Overview
Sefton’s economic landscape is characterised by a robust mix of sectors, with Construction, Wholesale and Retail Trade, and Professional Services leading the way. The area has experienced a healthy growth in employment, evidenced by the rise in total employees and several sectors showing significant business expansion. Despite the lack of IPO activity, the presence of scaleups and new companies indicates a dynamic business environment.
Employment and Business Growth
- Total Employees: Sefton boasts 61,132 employees, a testament to its strong job market. The 8.93% employee growth rate further underscores a thriving employment landscape. This growth is spread across various sectors, with notable contributions from Construction and Retail Trade.
- Top Sectors by Number of Companies: Construction (1,944 companies), Retail Trade (1,832), Professional Services (1,753), and Real Estate (1,551) dominate the sector landscape, indicating a diverse and robust economic base.
- Top Sectors by Growth: Notable growth is seen in niche areas like Other Retail Outlets, Toys/Games, and Food/Drink Processing, suggesting emerging opportunities in these specialised markets.
Business Dynamics
- Number of Scaleups: With 49 scaleups, Sefton shows a promising environment for business expansion and growth.
- New Companies in Last 2 Years: The emergence of 2,288 new companies in the past two years highlights a vibrant startup scene.
- Small and Medium Enterprises (SMEs): The presence of 10,743 SMEs forms the backbone of Sefton’s economy, emphasising the importance of small and medium-sized businesses.
Business Continuity
- Company Cessations: The data indicates 1,675 company cessations, a figure that needs to be balanced against the number of new companies to gauge business survival and market health.
Diversity and Innovation
- Gender Diversity in Founders and Directors: Female founders represent only 5% of the total, pointing to a gender gap in entrepreneurship. In contrast, female directors constitute 27.92%, suggesting better gender representation at the leadership level.
- Patent Owners and Grantees: The presence of 141 patent owners and 1 grantee signals moderate innovation activity within the region.
Conclusion
Sefton’s economic profile is characterised by a diverse sectoral composition, a growing employment market, and a vibrant new business scene. The region shows potential in niche sectors, although there is room for improvement in innovation and gender diversity among founders. The health of the business environment is further evidenced by the number of SMEs and scaleups, although the rate of company cessations warrants attention.