Statistics, Document
Business demography: 2023
Data which summarises information on the number of births and deaths and the stock of VAT/PAYE registered enterprises for 2023.
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Introduction
The most recent data in this report is for 2023 and refers to businesses that were active between December 2022 and December 2023.
Main points
- The total number of enterprises active in Wales during 2023 was 102,215. This was a decrease of 2,305 enterprises (2.2%) compared to 2022.
- There were 10,520 enterprise births in Wales during 2023, which is a rate of 10.3%. In comparison, the UK business birth rate was 11.0%.
- There were 11,300 enterprise deaths in Wales during 2023, which is a rate of 11.1%. In comparison, the UK death rate was 10.8%.
- The 5 year survival rate for enterprises born in 2018 and still active in 2023 for Wales was 36.6%, below the UK survival rate of 39.4%. The highest 5 year survival rate was in Northern Ireland (47.7%), whilst the lowest was in the West Midlands (34.7%).
- The 1 year survival rate for enterprises born in 2022 and still active in 2023 for Wales was 91.8%, below the UK survival rate of 92.3%. The highest 1 year survival rate was in the South East (93.4%), and the lowest was in Northern Ireland (90.8%).
Note
Rates calculated as percentage of stock.
The detailed Business demography dataset on StatsWales will be updated to include these new data as soon as possible.
