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The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.

Analysis Report: Economic and Business Activity in West Lindsey

Overview

West Lindsey’s economy showcases diversity with significant activities in construction, professional, scientific, and technical activities, and wholesale and retail trade. However, the absence of recent IPOs and a moderate growth in employee numbers suggest a stable but cautiously expanding economic landscape. The presence of a substantial number of SMEs and new companies highlights entrepreneurial dynamism, although the low percentage of female founders and directors indicates potential gender diversity challenges in the business sector.

Employment and Business Growth

  • Total Employees: 21,777. The region has experienced a 8.73% growth in employee numbers, indicating a steadily growing job market. This growth is modest but positive, suggesting a stable employment landscape.
  • Employee Growth Raisers: Not specified. This data is crucial to identify sectors driving employment growth.
  • Top Sectors: The leading sectors by number of companies are Construction (663 companies), Professional services (650 companies), and Wholesale/Retail trade (598 companies). These sectors are pivotal to the local economy, indicating a balance between service-oriented and traditional industries.
  • Sector Dynamics: The data lacks specifics on which sectors are growing or declining, which is vital for understanding economic shifts.

Business Continuity

  • Company Cessations: Not provided. This data is essential to assess business sustainability in the region.
  • Number of IPOs: 0. This indicates a lack of major new public listings, which can reflect on the maturity or conservative nature of the local business environment.
  • Scale-ups: 25, a healthy sign of business evolution and potential future growth drivers.
  • Number of Companies: 4,601, with 1,042 being new companies in the last 2 years. This shows a robust entrepreneurial environment.
  • SMEs and Exporters: 3,552 SMEs and 120 exporters, indicating a strong base of small and medium-sized enterprises, though the relatively low number of exporters suggests local market focus.
  • Foreign Parent Companies: 56, highlighting some level of international business integration.
  • Fundraisings and Patent Owners: 52 fundraisings and 5 patent owners, suggesting moderate innovative activity and investment interest.

Gender Diversity in Leadership

  • Founders Gender: 14.81% female, 85.19% male. This points to a significant gender gap in entrepreneurship.
  • Directors Gender: 29.80% female, 67.27% male. Similar gender disparity is seen in company leadership.
  • Age Distribution of Directors: Indicates a diverse age range, with a higher concentration in the 50-60 and above 60 age groups. This may reflect experienced leadership but also poses questions about succession planning and generational diversity.

Other Indicators

  • Young Companies with Young Directors: 173, indicating a dynamic, younger entrepreneurial scene.
  • Spinouts: Not available. This data could provide insights into innovation and academic-industry linkages.
  • Attendance (All/Specific): Not specified. Information on business events attendance can reflect networking and professional development trends.
  • Company Deaths: 360, which needs to be evaluated against new company formations and overall company count for business survival insights.

Conclusion

West Lindsey displays a balanced economic profile with growth in traditional and service sectors. The moderate employee growth and robust number of new businesses point to an active, yet steady economic environment. Challenges lie in improving gender diversity in business leadership and expanding international trade outreach. The strong base of SMEs and the presence of scale-ups are positive indicators for future economic resilience and growth potential.

The information is accurate as of 31 December 2022.
Data courtesy of Beauhurst.