The number of south west businesses is growing faster than the UK average.
The number of businesses that ceased trading also declined with closures decreased from 9.7% to 9.6% in 2013/14 – the lowest fall rate since 2008.
The ONS attributes the rise of business start-ups were due to a strengthening of the labour market with an employment rate rise from 70.1% in September 2011 to 73.2% at the end of 2014.
An alternative measure of business demography uses “employer enterprises” – enterprise with at least 1 employee.
New data on employer enterprises are contrasted for the first time with the harmonised business demography data which includes both employer and non-employer enterprises.
The employer enterprise birth rate, as a proportion of all active employer enterprises, for 2014 was 14.6%, compared with a birth rate of 13.7% for all enterprises, as a proportion of all active enterprises.
The employer enterprise death rate for 2014 was 9.3%, compared with a rate for all enterprise deaths of 9.6%.
Here in the south west of England there were 12.5% more new employers and 11% more businesses. Even more positively the number of employers in the south west which closed was only 8.5% and overall 8.9% of businesses closed.
Overall findings show that London was the region with the highest growth rate (17.7%) and fall rate (10.6%) and that business administration and support services had the highest growth rate at 2.7%, whilst accommodation and food services had the highest fall rate at 13.1%.
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