Overview
North Northamptonshire, a vibrant area with a diverse economic landscape, has shown notable trends in its business and employment sectors. With a total of 142,179 employees and a significant increase in employment, the area is marked by a variety of industries, ranging from wholesale and retail trade to professional, scientific, and technical activities.
Employment and Business Growth
- Total Employees: North Northamptonshire employs 142,179 individuals. The area has seen an increase in employment, with 287 companies reporting a rise in their employee numbers.
- Employee Growth Percentage: The employee growth rate is 12.34%, indicating a robust expansion in the job market.
- Top Sectors with Employment Growth: The sectors with the highest employment growth are Internet platform, Food and drink processors, Educational services, Consumer banking and financial services, and Software-as-a-service (SaaS), each contributing significantly to the economic dynamism.
Sector Dynamics
- Leading Sectors: The dominant sectors include Wholesale/Retail Trade (13.85%), Professional/Scientific/Technical Activities (12.66%), and Construction (12.41%). These sectors form the backbone of North Northamptonshire’s economy.
- Sector Growth Drivers: The sectors showing the most dynamic growth are Internet platforms and SaaS, suggesting a tilt towards technology and digital services.
Company Trends
- Total Companies: The region boasts 21,991 companies, reflecting a thriving business environment.
- New Companies in Last 2 Years: A total of 5,648 new companies have been established in the last two years, indicating a healthy entrepreneurial spirit.
- Small and Medium Enterprises (SMEs): With 16,156 SMEs, the region’s economy is largely driven by small and medium-sized businesses.
- Exporters and Companies with Foreign Parentage: North Northamptonshire has 694 exporters and 370 companies with foreign parentage, underscoring its global business connections.
Innovation and Growth
- Scaleups: The area has 118 scaleups, demonstrating significant business maturity and potential for further growth.
- Patent Owners and Grantees: There are 458 patent owners and 6 grantees, indicating a focus on innovation and intellectual property.
Diversity in Leadership
- Founders’ Gender: The gender distribution among founders is 16.94% female and 79.84% male.
- Directors’ Gender: The boardrooms show a slightly higher female representation with 26.60% female directors and 70.06% male directors.
Business Continuity
- Company Cessations: The data indicates 3,365 companies ceased operations, a vital statistic for assessing business sustainability in the region.
Conclusion
North Northamptonshire’s economic landscape is characterised by a robust employment market, diversified sectoral presence, and an encouraging trend in business growth and innovation. The region demonstrates a strong entrepreneurial spirit, supported by a significant number of SMEs and a focus on technology-driven sectors.