Overview
Redditch, a vibrant economic hub, showcases a dynamic blend of sectors with a total of 58,532 employees. The city’s economic landscape is characterised by significant activity in various sectors, notably wholesale and retail trade, professional, scientific and technical activities, and construction. This diverse industrial base underpins the city’s robust economic health, although there’s an apparent gender imbalance in the founding and directorship roles.
Employment and Business Growth
- Total Employees: Redditch employs 58,532 people. The employee base has grown by 9.72%, indicating a healthy job market and expanding business activities.
- Top Sectors by Employee Growth: Unfortunately, specific data on sectors with the highest employee growth wasn’t provided. This information is crucial to understand which industries are driving employment.
Sector Dynamics
- Dominant Sectors: The leading sectors are Wholesale/Retail Trade (13.1% of companies), Professional/Scientific Activities (12.68%), and Construction (12.46%). This diversity suggests a balanced economic structure.
- Emerging Sectors: No specific data on emerging sectors was provided. Identifying these would be key to understanding future economic trends in Redditch.
Company Trends
- Number of Companies: There are 5,159 companies in total, with 747 new companies formed in the last two years. This indicates a steady growth in the business ecosystem.
- Scaleups: 38 scaleups are present, signaling a nurturing environment for business expansion.
Business Continuity
- Company Cessations: The data shows 501 company closures, which is a critical metric for assessing business sustainability in the region.
Gender Representation
- Founders by Gender: There’s a significant gender gap among founders, with 91.67% male and only 8.33% female founders.
- Directors by Gender: The gap narrows among directors, with 70.95% male and 27.05% female, but it still highlights a gender disparity in leadership roles.
Conclusion
Redditch’s economy is robust, marked by a diverse industrial base and positive employment growth. However, challenges remain in achieving gender parity in business leadership. The city’s future economic trajectory will depend on fostering emerging sectors and balancing gender representation in entrepreneurship and corporate governance.