Overview
North Warwickshire, a local council area, exhibits a diverse economic landscape. Its workforce of 94,352 individuals is spread across various sectors, with construction, wholesale and retail trade, and professional services leading. The region shows a notable increase in employment and business growth, alongside active involvement in innovation and entrepreneurship.
Employment and Business Growth
- Total Employees: 94,352. North Warwickshire shows a strong employment base, with a 9.88% growth, indicating robust economic activity.
- Employment Growth: The region experienced a significant rise in employment, suggesting expansion across various sectors.
- Top Sectors: Construction (14.56%), Wholesale/Retail Trade (12.79%), and Professional Services (12.15%) dominate, indicating a balanced economic structure.
- Sector Growth Leaders: ‘Analytics, Insight, Tools’, and ‘Other Software’ sectors are emerging, though currently small in number.
Business Continuity
- Company Cessations: With a total of 4,255 companies ceasing operations, there’s a need to analyse factors affecting business sustainability.
- New Companies (2 Years): 1,058 new companies in two years suggest vibrant entrepreneurial activity.
- Scale-ups: 35 scale-ups indicate a supportive ecosystem for growing businesses.
Innovation and International Trade
- Patent Owners and Grantees: With 3 patent owners and a small number of grantees, there’s room for growth in innovation.
- Exporters: 273 exporters reflect moderate international trade engagement.
- Companies with Foreign Parentage: 78 companies suggest a fair level of international investment.
Governance and Demographics
- Gender Diversity in Leadership: Female directors constitute 25.69% of the total, highlighting the need for greater gender balance in corporate governance.
- Age Distribution of Directors: A diverse age range in leadership, with the majority between 40-60 years.
- Founders’ Gender: Predominantly male (87.5%), indicating gender disparity in entrepreneurship.
Conclusion
North Warwickshire shows a dynamic and growing economy with a strong employment base and diverse sectors. However, challenges in business continuity, innovation, and gender diversity in leadership need addressing. The council could focus on fostering a more inclusive entrepreneurial ecosystem and supporting innovation to ensure sustainable economic growth.