The number of business closures in Quarter 3 2020 was slightly lower than the average number over the past three years.
Closures do not yet appear to have risen as a result of the pandemic ow.ly/MQM450BT482
Closures do not yet appear to have risen as a result of the pandemic ow.ly/MQM450BT482
The number of business creations in Quarter 3 2020 was slightly higher than in the third quarter of the past three years, after a fall in Quarter 2.
This is more likely to reflect the pandemic, as there are shorter lags with creations ow.ly/MK7b50BT4hR
This is more likely to reflect the pandemic, as there are shorter lags with creations ow.ly/MK7b50BT4hR
The composition of new businesses is markedly different to previous quarters.
The average business is smaller, and far more likely to be in industries less affected by the #coronavirus pandemic ow.ly/k5ZC50BT4nb
The average business is smaller, and far more likely to be in industries less affected by the #coronavirus pandemic ow.ly/k5ZC50BT4nb
New experimental data show that business dynamism (the rate of job creation and destruction due to entry and exit of businesses) in the UK has declined between 1999 and 2019 ow.ly/rZcN50BT4un
Micro businesses - those with 1-9 employees - are primarily responsible for the decline in the rate of job destruction from business closure ow.ly/13aZ50BT4za
More details on the data and methods used to measure business dynamism can be found in a paper we’ve published with @escoe today ow.ly/HobK50BT4Jm
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