Overview
This report presents a comprehensive analysis of Nuneaton and Bedworth’s economic and business activities. Key focus areas include employment statistics, sector dynamics, company trends, and diversity in leadership roles. The data reveals insights into the local business ecosystem, highlighting areas of growth and sectors that are thriving.
Employment and Business Growth
- Total Employees: Nuneaton and Bedworth have a total of 48,971 employees. The region has witnessed a significant number of employees rising, with 62 sectors reporting growth.
- Employee Growth Percentage: The overall employee growth percentage stands at 8.63%, indicating healthy growth in the local job market.
- Top Sectors by Company Numbers: The leading sectors include Wholesale and Retail Trade/Repair of Motor Vehicles and Motorcycles (15.48%), Professional, Scientific and Technical Activities (11.58%), and Transportation and Storage (11.55%). These sectors form a substantial part of the local economy, reflecting a diverse industrial base.
- Sectors with Notable Growth: Noteworthy growth has been observed in Materials Technology, E-commerce, Nursing and Care Services, and Other Manufacturing and Engineering, although the number of companies in each of these sectors is currently small.
- Scaleups: The region is home to 36 scaleup companies, demonstrating a robust environment for business expansion.
Business Continuity
- Company Cessations: The number of companies that have ceased operations is not directly provided, but the region has a considerable number of new companies, suggesting a dynamic business environment.
- Company Trends: A total of 5,982 companies exist in the area, with 1,678 new companies established in the last two years. This growth signifies a healthy influx of entrepreneurship and business initiatives.
- SMEs and Exporters: The region hosts 4,360 SMEs and 188 exporting companies, indicating a strong backbone of small and medium enterprises with a presence in international markets.
- Foreign Parent Companies: There are 85 companies with foreign parentage, suggesting international investment and global connections.
- Fundraisings and Patent Owners: The area saw 93 fund-raising events and houses 2 patent owners, highlighting an environment conducive to innovation and investment.
Leadership and Diversity
- Founders’ Gender: Founders are predominantly male (73.91%), with female founders constituting 26.09%. This shows a gender gap in entrepreneurial activities.
- Directors’ Gender: Male directors dominate (72.06%), while female directors make up 24.46%. The gender disparity in leadership positions is evident.
- Age Distribution of Directors: Directors are mostly in the 40-60 age range, with those over 60 years constituting 20.50% of the total. This indicates experienced leadership in the local business community.
- Young Companies with Young Directors: There are 331 companies led by younger directors, suggesting a rising trend of youth leadership in business.
Conclusion
Nuneaton and Bedworth’s economic landscape is characterised by a healthy mix of established and emerging sectors, robust SME presence, and a growing trend in entrepreneurship and business scaleups. However, there is a notable gender gap in both founding and leading roles. The region’s diverse industrial base and the presence of international businesses position it well for future economic resilience and growth.