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

Analysis Report: Economic and Business Activity in North Lincolnshire

Overview

North Lincolnshire presents a dynamic economic landscape, with significant activity in various sectors. The region boasts a total of 49,408 employees, indicating a robust workforce. Recent trends show an emphasis on diversification, with notable growth in specific sectors and a balanced representation of genders in corporate leadership.

Employment and Business Growth

  • Total Employees: North Lincolnshire has 49,408 employees. The employee growth rate stands at approximately 9.53%, signaling a healthy, expanding job market. This growth is crucial in driving the region’s economic vitality.
  • Top Sectors by Number of Companies: The leading sectors are Construction (1,115 companies), Wholesale and Retail Trade/Repair of Motor Vehicles and Motorcycles (1,082 companies), and Professional, Scientific, and Technical Activities (900 companies). These sectors are pivotal in shaping the region’s economic character.
  • Sectors with Notable Growth: The Fashion and Clothing sectors, though small in number (1 company each), demonstrate potential for future growth, highlighting emerging market trends in North Lincolnshire.

Business Dynamics

  • Number of Scaleups: The region has 60 scaleup companies, indicative of a nurturing environment for business development and growth.
  • New Company Formation: In the past two years, North Lincolnshire has seen the establishment of 2,058 new companies, contributing to a total of 7,509 companies in the region. This robust influx of new businesses showcases the region’s appeal as a fertile ground for entrepreneurship.
  • SMEs and Exporters: With 5,509 SMEs and 184 exporters, the region demonstrates a strong base of small and medium-sized enterprises, contributing significantly to the local economy and global trade.
  • Foreign Parent Companies and Fundraisings: The presence of 96 companies with foreign parentage and 71 fundraising events highlights the region’s connectivity and attractiveness in the global market.

Innovation and Technology

  • Patent Owners and Grantees: North Lincolnshire houses 1 patent owner and 1 grantee, pointing towards a nascent yet promising environment for innovation and intellectual property generation.

Demographics and Leadership

  • Gender Representation in Founders and Directors: The area shows a gender distribution of 10.53% female founders and 89.47% male founders. In directorial positions, there are 27.08% female directors and 67.92% male directors, indicating a need for greater gender balance in leadership roles.
  • Age Distribution of Directors: The directors’ age distribution shows a broad range, with the largest group being those between 50 and 60 years old (28.40%), followed by those over 60 (25.01%). This diversity in age indicates a blend of experience and mature leadership in the business community.

Business Continuity

  • Company Cessations: A total of 7,825 companies have ceased operations, a figure that underscores the challenges and competitiveness in the business landscape.

Conclusion

North Lincolnshire’s economic and business activities are characterised by a diverse and growing workforce, a vibrant SME sector, and promising growth in various industries. However, the region faces challenges in terms of company cessations and gender disparity in leadership roles. Overall, the economic health of North Lincolnshire is robust, with ample opportunities for future growth and development.

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