Overview
South Ribble presents a diverse economic landscape, characterised by significant activity in wholesale and retail trade, construction, and professional services. The area’s total employment stands at 41,856, with a notable 8.23% growth in employee numbers. The council has witnessed a robust expansion in sectors like manufacturing and information technology, although no initial public offerings (IPOs) were recorded. The gender distribution among founders and directors shows a skew towards male dominance, though female representation is notable.
Employment and Business Growth
- Total Employees: 41,856. The council has experienced a healthy employee growth rate of 8.23%, indicating a strengthening job market. The growth is possibly driven by the rise in sectors like construction and professional services.
- Top Sectors by Number of Companies: Wholesale/retail trade (877 companies), Construction (853), Professional services (793). These sectors not only dominate the employment landscape but also drive economic activity.
- Number of Scaleups: 51. This figure suggests a dynamic business environment with a considerable number of companies scaling up operations, contributing to job creation and economic diversification.
Sector Dynamics
- Top Sectors by Growth: Data not provided. However, the presence of diverse sectors implies a balanced and resilient economic base.
- Number of IPOs: 0. The absence of IPOs indicates a focus on private investment and possibly a nascent stage in the corporate growth cycle.
Business Continuity
- Company Cessations: 7092. This number, juxtaposed with the total number of companies (6085), suggests a challenging business environment with high turnover.
- Number of New Companies in 2 Years: 724. Reflects a dynamic entrepreneurial ecosystem, albeit with challenges in business longevity.
Demographics and Leadership
- Percentage of Female Founders: 25%. This shows an emerging trend of female entrepreneurship, though there is room for greater gender balance.
- Percentage of Male Founders: 75%. Indicates a male-dominant entrepreneurial landscape.
- Percentage of Female Directors: 27.06%. Reflects a moderate level of female representation in leadership roles.
- Percentage of Male Directors: 70.46%. This suggests male dominance in corporate leadership, aligned with the broader trend in entrepreneurship.
- Young Company with Young Director: 5.08%. This signifies a small but notable presence of young leadership in the business community.
Conclusion
South Ribble’s economic environment is marked by robust employment growth, a diverse sectoral presence, and a dynamic entrepreneurial landscape. However, the high rate of company cessations and the gender disparity in business leadership pose challenges. Strengthening support for new businesses and enhancing gender diversity in leadership could further bolster the economic resilience and inclusivity of the region.