Business demography, quarterly, UK - October to December 2024

31st January 2025

The number of businesses added to the Inter-Departmental Business Register (IDBR) (business creations) in the UK in Quarter 4 (Oct to Dec) 2024 was 65,450, a fall of 8.5% on Quarter 4 2023.

The number of business creations in Quarter 4 2024 is the lowest since the start of the quarterly data series in Quarter 1 2017.

There was a decrease in creations in 13 out of 16 main industrial groups in Quarter 4 2024 compared with Quarter 4 2023, with the most significant falls coming from the transport and storage, and business administration and support services industries.

The number of businesses removed from the IDBR (business closures) in the UK in Quarter 4 2024 was 69,435; this figure is 7.3% lower than the number of closures in Quarter 4 2023.

There was a decrease in the number of closures in 10 out of 16 main industrial groups in Quarter 4 2024 compared with Quarter 4 2023; the most significant fall came from the transport and storage industry.

The number of business creations in the UK in Quarter 4 (Oct to Dec) 2024 was 65,450.

This is 8.5% lower than the number of business creations in Quarter 4 2023. This is the lowest number of business creations since the start of the quarterly data time series in Quarter 1 (Jan to Mar) 2017.

The number of business creations decreased in 13 out of 16 main industrial groups during this quarter compared with Quarter 4 2023. The most significant falls came in transport and storage (down 22%) and business administration and support services (down 17%).

Read the full ONS report HERE