Overview
Wirral, a dynamic region, displays diverse economic activities with a strong presence in professional, scientific, technical, and retail sectors. Despite zero IPOs, there’s notable employee growth and a significant number of scale-ups, indicating a robust entrepreneurial ecosystem. The balance in gender diversity among founders and directors suggests progressive corporate governance, although males dominate these roles. The presence of young companies with young directors highlights the region’s vibrant, emerging business landscape.
Employment and Business Growth
- Total Employees: Wirral employs 202,075 individuals. The remarkable 30.72% employee growth rate reflects a thriving job market, buoyed by 33 companies raising employee numbers.
- Top Sectors for Employee Growth: Key sectors include professional, scientific, technical activities, and retail trade. This diversification underscores Wirral’s economic resilience and adaptability.
Sector Dynamics
- Top Sectors: Dominant sectors are professional, scientific, and technical activities (16.02%), retail trade (11.94%), and construction (11.22%). These sectors are the bedrock of Wirral’s economy, driving innovation and commerce.
- Top Growing Sectors: Emerging sectors like Other CleanTech and manufacturing engineering show entrepreneurial innovation, pointing to future economic opportunities.
Business Continuity
- Company Cessations: With 1,946 companies ceasing operations, Wirral’s business landscape faces challenges. However, the emergence of 2,382 new companies over two years indicates a dynamic, evolving market.
- Scaleups and SMEs: Wirral’s 62 scaleups and 12,563 SMEs are vital for economic resilience, showing a strong foundation of growing and established small businesses.
- Exporters and Foreign Parent Companies: The presence of 260 exporters and 133 companies with foreign parentage reflects Wirral’s global business integration.
Governance and Demographics
- Gender Diversity: Female founders and directors represent 14.81% and 28.83%, respectively. While there’s room for improvement, these figures suggest a move towards gender inclusivity in business leadership.
- Young Companies with Young Directors: The existence of 678 young companies led by young directors is a positive indicator of entrepreneurial spirit among the youth.
Conclusion
Wirral’s economy showcases strength in diversity, with robust growth in employment and a vibrant mix of sectors. The entrepreneurial environment, marked by a significant number of SMEs and scaleups, indicates a healthy, evolving economic landscape. However, challenges like company cessations and gender disparity in leadership roles need addressing. Overall, Wirral’s economic health is promising, with a strong foundation for future growth.