Overview
Trafford’s economic landscape demonstrates a diverse range of sectors with notable growth in employment and business activity. The area hosts a total of 25,393 companies, with professional, scientific, and technical activities leading the sectoral distribution. An impressive count of 7,673 new companies emerged in the past two years, indicating a dynamic and evolving business environment. The gender distribution among founders and directors shows a skew towards male dominance, with female representation at 18.22% for founders and 24.64% for directors.
Employment and Business Growth
- Total Employees: Trafford has a workforce of 251,866, with 767 companies reporting an increase in employees. This indicates a robust employment market.
- Percentage Employee Growth: The region experienced a 13.33% growth in employment, reflecting healthy economic activity and business expansion.
- Top Sectors: The leading sectors are professional, scientific, and technical activities (19.67%), administrative and support service activities (12.01%), and wholesale and retail trade (11.62%).
- Top Sectors with Employee Growth: Notably, sectors like analytics, internet platforms, and SaaS are among the top sectors experiencing employee growth, suggesting a tilt towards the tech and digital market.
Business Continuity
- Company Cessations: Trafford saw 2,612 companies ceasing operations, which is a notable figure but should be viewed in the context of the high number of new companies.
- Number of Scaleups: The region boasts 140 scaleups, indicating a healthy ecosystem for growing businesses.
Sector Dynamics
- Dominant Sectors: The dominant sectors by company count include professional, scientific, and technical activities, administrative services, and retail trade.
- Emerging Sectors: Sectors like analytics and SaaS show rapid growth, signaling a shift towards technology-oriented businesses.
Company Trends
- New Companies: With 3,615 new companies in two years, Trafford is a hub for new business ventures.
- SMEs and Exporters: The presence of 17,573 SMEs and 519 exporters underscores a strong small and medium-sized enterprise sector with international reach.
Governance and Leadership
- Gender Diversity in Leadership: Female representation among founders and directors is below 30%, indicating room for improvement in gender diversity in leadership roles.
- Age Distribution of Directors: Directors are predominantly in the 40-60 age range, with a small percentage of young directors under 30.
Intellectual Property and Innovation
- Patent Owners and Grantees: Trafford has 598 patent owners and 15 grantees, highlighting its role in innovation and intellectual property generation.
Conclusion
Trafford’s economic landscape is marked by a strong mix of traditional and emerging sectors, with a significant number of new companies and scaleups. The employment growth and diversity in sectors indicate a robust and evolving economy. However, the area can benefit from increased female representation in leadership roles and fostering younger directors to enhance diversity and innovation.