rprt.ing

One report from rprt.ing, which covers how the UK is doing in official statistics.

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Economy and public finances

New businesses and closures

For context
317,440new businesses started in the UK in 2024, and 280,370 closed

11.1 new for every 100 active businesses, against 9.8 closures. There were 13% fewer start-ups than in 2019

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What it means: businesses registered for VAT or PAYE that started or stopped trading in the year. A business counts as closed when it stops trading, not only through insolvency. More start-ups and more closures can both be signs of a churning, competitive economy, so these are shown for context. The ONS tables used here cover 2019 to 2024.

Source: ONS, business demography 2024, tables 1.1, 2.1 and 3.1.