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The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in North Kesteven

Overview

North Kesteven’s economic landscape is characterised by a diverse range of sectors with a total of 49,019 employees. The region shows a healthy mix of traditional and emerging industries, with significant contributions from construction, professional services, and retail trade. Notably, the area has a dynamic entrepreneurial scene, highlighted by a considerable number of new companies and SMEs.

Employment and Business Growth

  • Total Employees: 49,019. The employee count indicates a robust labor market. The 6.991% employee growth is a positive indicator of economic vitality.
  • Top Sectors for Employment Growth: The top sectors contributing to employment growth are ‘Distribution’, ‘Analytics, Insight, Tools’, ‘Agriculture and Farming’, and ‘Other Business and Professional Services for Businesses’. This diversity suggests a balanced economic development.

Sector Dynamics

  • Top Sectors by Number of Companies: Construction (863 companies), Professional/Scientific/Technical Activities (723), and Retail Trade/Repair of Motor Vehicles and Motorcycles (696) dominate. This mix underlines a strong base in both traditional and service-oriented sectors.
  • Emerging Sectors: Notable growth in sectors like ‘Distribution’ and ‘Analytics, Insight, Tools’ points to an evolving business environment, adapting to modern demands.
  • New Companies in Last Two Years: 1,199, indicating a vibrant start-up ecosystem.
  • Total Number of Companies: 5,248, showing a healthy business environment.
  • Small and Medium Enterprises (SMEs): 4,063 SMEs form the backbone of the local economy, highlighting the importance of small-scale enterprises.
  • Exporters and Foreign Parent Companies: 145 exporters and 72 companies with foreign parentage, suggesting international business ties.

Innovation and Growth

  • Number of Scaleups: 34. This indicates a nurturing environment for growing businesses.
  • IPOs: No IPOs, suggesting a focus on private and SME business growth rather than public markets.
  • Patent Owners and Grantees: 32 patent owners and 8 grantees, indicating a moderate level of innovation activity.

Diversity in Leadership

  • Founders’ Gender: 11.11% female, 88.89% male. This shows a gender gap in entrepreneurship.
  • Directors’ Gender: 29.20% female, 67.53% male directors. Greater diversity in leadership roles compared to founders, but still room for improvement.

Company Longevity and Continuity

  • Company Cessations: 7706 companies ceased, highlighting challenges in business sustainability.
  • Young Companies with Young Directors: 206, indicating a trend of young entrepreneurship.

Conclusion

North Kesteven exhibits a vibrant economic landscape with a healthy mix of traditional and emerging sectors. The area’s strong SME presence and a significant number of new companies highlight its entrepreneurial spirit. However, challenges in gender diversity and company longevity need attention. The absence of IPOs suggests a focus on private sector growth.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.