North East Connected

Scotland Revealed as the Region with the Highest Rate of Business Closures

The startup world is a fiercely competitive one, with companies across sectors opening and closing at a rapid rate. Safestore have carried out a study of UK regions to compare the rate of businesses opening and closing over the last 6 years. Across the entire country, over 7 businesses are opened per 100,000 people every year with nearly 10 closing on average annually. 

Rate of Closure by Region

According to PwC, the UK has seen an average of over 5,600 businesses close yearly since 2013, which is nearly 30% higher than the number of openings every year. When the figures are combined to show a net increase/decrease, all regions recorded a deficit in the number of businesses opened/closed.  

Goals vs. Mistakes

By taking a look at existing survey data, Safestore have been able to highlight both the primary objectives for a business owner, and the most common reasons for failure. Some of the highlights from the research can be found below.  



You can view the full infographic by Safestore here, which looks at each sector and region in more depth.

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