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

Analysis Report: Economic and Business Activity in Wolverhampton

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.

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