number of new companies and overall company growth to understand the full business continuity landscape.
- New Companies in 2 Years: 1,226. The establishment of 1,226 new companies over the past two years demonstrates a dynamic and entrepreneurial business environment.
- Total Companies: 5,397. The total number of companies reflects a vibrant business community with a mix of established firms and startups.
- SMEs and Exporters: There are 4,333 SMEs and 117 exporters in Monmouthshire, signifying a strong backbone of small and medium enterprises with a modest international trade presence.
Diversity and Innovation
- Gender Distribution Among Founders: 23.64% female, 72.73% male, 3.64% unknown. This distribution shows a significant gender gap in business founding.
- Gender Distribution Among Directors: 30.73% female, 65.75% male, 3.51% unknown. Similar to founders, a gender gap is evident in the directorial roles.
- Age Distribution of Directors: A notable percentage of directors are relatively young, with 4.99% between 20-30 years and 13.86% between 30-40 years.
- Innovation Indicators: With 154 patent owners and 1 grantee, there is evidence of innovation, though it seems concentrated in a small segment of businesses.
Conclusion
Monmouthshire’s economic landscape is characterised by a diverse sector presence, steady employment growth, and a dynamic business environment. However, there are areas for improvement, particularly in gender diversity among business leaders and innovation spread. The young director demographic indicates a potential for fresh perspectives in business leadership.