Overview
Newcastle upon Tyne, a vibrant city, shows a diverse economic landscape with 228,713 employees. The city witnessed the rise of 2,023 companies in employee count, indicating a dynamic business environment. Its rich sectoral spread is anchored in professional, scientific, technical, and retail trade sectors, with significant real estate and accommodation services. Despite no recent IPOs, the city’s 14.63% employee growth rate, 97 scaleups, and a substantial number of new companies (2,916 over 2 years) underscore a robust entrepreneurial ecosystem.
Employment and Business Growth
- Total Employees: 228,713. The city has seen a healthy growth in employment, with a 14.63% increase, showcasing a robust job market and business expansion.
- Employee Raisers: 2,023 companies increased their employee count, reflecting a positive trend in business expansion and economic vitality.
Sector Dynamics
- Top Sectors: The leading sectors are Professional, Scientific, and Technical Activities (13.67%), Wholesale and Retail Trade (13.38%), and Real Estate Activities (13.04%). This diverse sectoral presence suggests a balanced and resilient economic structure.
- Sectors with Most Growth: Sectors such as Internet platforms, analytics, and SaaS showed significant growth, indicating a tilt towards digital and technology-oriented businesses.
Company Trends
- Total Companies: 18,479. The city has a rich tapestry of businesses, contributing to its economic vibrancy.
- New Companies (Last 2 Years): 2,916. This figure highlights a thriving entrepreneurial spirit and a conducive environment for new business ventures.
- Scaleups: 97. The presence of these rapidly growing companies signifies a nurturing ecosystem for business development.
- SMEs: 12,373. Small and medium enterprises form the backbone of the city’s economy, underlining its diverse business landscape.
- Exporters: 265. The city’s global business engagement is evident from its exporters, contributing to its economic resilience.
- Companies with Foreign Parentage: 621. This number indicates significant foreign investment and global business connections.
- Fundraisings: 459. An active fundraising scene reflects a healthy investment climate.
- Patent Owners: 22. This number, though modest, indicates innovation within the city’s business community.
Business Continuity
- Company Cessations: 1,974. Despite this figure, the growth in new companies and scaleups suggests a dynamic, evolving business environment.
Entrepreneurship and Leadership
- Founders’ Gender: 18.78% female founders, 78.04% male founders. The gender distribution in entrepreneurship shows a male-dominated landscape with room for increased female participation.
- Directors’ Gender: 25.38% female directors, 68.88% male directors. Similar to founders, a gender gap exists in leadership roles, highlighting a potential area for improvement.
- Age Distribution of Directors: The diverse age range of directors, with significant representation in the 40-60 age bracket, indicates a blend of experience and emerging leadership.
Conclusion
Newcastle upon Tyne presents a dynamic economic profile with a strong employment growth, diverse sectors, and a vibrant entrepreneurial ecosystem. The city’s economic health is marked by a mix of established sectors and emerging digital businesses, though areas like gender diversity in leadership and innovation can be further developed.