Business Demography – the latest data

The business demography release examines data relating to enterprises.  It excludes those working as self-employed. 

  

1.Main points

The number of UK business births increased from 316,000 to 317,000 between 2023 and 2024; this has led to a small increase in the business birth rate from 11.0% to 11.1%.

 

The number of UK business deaths fell from 310,000 to 280,000 between 2023 and 2024; this has led to a decrease in the business death rate from 10.8% to 9.8%, the lowest death rate since 2016.

 

The transport and storage (including postal) industry has had both the highest birth and death rates since 2018; that trend continued in 2024 with the highest business birth rate, at 15.6%, and the highest death rate, at 16.5%.

 

There were 14,330 high-growth businesses in the UK in 2024, measured by employment, compared with 13,750 in 2023; the high growth rate in 2024, at 4.9%, is the highest since 2018, when it was 5.0%.

 

Cornwall

The figures indicate a decline in business births from 2021 to 2024. Deaths were at their highest in 2022 and 2023.  Total business numbers peaked in 2022.

 

Category/Year	2021	2022	2023	2024
Births	2725	2345	2200	2115
Deaths	1930	2270	2150	1920
Active enterprises	23185	23570	23360	23255

 

[NB the total for 2023 looks odd but the figures are as indicated in the release.  Discrepancies often arise due to rounding].

 

 

Source: Office for National Statistics, Business Demography, UK: 2024.