Overview
West Dunbartonshire’s economy showcases a diverse mix of sectors with a total of 11,525 employees. Notably, there has been significant growth in employment, with a 10.76% increase. The region has a strong presence in Construction, Wholesale and Retail Trade, and Professional Services. Despite no recent IPOs, the area sees a healthy influx of new companies, indicating vibrant entrepreneurial activity. The gender diversity in company leadership positions is notable, with a reasonable percentage of female founders and directors.
Employment and Business Growth
- Total Employees: 11,525. The region has seen a substantial increase in employment, indicating a robust economic environment.
- Employment Growth: The 10.76% increase in employment suggests active business growth and a dynamic job market.
- Top Sectors for Employment: Construction (15.85%), Wholesale/Retail Trade (13.71%), and Professional Services (13.24%) dominate, reflecting a diversified economy.
- Scale-Ups: With 12 scale-ups, there’s evidence of emerging businesses transitioning to established entities, contributing to economic resilience.
Sector Dynamics
- Top Sectors: Construction, Wholesale/Retail Trade, and Professional Services are the largest sectors, indicating a well-rounded industrial base.
- Growth in Sectors: No specific data on sector growth rates, but the distribution of companies across various sectors suggests balanced development.
Company Trends
- Total Companies: 2,568, reflecting a healthy business ecosystem.
- New Companies in 2 Years: 819, showing an encouraging trend in entrepreneurship and business formation.
- SMEs: 1,758 Small and Medium Enterprises (SMEs) form the backbone of the local economy.
- Exporters and Foreign Parent Companies: 44 exporters and 69 companies with foreign parentage, indicating international business ties.
Business Continuity
- Company Cessations: No specific data provided.
- Business Longevity: A significant number of companies fall in the 30-60 age range of directors, suggesting a mix of established and emerging businesses.
Conclusion
West Dunbartonshire’s economic landscape is marked by strong employment growth, a diverse sectoral makeup, and an active entrepreneurial scene. The presence of numerous SMEs and a mix of young and experienced leadership indicate a dynamic and evolving business environment. While there are challenges, such as the lack of data on company cessations and IPOs, the overall economic health of the council seems robust and promising.