Overview
Swansea’s economic landscape shows a vibrant mix of sectors with a total of 55,582 employees. The city demonstrates a dynamic business environment, highlighted by a significant number of companies in various sectors, robust growth in employment, and a diverse range of small and medium-sized enterprises (SMEs).
Employment and Business Growth
- Total Employees: Swansea has 55,582 employees, with 149 companies reporting an increase in employee count. This suggests a healthy employment market.
- Employee Growth: The percentage growth in employee count is 12.46%, indicating a robust increase in employment opportunities.
- Top Sectors by Number of Companies: The leading sectors are Wholesale/Retail Trade and Repair (1,595 companies), Construction (1,566), and Professional/Scientific Activities (1,475). These sectors form the backbone of Swansea’s economy.
- Top Sectors with Rising Number of Companies: The sectors with a notable increase in companies are Internet Platform, Software-as-a-Service (SaaS), and Mobile Apps, reflecting Swansea’s growing tech industry.
Business Continuity
- Company Cessations: Swansea has seen a total of 1,399 company cessations, which is a critical aspect to monitor for assessing the business environment’s health.
- New Companies in the Last 2 Years: There are 3,039 new companies, showing a significant influx of new business ventures.
- Number of SMEs: The city hosts 9,362 SMEs, highlighting its diverse and vibrant small business sector.
Sector Dynamics
- Number of Scaleups: The presence of 52 scaleups indicates a healthy environment for business growth and expansion.
- Top Sectors by Growth: Sectors like Internet Platform, SaaS, and Mobile Apps are rapidly expanding, suggesting a shift towards a more digital and tech-oriented economy.
Company Trends
- Total Number of Companies: Swansea has a total of 12,341 companies, with a variety of sectors represented, showing a diverse economic base.
- Number of IPOs: There have been no IPOs, indicating a potential area for future growth.
Gender Representation
- Founders Gender: 19.38% of founders are female, 78.29% male, showing a gender disparity in entrepreneurship.
- Directors Gender: Female directors represent 26.28%, while male directors are at 69.11%, indicating a similar trend in corporate leadership.
Conclusion
Swansea’s economy is characterised by a strong mix of traditional and emerging sectors, with notable growth in the tech industry. While there is a healthy increase in employment and a vibrant SME sector, the gender disparity in entrepreneurship and corporate leadership is a point of concern. The absence of IPOs suggests potential areas for future economic development.