Rise in employment levels and large company numbers in North Lanarkshire

Cause for economic optimism in the area following new figures published by Businesses In Scotland.

A rise in employment levels, an increase in large company numbers and a burgeoning construction sector are driving a bright future for businesses in North Lanarkshire.

In a year of continued economic challenge nationally, there is cause for economic optimism in the area following new figures published by Businesses In Scotland which show employment levels are up by 0.9 per cent and an additional 860 jobs have been created.

North Lanarkshire continues to hold a strong position in retaining and attracting large companies to the area with:

• 6.2 per cent of businesses employing 250-plus people.
• Four per cent employing 50-249 people.
• And 89.8 per cent are small businesses, employing up to 49 people.

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An additional five large companies were recorded in North Lanarkshire in 2002/23.

The biggest shift in the economy comes from changes in industry sectors operating in the area.

For the first time since these Scottish Government statistics were produced, construction has overtaken wholesale, retail and repairs as the largest sector in North Lanarkshire in terms of business numbers (currently 1540).

In 2023, construction now represents 18.5 per cent of all North Lanarkshire-based businesses, closely followed by wholesale, retail and repairs at 18.3 per cent of businesses (1520).

The number of construction businesses increased by 60 (4.1 per cent) between 2022 and 2023.

These 1540 businesses employ 12,480 people and have a combined turnover of £2.4 billion.

Capitalising on this growth, the council is working on expanding pathways into employment in the construction industry through an "academy" model.

This will open up opportunities at a range of levels with employers including apprenticeships, placements and partnerships.

The wholesale, retail and repairs sector remains the top employment sector in North Lanarkshire, with 21,490 people employed, which accounts for more than a fifth (22 per cent) of private sector employment within the area.

This sector is also top for business turnover performance; the 1520 businesses recorded a combined turnover of more than £4.5 billion in 2023.

While the overall number of businesses in North Lanarkshire has dropped slightly by 1.1 per cent to 8325 and company turnover by 1.5 per cent to £15m between 2022-23, these local figures are largely in line with the national picture.

Across Scotland there was also a reduction of one per cent in business numbers and 5.4 per cent in company turnover.

“These latest figures show there is lot to be positive about here in North Lanarkshire,” said Councillor Alex McVey, convener of the enterprise and fair work committee.

“While we’ve seen a small decrease in business numbers in the last year, over the last decade the number of businesses in the area has increased by 1820 (18.2 per cent).

"This is significantly higher than the Scottish figure of 8.3 per cent and reflects North Lanarkshire’s prime location in central Scotland with excellent industrial and warehousing provision, unrivalled motorway links and access to a skilled and productive workforce.”

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