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
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Source: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Lincolnshire Enterprises
0%
2%
4%
6%
8%
10%
12%
14%
16%
Lincolnshire Enterprises
Source: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Source: Defra Agricultural Survey, 2005
Concentrations of Farms >5 ha
Agriculture
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Agri-Food
Source: Annual Business Inquiry 2008, Office for National Statistics
Concentrations of Agri-Food Workplaces
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Construction
Concentrations of Construction Workplaces
Source: Annual Business Inquiry 2008, Office for National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Professional, Scientific & Technical
Concentrations of Professional, Scientific & Technical Workplaces
Source: Annual Business Inquiry 2008, Office for National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Concentration of Accommodation & Food Workplaces
Source: Annual Business Inquiry 2008, Office for National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Non-Food Manufacturing
Concentrations of Non-Food Manufacturing Workplaces
Source: Annual Business Inquiry 2008, Office for National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Source: Office of National Statistics
25% 29% 24% 22% 21% 24% 24% 31%
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Source: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Enterprise deaths as a % of Active Enterprises
7%
8%
9%
10%
11%
12%
13%
14%
2004 2005 2006 2007 2008 2009 2010
England
Lincolnshire
Source: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Enterprise Births as % of Active Enterprises
7%
8%
9%
10%
11%
12%
13%
14%
2004 2005 2006 2007 2008 2009 2010
England Lincolnshire
Source: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Source: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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%
Source: Office of National Statistics
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
%
England Lincolnshire
8.3%
Source: Office of National Statistics
37.3% 45.6%
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
About the data and its uses
• ONS data - • geography and time lag
• Quantitative
• Influencing employment, productivity, and location
• Lincolnshire Quarterly Economic Survey (QES)
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Stay the Same
Decrease
Increase
Source: Quarterly Economic Survey
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Source: Quarterly Economic Survey
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Source: Quarterly Economic Survey
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Topic of concern - more concerned than 3 mths ago
0
10
20
30
40
50
60
70
%
Business rates Inflation
Competition Red tape
Source: Quarterly Economic Survey
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
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
Source: Quarterly Economic Survey
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Lincolnshire Business – a summary
• Traditional industries
• More small businesses
• More ‘established’ business
• Local optimism
• Recovering slowly
Lincolnshire Research Observatory www.research-lincs.org.uk
Business and the Lincolnshire Economy
Any Questions
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