Overview
Rutland presents a diverse economic landscape with a notable presence in professional, scientific, and technical activities. The region shows positive trends in business growth, reflected in its employee growth rate and new company formations. However, its limited IPO activity and scaleup numbers suggest potential areas for economic strengthening.
Employment and Business Growth
- Total Employees: Rutland has a total of 10,111 employees. The region has witnessed a growth in employment, with 21 companies reporting increased employee numbers.
- Employee Growth Rate: The employee growth rate stands at 6.37%, indicating a healthy upward trend in job creation.
- Top Sectors with Rising Employment: The sectors showing notable employment increases include research tools/reagents, analytics/insight tools, other retail, food and drink processors, and other software companies.
Sector Dynamics
- Dominant Sectors: Professional, scientific, and technical activities dominate, comprising 18.78% of companies, followed by wholesale and retail trade (12.83%), and administrative and support service activities (9.34%).
- Sectors on the Rise: Sectors experiencing growth in company numbers include research tools/reagents and analytics/insight tools.
Business Continuity
- Company Cessations: The region has seen a significant number of company cessations, with 2,303 companies ceasing operations.
- Dead Companies: There have been 156 companies reported dead in the region.
Company Trends
- Number of Scaleups: The region has 12 scaleup companies.
- Total Number of Companies: There are 2,183 companies in Rutland.
- New Companies (Last 2 Years): 383 new companies have been established in the past two years.
Small and Medium Enterprises (SMEs) and Exporters
- SMEs: Rutland has 1,759 SMEs.
- Exporters: The region hosts 84 exporters.
Innovation and Funding
- Number of Patent Owners: Rutland has 61 patent owners.
- Number of Grantees: The region reports 2 grantees.
- Fundraisings: There have been 4 fund-raising events.
Diversity in Leadership
- Founders Gender Percentage: Female founders constitute 15.38%, while male founders account for 84.62%.
- Directors Gender Percentage: 31.91% of directors are female, and 63.44% are male.
Conclusion
Rutland’s economy is characterised by its strength in professional and technical services, coupled with a growing employment rate. The presence of SMEs and a diverse range of sectors contributes to its economic resilience. However, the high number of company cessations and limited scaleup and IPO activities highlight areas for potential development and support.