Overview
Tendring, a local council area, exhibits a diverse economic landscape with key sectors such as Construction, Wholesale and Retail Trade, Professional Services, and Administrative Support. Despite the absence of IPOs, the region shows a healthy 9.42% employee growth and a robust SME presence. Gender diversity in leadership roles, especially among directors, is an area of interest, with women constituting 30% of directors.
Employment and Business Growth
- Total Employees: 29,715. Tendring shows a significant workforce, with a notable 9.42% growth in employment, indicating a dynamic job market and economic expansion. This growth is supported by 32 scaleups, companies that have demonstrated substantial growth over a short period.
- Top Sectors by Employment Growth: The sectors showing the most growth are Construction, Wholesale/Retail Trade, Professional/Technical Activities, Administrative Support, and Real Estate. This diversification suggests a balanced economic structure, less susceptible to sector-specific downturns.
Sector Dynamics
- Top Sectors by Company Numbers: Leading sectors include Construction (1,000 companies), Wholesale/Retail Trade (757), Professional Services (679), Administrative Support (656), and Real Estate (563). These sectors form the backbone of Tendring’s economy, with Construction leading, indicative of ongoing infrastructure development and investment.
- Emerging Sectors: Sectors like Other Leisure and Entertainment, Distribution, Machinery, Toys/Games/Sports Equipment, and Other Online Publishing show potential growth, indicating a shift towards diversified and modern industries.
Business Continuity
- Company Cessations: 660 companies ceased operations, a vital statistic for assessing the business climate’s stability and the sustainability of economic growth.
- SME and Exporter Presence: The region supports 4,904 SMEs and 127 exporters, underscoring the importance of small and medium-sized enterprises in the local economy and international trade involvement.
Leadership and Innovation
- Gender Distribution in Leadership: Founders are predominantly male (92.59%), while female directors represent 30.17% of the total. This diversity in directorship may foster varied perspectives and inclusive decision-making in businesses.
- Patent Owners and Fundraisings: With 95 patent owners and 3 fundraisings, Tendring shows a modest level of innovation and investment activity.
Conclusion
Tendring’s economy is characterised by its strong construction and retail sectors, significant SME presence, and emerging industries, marked by a healthy growth in employment. The gender diversity in directorship roles is a positive sign for inclusive economic development, although there’s room for improvement in female entrepreneurship. The region’s moderate innovation indicators suggest potential areas for future investment and growth.