Overview
Stoke-on-Trent’s economic landscape is characterised by a diverse range of sectors, with a strong emphasis on wholesale and retail trade, construction, and professional activities. The city shows a robust number of employees and a notable presence of companies across various industries. Despite the absence of initial public offerings (IPOs), there is a healthy rate of employee growth and a significant number of new companies established in the last two years, suggesting a dynamic and evolving business environment.
Employment and Business Growth
- Total Employees: Stoke-on-Trent employs 88,616 individuals, indicating a substantial workforce. The presence of 415 companies that have increased their number of employees points to a positive trend in employment growth. The percentage of employee growth stands at 12.80%, which is a strong indicator of economic vitality and business expansion in the area.
Sector Dynamics
- Top Sectors by Company Numbers: The leading sectors are wholesale/retail trade and repair of motor vehicles (2,149 companies, 17.6% of total), construction (1,420 companies, 11.63%), and professional, scientific, and technical activities (1,197 companies, 9.81%). These sectors form the backbone of Stoke-on-Trent’s economy, showcasing a diverse and robust market.
- Top Sectors by Company Growth: Sectors such as Software-as-a-Service (SaaS), Internet platform, and materials technology are emerging as significant growth areas, although currently, they represent a small fraction of the overall business landscape.
Innovation and Scale-Ups
- Company Scale-Ups: There are 72 scale-up companies in Stoke-on-Trent, indicating a healthy environment for business growth and expansion.
- New Companies and SMEs: The city has seen the emergence of 2,400 new companies in the past two years, out of a total of 12,208 companies. This demonstrates a vibrant entrepreneurial spirit. The majority of these are small and medium-sized enterprises (SMEs), totaling 7,878.
Business Continuity
- Company Cessations: There are 1,687 companies that have ceased operations. This figure needs to be viewed in the context of the number of new companies and overall company dynamics.
Diversity and Leadership
- Gender Representation in Leadership: Founders’ gender representation is skewed towards males (90%), with females representing only 10%. Directors’ gender balance is somewhat better but still male-dominated, with 71.05% male and 25% female directors.
Conclusion
Stoke-on-Trent presents a dynamic and growing business environment, with a strong presence in traditional sectors like trade and construction, alongside emerging areas like SaaS and internet platforms. The high number of new companies and employee growth indicates a robust economic climate. However, there is room for improvement in gender diversity in leadership roles.