New Businesses
(asked on 19th November 2024) - View Source
Question to the Department for Business and Trade:
To ask His Majesty's Government what assessment they have made of the reduction in the number of new businesses opening in the UK.
Start-ups play a crucial role in fostering competition, inducing innovation and supporting the emergence of brand new sectors. The number of UK business births has fallen by 6%, to around 316,000 in 2023.
ONS UK Business Demography 2023, published 18 November 2024.
Count Of Births of New Enterprises For 2018 to 2023, by year | |
2018 | 348,630 |
2019 | 363,825 |
2020 | 333,020 |
2021 | 363,995 |
2022 | 336,925 |
2023 | 316,025 |
The Government is committed to hardwiring the voice of small business into everything we do. Our Small Business Strategy next year will set out our vision for all small businesses from tackling the scourge of late payments, tailored Business Support Advice, Access to finance, and Local Growth Hubs Networks, providing a strong business environment to drive economic growth in the UK.