Overview
South Lanarkshire’s economic landscape is marked by a diverse range of sectors, with significant activity in construction, wholesale and retail trade, and professional activities. The area demonstrates a robust presence of SMEs and a notable gender diversity in company leadership. However, the region shows a limited number of IPOs and a moderate level of employee growth.
Employment and Business Growth
- Total Employees: 60,886. This figure represents the total workforce within South Lanarkshire. The region has seen a healthy growth in employment, with 449 companies reporting an increase in their workforce.
- Employee Growth Rate: 8.36%. This positive growth rate indicates a dynamic job market, likely driven by the expansion of local businesses and the entry of new companies.
- Top Growing Sectors: ‘Analytics, insight, tools’, ‘Other manufacturing and engineering’, and ‘Marketing services’ are among the top sectors showing growth, indicating a shift towards more specialised and high-value industries.
- Number of Scale-ups: 90. This number of rapidly growing companies is indicative of a vibrant entrepreneurial ecosystem and potential for future economic expansion.
Business Continuity
- Company Cessations: 1,694. While this number indicates some business closures, it must be contextualised within the total number of active companies and the number of new companies established.
- Number of New Companies (Last 2 Years): 4,032. This robust number suggests a dynamic business environment, with new entrants potentially filling gaps or introducing innovation.
Sector Dynamics
- Top Sectors: Construction, Retail Trade, and Professional Activities lead in terms of the number of companies. These sectors are critical to the region’s economic fabric, providing a broad range of employment opportunities and services.
- SME Presence: 10,823 SMEs signify a strong backbone of small and medium-sized enterprises, vital for job creation and economic resilience.
Innovation and International Presence
- Number of Patent Owners: 165. This number, though modest, indicates some level of innovation within the region.
- Number of Exporters: 236. The presence of exporters suggests a degree of international engagement, which is essential for economic diversification.
- Companies with Foreign Parentage: 144. This shows South Lanarkshire’s integration into the global economy and its attractiveness to foreign investment.
Diversity in Leadership
- Founders’ Gender: 19.09% female founders, indicating a need for greater gender balance in entrepreneurial initiatives.
- Directors’ Gender: 25.78% female directors, reflecting a somewhat more balanced but still male-dominated leadership landscape.
Conclusion
South Lanarkshire’s economic profile is characterised by a strong presence of SMEs, diverse sectors, and a growing workforce. The region shows promising signs of entrepreneurial activity and sectoral growth, especially in high-value industries. However, areas such as innovation and gender diversity in leadership positions present opportunities for further development.