Overview
Staffordshire Moorlands presents a dynamic economic landscape, marked by a diverse array of sectors contributing to its growth. The region boasts a total of 15,122 employees, indicating a vibrant job market. Notably, there has been a significant shift in the industrial makeup, with emerging sectors gaining prominence alongside traditional industries.
Employment and Business Growth
- Total Employees: 15,122. The region has shown a steady employment rate, signifying a robust job market. An 8.23% employee growth rate is a positive indicator of economic health.
- Employee Growth: With 8.23% growth, the region is experiencing a healthy expansion in its workforce, likely driven by the emergence of new companies and the scaling up of existing ones.
- Top Sectors: The leading sectors include Professional, Scientific, and Technical Activities (562 companies), Construction (540 companies), and Wholesale/Retail Trade (481 companies). These sectors demonstrate the region’s diversified economic base.
- Rising Sectors: Notably, sectors like Analytics, Internet Platforms, Music, and SaaS are emerging, indicating a shift towards more modern, technology-oriented industries.
Business Continuity
- Company Cessations: The region saw a total of 316 company cessations, a figure that needs to be considered in the context of new company formations and the overall number of active companies.
- New Companies: In the past two years, 684 new companies have been established, suggesting a vibrant entrepreneurial environment. This influx of new businesses is critical for long-term economic vitality.
Sector Dynamics
- Top Sectors by Number of Companies: The leading sectors by company count include Professional, Scientific and Technical Activities, Construction, and Wholesale/Retail Trade. These industries form the backbone of the local economy.
- Emerging Sectors: New sectors showing growth include Analytics and Internet Platforms, reflecting a trend towards digitalisation and technology-oriented businesses.
Company Trends
- Total Companies: There are 3,635 companies in the area, indicative of a diverse and robust business ecosystem.
- New Companies (2 Years): With 684 new companies in the last two years, the region shows a strong trend in new business formation.
- Scaleups: The presence of 15 scaleups signifies a healthy environment for business growth and expansion.
Gender Diversity in Leadership
- Founders: 18.75% female founders and 81.25% male founders, showing a gender gap in entrepreneurship.
- Directors: 30.05% female directors and 67.64% male directors, indicating a notable but not equitable representation of women in leadership positions.
Conclusion
Staffordshire Moorlands demonstrates a diverse and evolving economic landscape, marked by a strong mix of traditional and emerging sectors. The healthy rate of new company formations, coupled with a steady growth in employment, signifies robust economic health. However, the region exhibits a gender disparity in entrepreneurial and leadership roles, highlighting an area for potential improvement. Overall, the economic indicators point towards a promising future, with technology and modern industries playing a key role in driving growth.