Overview
Wolverhampton’s economic landscape is diverse, with a strong presence in wholesale and retail trade, administrative support, and transportation sectors. The city has seen a healthy growth in employment, with a 13.46% increase in employee numbers. However, no recent initial public offerings (IPOs) indicate a potential area for future growth. The gender diversity in company leadership is noteworthy, with a significant proportion of female directors.
Employment and Business Growth
- Total Employees: Wolverhampton has a total of 107,286 employees. The city has experienced a 13.46% growth in employee numbers, indicating a robust job market and economic expansion.
- Top Sectors for Employment Growth: The sectors with the highest employment growth are not explicitly mentioned, but the presence of 60 scaleups suggests dynamic growth in certain industries.
Sector Dynamics
- Top Sectors by Company Numbers: The leading sectors are Wholesale/Retail Trade (16.63%), Administrative Services (14.05%), and Transportation (11.85%). These sectors are pivotal to the local economy, indicating a balanced mix of service and trade-oriented businesses.
- Top Sectors Showing Growth: Sectors like Healthcare Products, Internet Platforms, and SaaS are among those showing growth, albeit with a low base number.
Business Continuity
- Company Cessations: Wolverhampton has a total of 23,478 companies that have ceased operations, a significant number that reflects the dynamic nature of the business environment.
Leadership and Innovation
- Gender Diversity in Leadership: The city shows promising trends in gender diversity, with 28.93% female directors. However, male directors still dominate at 65.96%.
- Innovation Indicators: With 203 fundraisings and 4 patent owners, Wolverhampton demonstrates moderate entrepreneurial and innovative activity.
Conclusion
Wolverhampton’s economic profile is marked by a strong service sector, growing employment, and notable gender diversity in leadership. The absence of recent IPOs and a high number of company cessations suggest areas for improvement. Fostering innovation and supporting emerging sectors could further strengthen the city’s economic health.