‘Death rate’ of UK businesses rising – report ...News

New company openings have also been in decline, official statistics show A record number of businesses closed across the UK last year, according to a new report by the Office for National Statistics (ONS) released this week. ONS data shows that the number of so-called ‘business deaths’ increased from 328,000 to 345,000 between 2021 and 2022. That led to an increase in the ‘death rate,’ or the percentage of active businesses that closed, from 11.2% to 11.8% over the two years. This figure surpassed the ‘birth rate’ of new businesses being founded in 2022 for the first time since 2010. According to the report, 345,0

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