Overview
Stockport, a bustling city, showcases a vibrant economic landscape with 146,406 employees and a significant presence in various sectors. The city has seen growth in employment and business activities, reflecting its dynamic economic environment. A closer look reveals insights into sector dynamics, company trends, and more, painting a comprehensive picture of Stockport’s economic health.
Employment and Business Growth
- Total Employees: Stockport’s workforce comprises 146,406 individuals. The city has experienced a healthy growth in employment, indicated by 343 companies reporting an increase in their number of employees. This growth signifies a robust job market and opportunities for workforce expansion.
- Top Sectors by Company Count: The leading sectors in Stockport are diverse, with ‘Professional, scientific and technical activities’ (16.95%), ‘Wholesale and retail trade/repair of motor vehicles and motorcycles’ (14.18%), and ‘Administrative and support service activities’ (12.22%) at the forefront. This diversity indicates a well-rounded economic base.
- Top Sectors with Rising Company Numbers: Notable growth is observed in sectors like ‘Analytics, insight, tools’, ‘E-commerce’, and ‘Food and drink processors’, suggesting emerging trends and potential areas for future economic development.
Business Dynamics
- Company Cessations: Stockport has witnessed 2,757 company cessations, indicating a competitive business environment where not all enterprises thrive. This number provides insights into market challenges and the importance of resilience and innovation in business strategies.
- New Companies in Last 2 Years: The city has seen the establishment of 6,051 new companies in the past two years, reflecting a dynamic and entrepreneurial spirit. This influx of new businesses contributes to economic diversification and job creation.
- Scaleups: With 106 scaleups, Stockport demonstrates its capability to support businesses in their growth phase, contributing to the overall economic vibrancy of the city.
Diversity and Innovation
- Gender Diversity in Founders and Directors: Founders’ gender distribution shows 16.09% female and 82.18% male, suggesting a gender gap in entrepreneurship. In directorship roles, 26.91% are female, and 68.20% are male, showing a similar trend but with slightly higher female representation.
- Patent Owners and Fundraisings: The presence of 967 patent owners and 13 fundraisings highlights an environment conducive to innovation and investment, crucial for long-term economic sustainability.
Conclusion
Stockport’s economy is characterised by a diverse sectoral presence, growth in employment, and a surge in new businesses. While challenges such as company cessations exist, the city shows strength in innovation and scaleup development. Gender diversity in leadership roles remains an area for potential improvement. Overall, Stockport presents a dynamic and evolving economic landscape.