Overview
Warwick’s economic landscape reveals a dynamic and diverse business ecosystem. The city has a total employment of 129,488, with significant representation in professional, scientific, technical, wholesale, retail, real estate, and administrative sectors. Notably, the top sectors showing growth include mobile apps, internet platforms, and clean technology. The city’s commitment to innovation and technology is evident through its 63 scaleups and the presence of 2502 patent owners, showcasing a strong foundation in intellectual property and tech-driven industries.
Employment and Business Growth
- Total Employees: Warwick employs 129,488 individuals. The 9.5% employee growth highlights a robust job market, fostering opportunities across various sectors.
- Employee Growth: The city saw 412 businesses reporting an increase in employees, indicating a thriving local economy and business confidence.
- Top Sectors: Leading sectors include professional, scientific and technical activities (22.68%), wholesale/retail trade (10.47%), and real estate (10.03%). These sectors are pivotal in driving Warwick’s economic diversity.
- Sector Dynamics: The city’s emergent sectors are mobile apps, internet platforms, and clean technology, reflecting Warwick’s focus on digital innovation and sustainable solutions.
Business Continuity
- Company Cessations: There were 1260 companies that ceased operations. This figure should be analysed in the context of new company formations and overall business health in the city.
- New Companies: Warwick welcomed 1447 new companies in the last two years, a positive indicator of entrepreneurial spirit and business opportunities.
Gender Representation in Leadership
- Founders: The percentage of female founders stands at 13.89%, with male founders at 85%. This disparity highlights the need for more initiatives to support female entrepreneurship.
- Directors: Female directors represent 27.62%, while male directors are at 67.75%. These figures show a gender gap in leadership roles, suggesting potential areas for improvement in gender diversity.
Innovation and Intellectual Property
- Patent Owners: With 2502 patent owners, Warwick demonstrates a strong focus on innovation and intellectual property.
- Scaleups: The presence of 63 scaleups indicates a healthy startup ecosystem transitioning to more mature, high-growth businesses.
Conclusion
Warwick’s economic landscape is characterised by a diverse sector representation, significant employment growth, and a commitment to innovation and technology. The city’s robust job market and emergent sectors in technology demonstrate its forward-thinking approach. However, there are areas to improve, particularly in gender diversity in leadership roles and maintaining business continuity.