Businesses in Northamptonshire have had a mixed year in the face of economic uncertainty, with a real spread between those performing strongly in terms of underlying profitability and growth, and companies that are facing challenging times.
In its seventh year, Northamptonshire Limited is part of an annual series of reports initiated by Grant Thornton aimed at giving you detailed business analysis, county by county. The analysis, now in its seventh year, provides a yardstick against which the county can assess its economic performance and businesses can benchmark themselves against their peers.
The report is compiled using the most recent publicly available financial statements. Results are derived from the current and previous year's financial performance to allow a comparison between the two years.
This year we have also partnered with the University of Northampton to focus on the important role businesses play in driving the sustainability agenda, from reducing their environmental footprint to enhancing their social impact. There is growing pressure on business to think beyond profit as its sole purpose and instead make a positive contribution to society by considering its environmental and social, as well as economic, impacts. In this context, we are delighted to include analysis into how the Top 100 businesses in Northamptonshire are performing in this regard.
Our latest Northamptonshire Limited report shows a turnover increase of 6% from the prior year. However, profitability has fallen by 7%.
The total number of employees have risen by 2.5% and after a number of years of low or no growth, average remuneration has risen up by a massive 4.5%, the highest annual rise in any of the last seven years of this report.
In part, this cost pressure may have contributed to the decline in profitability as companies are increasingly forced to pay higher wages to recruit and retain key staff.
Discover key information regarding regional trends and learn more about our Northamptonshire Limited report.