The number of business start-ups increased by 11.2% between 2010 and 2011 according to a recent statistical bulletin on business demography from the ONS. The increase of 26,000 brought the total number of business births to 261,000. The number of businesses that ceased trading fell by 20,000 to 230,000 or 7.9% during the same period.
Regionally, the highest number of start-ups was seen in London with a start-up rate of 14.6% or 61,000. The North East with 11.2% and the North West with 11.1% also figured among the regions at the top of the table. The highest rate for businesses ceasing to trade was in the North West with 10.7% or 25,000, then London with 10.4%.
The information and communication category saw the highest rate of increase in start-ups with an increase of 14.8% followed by professional, scientific and technical with 14.3% and business administration and support services with 14.1%. Business administration and support services also saw the biggest numbers cease trading with a rate of 11.9% follwed by finance and insurance at 11.5%. The highest numbers were in professional, scientific and technical with 39,000, construction at 35,000 and business administration and support services with 25,000.
The UK 5-year survival rate for businesses starting in 2006 to 2011 was 45%. The highest 5-year survival rate was seen in N.Ireland with 50.5%, the lowest was in London with 41.8%. The industry group with the highest survival rate was health with 60% and education with 52.8%. Hotels and catering was lowest with 35.7% lasting 5 years.
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