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Business Demography 2015
Published: February 2016
- Economic Factsheet: Business Demography - 2015
Download this factsheet as a PDF
The Office for National Statistics (ONS) produces annual data on Business Demography. This source shows the number of business start-ups (‘births’) and business closures (‘deaths’) each year and gives an indication of the health and dynamism of the local economy. It also provides information on survival rates of business start-ups.
Business births and deaths (2014)
|
Area |
Active enterprises 2014 |
Business Births |
Business Deaths |
Net change 2013-2014 |
|
Somerset |
21,500 |
2,275 |
1,845 |
430 |
|
Mendip |
5,095 |
530 |
385 |
145 |
|
Sedgemoor |
4,420 |
430 |
395 |
35 |
|
South Somerset |
6,375 |
730 |
545 |
185 |
|
Taunton Deane |
4,245 |
475 |
390 |
85 |
|
West Somerset |
1,365 |
110 |
130 |
-20 |
|
Heart of the South West LEP |
63,160 |
6,715 |
5,645 |
1,070 |
|
UK |
2,550,890 |
350,585 |
245,835 |
104,750 |
Source (all tables and charts): ONS Business Demography 2014
In 2014, there were 21,500 active enterprises in Somerset. 6,375 were located in South Somerset District (29%). West Somerset was the only district in Somerset who had a fall in the number of active enterprises between 2013 and 2014.
In 2014, there were 1,845 business ‘deaths’ in Somerset; 8.6% of the total active enterprises in the County. This is a slightly lower rate than the UK (9.6%) and Heart of the SW LEP area (8.9%). Business death rates peaked in 2009 after the financial crisis.
In 2014, there were 2,275 business births in Somerset, a rate of 10.6%. This is lower than the birth rate of 13.7% for the UK area. The number of start-ups in the County has fallen since 2013.
The number of active enterprises in Somerset peaked at 21,940 in 2008. The number of active enterprises in Somerset rose by 420 between 2012 and 2013. This is a rise of 2% which is slower than the national rise of 4%. The number of active enterprises in the County has returned to pre-recession levels.
Business survival rates (2013)
|
Year |
Somerset |
HoSW LEP |
UK |
|||||||||
|
No. of start ups |
Survival rates (%) |
No. of start ups |
Survival rates (%) |
No. of start ups |
Survival rates (%) |
|||||||
|
1 year |
3 years |
5 years |
1 year |
3 years |
5 years |
1 year |
3 years |
5 years |
||||
|
2009 |
1,760 |
93.2 |
62.5 |
44.0 |
5,180 |
93.0 |
63.2 |
44.8 |
236,030 |
90.8 |
59.6 |
41.7 |
|
2010 |
1,635 |
88.7 |
59.9 |
|
4,835 |
88.7 |
59.8 |
|
235,145 |
86.7 |
57.1 |
|
|
2011 |
1,750 |
94.0 |
62.3 |
|
5,405 |
93.7 |
62.3 |
|
261,370 |
93.1 |
60.5 |
|
|
2012 |
1,815 |
92.6 |
|
|
5,480 |
91.2 |
|
|
269,565 |
91.2 |
|
|
|
2013 |
2,355 |
94.3 |
|
|
7,120 |
93.8 |
|
|
346,485 |
93.5 |
|
|
44% of Somerset businesses started in 2009 were still trading 5 years later, compared to 44.8% across the LEP and 41.7% for the UK.
2010 was the worst year in recent times to start a business. Only 88.7% of Somerset businesses started in 2010, were still trading in 2011. It was a similar picture for the LEP and UK areas.
The highest 1 year business survival rates for births in 2013 in Somerset were Mendip (95.5%) and South Somerset (95.3%) respectively.
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