In November 2009 the Western Mail published Fast Growth 50, Wales’ top 50 fastest growing businesses of the last year. Cardiff dominates the list with a record 20 firms emerging from the capital city, providing 40% of the fastest growing companies in Wales.
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Employment in knowledge-based businesses in Cardiff grew by 42% between 2000 and 2007 the equivalent of 12,500 jobs. Today knowledge-based businesses total 22% of the Cardiff workforce, greater than the GB average and many of the UK’s cities.
Over a fifth of Cardiff’s businesses are classified as ‘knowledge-based’, primarily centred around the city’s vibrant knowledge-based services sector.
With around 60,000 undergraduate students, the city’s Universities deliver a conveyor belt of talent for employers.
Cardiff is also a highly skilled city, with more residents per head boasting a degree or equivalent than any of the English Core Cities. A total of 35% of those of working age in the city possess a degree, significantly higher than the comparable figure for the whole of the UK of 23%.
Cardiff is an economic driver for its region, providing access to a population pool of 2.8 million people within commutable distance. Excellent local transport links enable over a third of Cardiff’s workforce to travel into the city each day.
Cardiff is also home to the largest concentration of media employment outside of London, hosting major facilities for network providers Media Wales, BBC, ITV and S4C. A cluster of content driven providers is also flourishing in the city including design, animation, gaming, TV production, film, music, and journalism businesses.
Cardiff has an above average number of people employed in knowledge based sectors with the greatest opportunities for growth in Biosciences, ICT and the Creative Industries.
The Financial Times’ Foreign Direct Investment magazine, ranked Cardiff as 7th in list of top 50 European cities of the future. Cardiff is also ranked the 7th most attractive city in Europe as a destination for Foreign Direct Investment.
