Overview
The economic landscape in Moray is characterised by a diverse range of sectors, with a notable emphasis on Construction, Professional, Scientific, and Technical activities, and Administrative and Support Service activities. The region shows a healthy mix of traditional and emerging sectors, underlined by the presence of a notable number of SMEs and new companies, indicative of a dynamic business environment.
Employment and Business Growth
- Total Employees: Moray employs 26,077 individuals. The employee base has experienced a growth rate of 10.71%, showcasing a positive trend in job creation.
- Employee Growth: 80 companies have reported an increase in the number of employees, reflecting an active and expanding job market.
- Top Sectors by Number of Companies: Construction (478 companies), Professional, Scientific, and Technical activities (450), and Administrative and Support Service activities (390) dominate the landscape. This diversity is crucial for economic resilience.
- Top Sectors with Rising Company Numbers: Food and Drink Processors, including Quality Control, and Aerospace are notable sectors showing growth, though on a smaller scale.
Sector Dynamics and Company Trends
- Total Companies: There are 3,263 companies in Moray, of which 687 are new companies established within the last two years, indicating a robust and growing business ecosystem.
- Small and Medium Enterprises (SMEs): With 2,415 SMEs, Moray has a strong backbone of small-scale enterprises, vital for local economic stability and growth.
- Scale-ups: The region has 15 scale-ups, businesses showing rapid growth, signifying an environment conducive to business expansion.
Business Continuity
- Company Cessations: Moray witnessed 3330 company cessations and 284 deaths, reflecting the challenges and competitive nature of the business environment.
Intellectual Property and Innovation
- Patent Owners and Grantees: The presence of 4 patent owners and 29 grantees indicates a modest but significant level of innovation within the region.
Diversity in Leadership
- Founders’ Gender: 26.67% of founders are female, while 73.33% are male, highlighting a gender gap in entrepreneurship.
- Directors’ Gender: 30.01% of company directors are female, and 67.20% are male. This shows a similar gender disparity in leadership positions.
Conclusion
Moray’s economy is marked by a mix of traditional and emerging sectors, with a significant number of SMEs and new companies. While the region shows positive employment growth and business dynamism, challenges in business continuity and gender disparities in leadership positions are areas for potential improvement.