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

Analysis Report: Economic and Business Activity in St Albans

Overview

St Albans presents a dynamic economic landscape, marked by a diverse range of sectors contributing to its overall economic health. The city’s employment landscape is characterised by a substantial number of employees, with notable growth in various sectors. The professional, scientific, and technical activities sector leads in company presence, followed by information and communication, and construction. There’s a noteworthy presence of sectors with rapid growth, such as Internet platforms and analytics. However, the absence of IPOs signals a potential area for economic development.

Employment and Business Growth

  • Total Employees: St Albans employs 72,030 people. The employee base has experienced a growth of 6.69%, indicating a healthy job market and potential business expansion.
  • Employment Growth Sectors: The top sectors by number of companies are professional, scientific, and technical activities (3,288 companies), information and communication (2,130 companies), and construction (1,627 companies). The growth in these sectors suggests a diversification of the local economy.
  • Company Dynamics: The city has 84 scaleups and 15,874 total companies, including 1,696 new companies in the last two years. This reflects a robust entrepreneurial environment and business dynamism.

Sector Analysis

  • Top Sectors: The leading sectors based on the number of companies are diverse, with professional and technical activities leading at 20.71%, followed by information and communication (13.42%), and construction (10.25%).
  • Rising Sectors: Notably rising sectors include Internet platforms, analytics and insight tools, and SaaS, indicating a shift towards technology-oriented businesses.

Business Continuity

  • Company Cessations: The data indicates 1,568 company closures, which could be a point of concern for business continuity and economic stability in the region.

Diversity and Innovation

  • Gender Diversity: In terms of founders’ gender, 18.34% are female, and 79.48% are male. For directors, 26.22% are female, and 65.69% are male. These figures highlight a gender gap in leadership positions.
  • Innovation Indicators: The city hosts 733 patent owners and 7 grantees, underlining a solid base for innovation and intellectual property development.

Conclusion

St Albans exhibits a vibrant and diverse economic environment with strong growth in employment and various sectors. The predominance of professional and technical activities, alongside emerging tech sectors, positions the city as a hub for innovative industries. However, the gender gap in leadership roles and the absence of IPOs are areas that warrant attention for future economic development.

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