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The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in Solihull

Overview

Solihull’s economic landscape is characterised by a diverse array of sectors, with significant contributions from professional, scientific, and technical activities. The region shows positive trends in employment growth and business development, highlighting its dynamic economic environment. The data provides insights into the sector dynamics, gender representation in entrepreneurship, and the overall health of the business ecosystem in Solihull.

Employment and Business Growth

  • Total Employees: Solihull has 164,722 employees. The employment growth percentage is 7.81%, indicating a robust increase in job opportunities. This growth is likely driven by the diversification of the local economy and the rise of new businesses.
  • Employment Growth Leaders: 64 sectors have shown an increase in employment, signifying a widespread upward trend across various industries.

Sector Dynamics

  • Top Sectors by Company Count: The leading sectors are professional, scientific, and technical activities (15.53%), real estate (12.72%), and construction (12.23%). These sectors are pivotal in driving the region’s economic vitality.
  • Rising Sectors: Emerging sectors include Internet platform and analytics, each showing notable growth, which could be indicative of a shift towards a more digital and information-driven economy.

Business Continuity

  • Company Cessations: The number of company cessations is not provided, but the high number of new companies suggests a dynamic business environment with ongoing renewal and entrepreneurship.

Entrepreneurial Landscape

  • New Companies: In the last two years, Solihull has seen 2,316 new companies, contributing to a total of 23,165 active SMEs. This influx of new companies is a positive sign of a vibrant entrepreneurial ecosystem.
  • Scaleups: There are 76 scaleups, indicating a healthy progression of businesses from startups to more established entities.

Innovation and Global Reach

  • Patent Owners and Grantees: With 1,432 patent owners and 12 grantees, Solihull demonstrates a commitment to innovation and research.
  • Exporters and Foreign Parent Companies: The presence of 276 exporters and 936 companies with foreign parentage underlines Solihull’s integration into the global economy.

Gender Representation

  • Founders and Directors: The percentage of female founders is 21.55%, and female directors stand at 24.94%. While these figures show some level of gender diversity, there’s room for improvement, especially in leadership positions.

Conclusion

Solihull’s economic landscape is marked by a diverse and growing business sector, with significant contributions from professional and technical services. The rise in employment, influx of new companies, and innovation indicators like patent ownership reflect a dynamic and evolving economy. However, there is a notable gender gap in leadership roles that needs addressing to ensure a more balanced and inclusive economic growth.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.