Download - Lincolnshire Research Observatory Business and the Lincolnshire Economy Business and the Lincolnshire Economy – A look at business

Lincolnshire Research Observatory www.research-lincs.org.uk

Business and the Lincolnshire Economy

Business and the Lincolnshire Economy – A look at business demography and

performance

Amanda O’ConnorPrincipal Development Officer

Research & Information Team



Businesses in Lincolnshire

• Some definitions• Types of industry in Lincolnshire• The size of businesses• The number of active enterprises and their

age• Lincolnshire business demography -

business births deaths and survivals• A local picture of business taken from our

Quarterly Economic Survey



What is a businessAn organisation

that trades in goods and

services for a financial reward

Sole traders, partnerships, companies, government

organisationsBusiness

Enterprises and local units



Source: Office of National Statistics



Lincolnshire Enterprises

0%

2%

4%

6%

8%

10%

12%

14%

16%

Lincolnshire Enterprises




Lincolnshire Business Enterprise Numbers Compared Nationally

0 50 100 150 200 250 300

Agri, forest and Fish

Public Admin & Def

Motor trades

Trans, Store (inc Postal)

Accom and Food

Construction

Retail

Production

Wholesale

Bus, admin & support

Education

Health

Arts and Ents

Property

Prof, Science and Tech

Finance & insurance

Info and comm

England = 100




Source: Defra Agricultural Survey, 2005

Concentrations of Farms >5 ha

Agriculture



Agri-Food

Source: Annual Business Inquiry 2008, Office for National Statistics

Concentrations of Agri-Food Workplaces



Construction

Concentrations of Construction Workplaces




Professional, Scientific & Technical

Concentrations of Professional, Scientific & Technical Workplaces




Concentration of Accommodation & Food Workplaces




Non-Food Manufacturing

Concentrations of Non-Food Manufacturing Workplaces





25% 29% 24% 22% 21% 24% 24% 31%



Active Enterprises per 10,000 population 2004 - 2010

330

340

350

360

370

380

390

400

2004 2005 2006 2007 2008 2009 2010

England Lincolnshire




Enterprise deaths as a % of Active Enterprises

7%

8%

9%

10%

11%

12%

13%

14%

2004 2005 2006 2007 2008 2009 2010

England

Lincolnshire




Enterprise Births as % of Active Enterprises

7%

8%

9%

10%

11%

12%

13%

14%

2004 2005 2006 2007 2008 2009 2010





Enterprise Births and Deaths 2004-2010

7%

8%

9%

10%

11%

12%

13%

14%

2004 2005 2006 2007 2008 2009 2010

England Births England Deaths

Lincolnshire Births Lincolnshire Deaths




0

10

20

30

40

50

60

70

80

90

Lincolnshire England

2 year survival rate 5 year survival rate

76.6%73.9%

46.9% 46.6%




Enterprises by Age of business

0

10

20

30

40

50

Less than 2 YearsOld

2 to 3 Years Old 4 to 9 Years Old 10 or More YearsOld

%


8.3%


37.3% 45.6%



About the data and its uses

• ONS data - • geography and time lag

• Quantitative

• Influencing employment, productivity, and location

• Lincolnshire Quarterly Economic Survey (QES)



Lincolnshire Quarterly Economic Survey (QES)

• Collaboration with the Lincolnshire Chamber of Commerce and Lincoln University

• A panel of 3000+ Lincolnshire businesses• A Quarterly survey - reported Quarterly• Provides a local business barometer• Important local evidence base• Influential both nationally and locally

• To join the panel contact the Lincolnshire Research Observatory



Stay the Same

Decrease

Increase

Source: Quarterly Economic Survey



Business TurnoverM

ay-0

9

Aug-0

9

Nov-0

9

Feb-1

0

May

-10

Aug-1

0

Nov-1

0

Feb-1

1

May

-11

Aug-1

1

Nov-1

1

Feb-1

2

Stay the Same

Decrease

Increase




ProfitabilityM

ay-0

9

Aug-0

9

Nov-0

9

Feb-1

0

May

-10

Aug-1

0

Nov-1

0

Feb-1

1

May

-11

Aug-1

1

Nov-1

1

Feb-1

2

Profitability in past 3 months Expected Profitability in the next 12 mths

Linear (Profitability in past 3 months) Linear (Expected Profitability in the next 12 mths)

Stay the Same

Decrease

Increase




Topic of concern - more concerned than 3 mths ago

0

10

20

30

40

50

60

70

%

Business rates Inflation

Competition Red tape




WorkforceM

ay-0

9

Aug-0

9

Nov-0

9

Feb-1

0

May

-10

Aug-1

0

Nov-1

0

Feb-1

1

May

-11

Aug-1

1

Nov-1

1

Feb-1

2

Stay the Same

Decrease

Increase




Lincolnshire Business – a summary

• Traditional industries

• More small businesses

• More ‘established’ business

• Local optimism

• Recovering slowly



Any Questions

Download - Lincolnshire Research Observatory Business and the Lincolnshire Economy Business and the Lincolnshire Economy – A look at business

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