Number of UK Companies Shrinks for First Time Since Records Began Under Reeves – Guido Fawkes

Number of UK Companies Shrinks for First Time Since Records Began Under Reeves

mdi-fullscreen

For the first time since records began in 2012, the number of businesses listed on Companies House has fallen. The total number of UK businesses stood at 5,408,707 at the end of 2024 – down 19,879 from the previous quarter. The “effective register” (which excludes companies being dissolved or liquidated) plunged by a staggering 59,495. A record Reeves won’t be celebrating…

In the last three months of 2024, 203,584 companies shut up shop, a brutal 24.6% increase from the same period in 2023. Meanwhile, just 181,261 new businesses registered—a 15.5% drop. Henry Whorwood of research firm Beauhurst blamed the “double whammy of inflation and the budget”, while Association of Accounting Technicians president Michael Steed blamed high taxes deterring people from starting a business, opting to be sole traders instead. Companies not housing themselves in Labour’s Britain…